Prenuptial Agreements

Prenups are a popular topic in relationships. For some, prenups are a cushion just in case things go sour and others, prenuptial agreements conjure up feelings of anger & mistrust. I can see how prenups can bring up mistrust because couples don't trust each other to weather relationship storms together. Most people do not want to think about divorce and division of property before they even get married. However, with 41 percent of first marriages, 60 percent of second marriages and 73 percent of third marriages ending in divorce, it can be smart to have a prenuptial agreement. A prenuptial agreement outlines financial considerations in the event a marriage fails. Prenups often detail how assets will be divided, who is responsible for debts and whether a spouse will receive alimony. Prenups also force marrieds to discuss finances, which are among the top 3 for divorce. My take on prenups is pretty straightforward: Unless you're certain you and your s/o are going to be with each other for life, a prenup should never come into play but for couples who want a contingency plan, prenups would be in order. Prenups are a type of contract created by two people before entering into marriage. This contract could outline each party's responsibilities and property rights for the duration of the marriage. More commonly, prenuptial agreements outline terms and conditions associated with dividing up financial assets and responsibilities if the marriage dissolves. Prenuptial agreements have always been a very controversial topic for couples. Media portrayals of prenuptial agreements show them as devices that celebrities and other similar high net worth individuals use in order to cap the amount of wealth that an ex-spouse can claim. However, when carefully planned and used correctly, a prenuptial agreement can be a fair way of disbursing assets and responsibilities. I remember prenups were frowned upon in earlier times because they corrupted what marriage is supposed to stand for but as time passed, more people are wising up to the fact that in the best of marriages, you want to cover your bases. If your man/woman gets mad that you want them to sign a pre-nup, that's a red flag in my opinion and leaves the relationship a lot to be desired.