Before getting hitched to your one true love, it’s important to remember that marriage means sharing. Everything. This includes your finances. What if it’s important to keep a separation between love and money? For some couples, this is an ideal arrangement.
At the very least, discussing a pre-nuptial agreement will get you and your future spouse talking about individual and shared finances. It can help you outline who is financially responsible for what — and what a budget looks like with two incomes compiled together instead of one income. There are twice the expenses, but often twice the salary. Post-nuptial agreements can help married couples agree to certain financial issues in a legally binding financial arrangement. This is a great option for a spouse who came into a large inheritance after marriage, for example.
Prenuptial and postnuptial agreements are complex documents that must be carefully structured in order to be effective. If a prenuptial or postnuptial agreement is challenged, the courts determine whether it was “fair” at the time it was executed, and fair at the time it is asked to be enforced.
Our law firm strongly encourages couples to seek separate legal counsel prior to signing a prenuptial or postnuptial agreement. This limits the opportunities for either spouse to challenge the agreement by claiming the person was deprived of the ability to have counsel or didn’t understand the documents being signed.
Our legal team has the experience and knowledge necessary to help you create a comprehensive prenuptial or postnuptial agreement that protects your assets and the other loved ones in your life. It is a great way to spark a necessary discussion between couples about money. Communication is always the best way to foresee confusion or disagreements about money.