According to one estimate, over two-thirds of divorces are caused by disputes over financial issues. Accordingly, although it may not seem romantic to talk about money before your marriage, it may very well be the best thing for it.
At a minimum, a discussion of expectations regarding money can help avoid surprises. It also opens the door to a topic that might otherwise be avoided until it’s too late. Best of all, the timing of a prenuptial occurs when a couple is calm and thinking logically. Approaching any type of contract with that mindset is ideal.
A prenuptial agreement can also be viewed as a way to maintain individual values. Instead of a court determining how assets will be distributed, a couple gets to retain control over their property division. Family wealth or securities owned before a marriage can be protected, while assets or contributions acquired during the marriage can be honored and acknowledged.
Although it cannot address child custody arrangements, a prenuptial agreement can also provide direction in the event that one parent needs to relocate. Relocating parents do have legal rights, but a family law court ultimately determines custody based on the best interests of the child standard. Relocating for a job may be a valid reason, but a prenuptial agreement that provided for the maintenance of each spouse’s lifestyle may make such a move unnecessary, in the first place.
Our family law firm can provide guidance at every stage in your relationship. From prenuptial agreements to child custody and relocation requests, we will work hard to make your future goals a reality.
Source: Huffington Post, “The Case For Prenups,” Roxana Maddahi, Feb. 3, 2016