Getting Married? Experts Say You Should Also Plan for a Divorce

 Posted on March 01, 2018 in Prenuptial and Postnuptial Agreements

Discussing a legal document that outlines your divorce before you are even married may not seem like the most romantic move. However, experts are now encouraging couples to talk about their finances, as well as the possibility of a divorce, before they wed. Part of this is due to the increasing prevalence of divorce and second marriages among older adults, and the intentional delay of marriage among millennials. The increase in entrepreneurship and small businesses are yet another factor.

Thankfully, a prenuptial agreement can help in these situations (as well as others). Learn more in the following sections, and discover how an experienced family law attorney can help you plan for the worst possible situation without it tainting the joy of your impending marriage.

Step Out of Your Emotions

Falling in love, planning a wedding, and anticipating all that the future may hold can be exciting and it may even leave you feeling a little reckless. Just remember that you will be stuck with your spouse’s financial habits when reality sets in. If they happen to contradict yours (perhaps you prefer to live and spend for the now but your spouse likes to save for the future), that could lead to some conflict down the road. Be rational about it now, while you are still in the blissful stage of your relationship – and be willing to have the hard conversations before you have fully committed to a lifetime of financial habits that drive you insane.

Give Yourself Ample Time Before the Wedding

Prenuptial agreements are complex legal agreements that are designed to direct assets, should you and your future spouse ever divorce. Provided they adhere to the letter of the law, prenuptial agreements are also generally enforceable, right down to the letter. It only makes sense that you both should have adequate time to review and discuss the terms. Having a completed document at least a year before the wedding is ideal. At a minimum, parties should have at least six months before the wedding to review the documents.

Focus on Creating a Reasonable and Enforceable Document

Despite the way that Hollywood portrays them in movies and television shows, prenuptial agreements are not meant to be used as a bargaining chip or tool to gain control in the marriage. Instead, it is supposed to define the financial aspects of your marriage (will you co-mingle your bank accounts?) and outline the rules of your divorce. Treat it as any other contract, but respect that it is being created with someone you love to ensure that you are both protected from financial devastation, long into the future, even if your marriage ultimately ends.

Contact Our DuPage County Family Law Attorneys

If you are planning on marrying and would like to ensure that you and your future spouse are protected from the financial risks of divorce, contact Davi Law Group, LLC for assistance. Our experienced DuPage County family law attorneys can examine your current financial situation, explain your options, and assist you in crafting a prenuptial agreement that can hopefully satisfy both parties. Schedule your personalized consultation by calling 630-580-6373 today.

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