With financial stressors and disputes between couples being the leading cause of marital strife, often leading to divorce, it makes more sense than not to consider a prenuptial agreement.
Prenuptial agreements are contracts entered into prior to marriage and set the financial boundaries in the event of a divorce or separation. Prenups are not exclusive to those who already have assets. Notwithstanding the stigma of being offensive enough to repudiate the wedding entirely, they are important if not for the protections they implicate, but for the discourse and conversation they create between couples.
Many couples find themselves in a divorce because they never discussed what their financial partnership (which is how New York courts view a marriage) in advance, and until it is too late. Years go by and they find themselves with a spouse who is a bad business partner.
To broach the topic of a prenuptial agreement may not be romantic, but it may in turn result in a stronger marriage. Moreover, the purpose of a prenuptial agreement is define what the expectations are in the event of divorce – which is not an unrealistic outcome, and can be extremely costly when contested.
Reach out to us if you are considering marriage and would like to learn more about prenuptial agreements.