I have written at length about the benefits of prenuptial agreements in building a strong marital foundation. While many couples seek the benefits that a prenup can provide, there is an increasing number of couples that choose to live together for the long term without getting married. Although they may not choose to marry, these couples often want the same (or similar) protections that are sought through a prenup. While certain benefits and protections come only with marriage, there are certain issues that can be addressed in a written agreement. Continue Reading
A Prenuptial Agreement (“Prenup”) is more than just a legally binding contract. Prenups can help create a solid foundation for how the financial aspects of your relationship will work during the marriage. This helps to build trust and effective communication moving forward. That makes it a wise investment. Negotiations should be conducted with a spirit of cooperation and transparency about financial matters. The goal is to enter the marriage with a full understanding of your situation and clarity on expectations. Continue Reading
Prenups, Post-nups and Separation Agreements are used to address finances and other issues concerning marital rights and obligations. As I have written in the past, prenuptial agreements are an opportunity for couples to have comprehensive discussions about each partner’s finances leading up to the wedding. Additionally, prenups provide an opportunity for the couple to navigate the financial path they would like to take during the marriage. Similarly, post-nuptial agreements afford couples the opportunity to have conversations about finances during the marriage. If a couple is contemplating divorce and has not executed a pre or post-nuptial agreement, a Separation Agreement can be negotiated. A Separation Agreement is a very detailed written contract that you and your spouse voluntarily sign without involving the court. It addresses all of the financial and other issues of the marriage. Continue Reading
The effects of the COVID pandemic are being felt throughout the world in big and small ways. The impact is seeping into the many aspects of daily life. As we all adjust to remote attendance at work, school and other activities, the COVID pandemic has brought home the importance of family relationships. Couples planning their wedding (or expecting to be married soon) have had to rethink the timing and nature of the event. Romantic partnerships have been tested and priorities reassessed.
While some couples have chosen to adjust their wedding plans and are having virtual ceremonies for family and friends to attend via live stream or Zoom, others have opted to trim down the guest list and attempt to celebrate safely and socially distanced. For many couples, the best plan has been to postpone the wedding until a return to “normalcy.” For these couples, there may be a silver lining. Continue Reading
A prenuptial agreement is a written contract between two people that is entered into before marriage and takes effect upon marriage. This document has become more popular as couples realize the importance of clarifying expectations and setting a good foundation for communication about finances (and other issues) before the marriage.
Each couple has a unique set of goals and issues to be addressed and the prenup can be specifically tailored with that in mind. Without a prenup, state laws dictate who owns the property acquired during the marriage as well as what happens upon the dissolution of the marriage.
Why get a Prenup? Continue Reading
For couples facing divorce, the accompanying changes may seem endless. An often overlooked, yet extremely important consideration for divorcing couples is a review of the existing wills and other estate planning documents such as a health care proxy, financial power of attorney, and living will. Other documents that should be reviewed are beneficiary designation forms for retirement assets and life insurance policies. Often, a party’s recollection of the beneficiary designations and other provisions is not consistent with the documents. All of these forms should be looked over carefully upon a divorce to ensure that the documents reflect each party’s intentions and conform to the Separation and Settlement Agreement entered into by the parties. If there is a prenuptial agreement in place, it should also be reviewed to determine what the other spouse is entitled to in the event of death. Continue Reading
With Valentine’s Day upon us, it is a great opportunity to discuss the positive effects that prenups can have on a relationship. In my book, Prenups and the Elephant in the Room, I cover the common misconceptions about prenups, and how couples can work together to face these misconceptions. Below is an excerpt from my book which discusses the misconceptions themselves, as well as how couples can use these misconceptions to start the discussion about a prenup. Continue Reading
Prenuptial agreements are on the rise for Generation Y individuals, or “Millennials”, according to recent reports in the news. What is it about this group that is lending itself to an uptick in prenups? Continue Reading
Social media is all around us. In today’s world, around-the-clock accessibility through social media has become the norm. It seems as if everyone is constantly updating their status or tagging their pictures so that we know exactly where they are and what they are doing. Couples are realizing that updates on an individual’s whereabouts and thought on social media can affect their family. Continue Reading
High-stakes negotiations are often characterized as intense back-and-forth battles where only one party wins. The winner takes all while the other party may suffer a loss of both objectives and dignity. A loss of dignity in negotiations for a prenup can have a long-lasting effect on the relationship. Negotiating a prenup can (and should) be about coming to a mutually beneficial agreement for both parties. While the marital relationship is considered an economic as well as social partnership, establishing a foundation for the economics of the relationship can be challenging. The goal of the negotiation should be conducive to creating a durable, family-oriented agreement. Below are five reasons the “art of the deal” is not a zero sum game when it comes to family: Continue Reading