Wedding Season is Around the Corner!
If you are getting married this coming summer or fall, you certainly have a long “to do before I do” list in front of you. Is “consult with an attorney about a prenuptial agreement” on that list? If not, it should be.
Keep in mind, your wedding is not about just one day. It is about joining lives with your significant other and building a future together. It is imperative to speak with each other about your long-term goals (financial and otherwise). It is helpful to confirm that the two of you are on the same page financially and share similar goals. If you are, then memorializing such goals in a pre-nup should be a no-brainer.
What if you aren’t on the same page with each other, though? That may be even more of a reason to draft a prenuptial agreement then. You can draft an agreement so that each party retains his or her own assets and stream(s) of income, whether incurred prior to or during the marriage. Some couples also specify a certain percentage of monthly bills that each party will pay and/or a specific dollar amount to contribute to a bank account each month to pay bills. This allows parties to each keep what they make, but also contribute jointly to agreed upon household expenses. If that is the arrangement you choose, it is often easier to still reach your own individual financial goals as you will not be as concerned with the other party’s spending, investments, or other uses of funds.
If you are concerned about protecting your assets in the future, you should consult with an attorney and see if a pre-nup makes sense for you. Pre-nups are not only for wealthy individuals. On the contrary, they are for anyone who is concerned about their finances or reaching their financial goals. There is often still a negative connotation with pre-nups, but it is important for both parties to realize that they would be mutually protected, as a pre-nup could be considered invalid if it was too “one-sided.”
Ever argue with a woman? Let Wolf & Shore Law Group go to work for you and help protect your future. Click here, call us at 203.745.315, or email us at email@example.com.