Embarking upon a marriage is a wonderful time in life - emotions are running high and you have great optimism about the future you will build together. The last thing you want to do is jeopardize your love by discussing mundane things like who brings home the bacon, who cooks it and who cleans up after. But what better time to talk about equality in marriage than when the two of you have never felt closer? You both need to commit to equality in marriage from the start. It is particularly important to create a prenuptial agreement (also referred to as premarital agreements and marriage contracts) that reflects equality in financial matters.
Asking each other serious questions about how you see finances in the marriage partnership may save you pain and money later - and might even save your marriage. We agree it's tough - not to mention unromantic - to discuss splitting assets and assigning debts before you reserve the wedding hall, but don't be shy about bringing up the subject. What could be more romantic than to spend several hours together looking ahead to the rich and wonderful life you will build together and discussing how you will make your dreams come true?
A prenuptial agreement is a private agreement between two persons contemplating marriage. The couple generally settles, in advance, financial matters in the event of death or divorce." Lifestyle" or non-financial topics also may be included. The contract overrides and preempts state, family and probate laws that otherwise would apply.
There are three basic rules that should be followed to safeguard your agreement: full and fair disclosure, separate and independent counsel, and ample lead-time before the wedding.
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