It’s wedding season. Everyone is starting to send save the dates or the actual invites. But what everyone should be doing is thinking of a pre-nup, insert gasp here. I’ve said it before and I will continue to-we offer post-nup agreements as well because without them you are essentially treading water in your marriage. Times are different. Voices and values are changing. Your value and your voice can be heard and protected not just in terms of financial value. And this is why people need to have an agreement.
Because of the value of staying at home or taking the more flexible but less paying job, there needs to be more financial safety-nets and a pre or post-nup is one of the few tools currently available.
Maybe you have this as a sort of verbal agreement or you assume it’s a tacit understanding, but you never know when someone will turn litigious or vindictive in the case of divorce. Having this in writing is important.
And it’s not just for wealthy— they also can be used to manage debt.
People are getting married later in life, with second marriages and children or even out of business school and therefore coming into relationships with debt from college, credit cards, or obligations for child support, it would be wise to segregate these debt obligations and discuss whose income will be used to pay them.
Don’t worry. You can customize yours. They’re not a rigid one-size-fits all format, they can be tailored to the current situation and needs of the particular couple.
Any family lawyer will tell you what it saves you isn’t from a bad divorce, but from a potentially nervous marriage. Yes, it’s going to be an awkward conversation. But it’s too important not to have it. Even if you don’t end up signing the document, at the very least have a frank and open conversation about money before you get married. Love can’t be all you live on after all. Money does matter in a relationship.
For more information on pre/post nuptial agreements, divorce coaching and or divorce and support matters, please call for your complimentary consultation at 661-255-1800 or visit us at www.chromanlaw.com. Mr. Chroman is an award-winning attorney with over 17 years of experience and local service.