Mapping Your Marital Future: Tips for Discussing a Prenuptial Agreement

 Posted on January 15, 2014 in Divorce

So you are getting married! Congratulations! Now the whirlwind begins... Appointments with the wedding planner, the florist, the photographer, the banquet manager, the musical director, the clergy, the bakery manager, the dressmaker and the jeweler. Your schedule is filling up fast, so many discussions and decisions, but is there one discussion you may be avoiding on your growing list of "to-dos"?

 The Prenuptial Agreement Not for celebrity use only, the prenuptial agreement has been around as long as couples have been tying the knot. According to a New York Times article, the prenuptial agreement can be traced back at least 2000 years. Ancient Hebrew society drafted marriage contracts known as Ketubahs and the French included an agreement as part of the dowry as far back as the ninth century. Originally, these predecessors of the prenuptial agreement were drafted to protect the wife in case of her husband's death or divorce, as a form of predetermined insurance. Often today, a prenup suggests the protection of sizable wealth, but in all reality, an effective agreement can cover all the bases by eliminating lengthy and costly differences over assets in the event of a divorce. So how do you go about discussing this with your eager fiancee without finding yourself immediately thrown back into the dating scene? As unromantic as it may seem, if you are adamant about drafting a prenup, these tips may help when approaching your unsuspecting fiancee: Yours, Mine and Not Ours This may be the best argument for signing an agreement. For example, if you are still paying off student loans by drafting a prenup you can secure that your future spouse doesn't assume your debt. In the event your intended has investments made prior to your union, you can also ease their worries by legally refraining from any financial control of those investments. Financial consideration also protects both partners from any changes in state law regarding marital property.  Bringing Up the Kids Literally, when the little ones arrive, what's the plan? Will one parent leave the workforce to raise the children? A predetermined agreement can protect asset distribution for the stay-at-home mom or dad in the event of a break-up.  Cents and Sensibility By clearly defining goals, a prenuptial contract can be drafted for less money than the cost of two divorce attorneys in the event the marriage fails.  Mapping the Marital Future A prenup can also secure a standard of living without the many financial surprises a divorce can bring. Having set arrangements for alimony and residence determinations can ease the pain of divorce and the fear of the unknown. Child custody and child support, however, can not be determined in a prenuptial agreement.  The Golden Years If it would ease your fiancee’s concerns, a sunset clause can be added to the agreement. This allows an automatic termination of terms within a specified time period, protecting each person's assets early in the marriage. A prenup can also be terminated at any time if both spouses are in agreement.  Legal vs. Marriage Counseling Once your fiancee is on board, plan on scheduling an appointment with an experienced family law attorney to learn more about all of the options that are available to you. Executing an amicable prenuptial agreement can ease the tensions of constant "what-if's" as well as defining your marital goals. It may also prevent heated arguments about finances and responsibilities and thwart a trip to the marriage counselor. Your wedding day is destined to be one of the most memorable days of your lives, having a strategically drafted prenuptial agreement in place will only be the icing on your wedding cake. We understand the concerns. At A. Traub & Associates we are experienced with working with couples to draft a prenuptial agreement that will best suit everyone’s expectations. Contact us at 630-426-0196 to schedule your consultation today.