With the advent of no-fault divorce, Prenups have grown in popularity. However, married couples and their attorneys are divided over whether prenuptial agreements are the way to go.
One camp argues that current divorce laws mandate a fair and equitable divison of assets, making a prenup not only unnecessary, but an indicator that a couple expects the divorce to fail. They believe prenups tend to make one party invulnerable, with little incentive to try to work things out if the marriage falters. Without the prenup, the financially stronger partner has to engage in more compromise in the course of the marriage, rather than just calling it quits when the going gets tough.
Those advocating prenuptial agreements disagree. Many believe that discussing, and ultimately committing to a financial agreement strengthens the marital bond. This is particularly true when there are ex-spouses and children involved from a previous marriage—they are more willing to accept a new spouse if their financial interests are protected by a prenup. Advocates also point out that, in the event the marriage fails, having the financial arrangements set can lead to smoother divorce proceedings.
All can agree that marriage is not only an emotional and spiritual bond, it is an economic partnership. Whether you have a prenuptial agreement or not, marriage has real economic consequences before the law. If you have questions regarding prenuptial agreements, Attorney Ronald Bell can help. Contact our office today.
Source: Psychology Today, “Let’s Make A Deal” by Carlin Flora, Reviewed October, 16 2012