Prenup is a bad word for couples who want to get married. A prenup implies that the marriage might not last forever, and that’s something that most people about to get married simply don’t want to consider. But prenups could potentially help your marriage, and prenups will certainly make your life easier if, heaven forbid, things don’t work out.
How can a prenup help my marriage?
One the biggest personal responsibilities in life is budgeting. Managing your money can be difficult enough on your own, but when you add another person to the equation, it can be even tougher. A prenup is a tool you can use to help you in budgeting. For example, the parties can agree to maintain separate banking accounts but to also maintain a joint banking account for certain expenses.
You can figure up all your bills and expenses and both agree to contribute amounts to this joint account to cover those mandatory expenses. You can also agree to contribute certain amounts to savings accounts, rainy day accounts or retirement accounts that are also the joint property of both parties. But then each party can have a separate account for anything else they’d like to spend money on. Your husband can go buy a set of new golf clubs with the money from his separate account. Your wife can buy a new KitchenAid stand mixer with the money from her separate account. No more fighting about how you spend your joint money. You agree beforehand what you expenses you are going to share and how you are going to pay for them. Then there’s nothing to argue about. Even though you’ll probably still find something to argue over.
How can a prenup make divorce easier?
The answer to this question is probably more obvious. A prenup essentially splits up all your assets and liabilities prior to marriage so that you don’t have to fight about it if you decide to get a divorce.
You and your soon-to-be-spouse can use a prenup to set out what each of you have before entering marriage and how property you acquire during marriage will be classified. You can determine whether you want certain assets to be joint or separate. You can also determine who will be responsible for certain debts incurred and how you will handle the filing of your taxes.
Sitting down and doing all of this before you get married is sure to be easier than trying to figure out how to split it all up later on the down the line when things haven’t worked out. Moreover, agreeing to a prenup means that you will decide how your assets and debts are split up. A judge won’t have the ability to split it up however they see fit, and lawyers won’t be involved trying to make sure their client gets as much as they can. And to circle back to what was discussed above, dealing with these issues before they become issues, before they become a point of contention, can benefit your marriage.
Call our Forney family lawyers today.
Our Forney family lawyers at Guest & Gray can help you draft a prenup that meets your needs. Call us today at (972) 564-4644 to set up a initial consultation. We’d love to sit down with you and discuss your options.