Getting married is always an exciting time in anyone’s life. It’s a time to celebrate love, new beginnings, and commitment. This is why it’s often difficult to bring up the idea of divorce when people are engaged to be married. Many couples find the idea of discussing divorce before marriage to be the least romantic thing on the planet. It is true that planning for divorce before you get married can seem cynical or pessimistic. But does planning for divorce before marriage have to be so dark? Could it be considered proactive to make a plan that protects you and your assets if a romantic disaster occurs?
Discussing plans for a potential divorce has become more and more popular these days. This is especially true amongst millennials and younger generations. These young couples are very aware of the realities of divorce. They know that it’s not necessarily cynical to be prepared. They understand that it’s essential to protect yourself and plan for a divorce before you walk down the aisle.
What is a Prenuptial Agreement?
A prenuptial agreement (often referred to as a “prenup” or “premarital agreement”) is a written contract that you and your soon-to-be spouse will create together. Prenuptial agreements will usually list each persons’ property and assets and specific instructions on how everything will be divided if the marriage fails. However, a prenuptial agreement can include much more than that. Prenups can include guidelines for specific scenarios. For instance, you can state in a prenuptial agreement that you will agree to see a marriage counselor for a certain length of time before you decide to divorce. It’s strongly advised to speak with a divorce attorney at this stage to help you decide what kind of conditions you’d like to set for you and your spouse in an unfortunate case of divorce.
Why Would You Want a Prenuptial Agreement?
Many engaged couples will avoid planning for divorce at all costs. Some believe that planning for divorce before marriage can curse the relationship. Of course, the thought of separating at this stage of a commitment can be uncomfortable and even awkward. However, this is a perspective that’s been evolving over the years. First, discussing divorce before marriage can help you and your partner understand the weight of marriage and what it involves. It’s an opportunity to discuss expectations and responsibilities.
While some couples only see marriage as a romantic commitment, others realize that it’s also a business relationship. You’ll have shared properties, assets, and even debts in the future. It’s important to talk about the possibility of untangling these items before they’re tied together. With the recent increase of prenuptial agreements, it’s clear that more couples are seeing this contract as a sign of strength and protection instead of a sign of weakness and pessimism.
What Happens if We Don’t Have a Prenuptial Agreement?
This is one of the most important questions that a newly engaged couple can ask themselves. In the worst case scenario, what happens if we do not prepare for divorce? What if we don’t have a prenuptial agreement? The truth is, there’s a lot that lies outside of your control if you don’t have a premarital contract. The state’s laws will dictate who owns what property that the two of you have accumulated during the marriage. Depending on how the marriage ends, you could end up paying alimony, child support, and splitting your retirement or pension with your ex-spouse. The point is that without a prenuptial agreement, the splitting of assets, income, savings, and property can become very messy. Planning for divorce before marriage allows you to prepare for the worst. Many engaged couples will feel more secure in the marriage knowing that a prenuptial agreement contract exists.
Who Should be Planning for Divorce Before Marriage?
A common myth is that only celebrities or wealthy couples should be planning for divorce. It is true that when you have a lot of money, assets, and property, it’s better to have a premarital contract. However, the days of only wealthy people planning for divorce are over. Every couple should plan for the possibility of divorce. Having a contract can help you both to express your ideas for your financial future and identify how you’d like to move through financial obstacles if you’re no longer together.
For More Information on Planning for Divorce
If you’re planning a wedding, it’s highly recommended also to have a plan for what would happen in the event of a divorce. A Boca Raton divorce attorney can help you identify certain terms and conditions for your premarital agreement. Since divorce is so prevalent, nowadays, it’s important to prepare beforehand. Contact experienced divorce attorney, Lewert Law, today to learn more about how you can protect your financial future and create a premarital contract with your future spouse today.