There is a distinction between irreconcilable and reconcilable differences when it comes to separation and divorce. The focus of this article is on the reconcilable ones. When the relationship changes to a point where there will be a separation and divorce, there are certain issues that need to be addressed so that both parties can financially disentangle and move on with their lives. Emotional disentanglement takes time. When there are children, emotions can be purposefully directed to a cooperative parenting plan so that the children can benefit from the qualities that each parent brings to the family. For more on co-parenting agreements, please see my article entitled: Co-parenting, Where do I start? Continue Reading
Articles Tagged with separate property
Prenuptial Agreements: What should your agreement cover?
Prenuptial agreements (“prenups”), much like relationships themselves, are not “one size fits all.” Each couple has a unique set of goals and issues to be addressed. The content of a prenup reflects these individual objectives. People hesitant about obtaining a prenup often conflate the idea with certain common misconceptions and opinions. One sentiment often brought up is the notion that prenups only prepare for divorce. However, the principal goal of a prenup is to clarify expectations about the couple’s future regardless of whether there is a divorce. I have written in the past about the benefits of prenups for all kinds of couples. A prenup can act as a platform for compromise, while allowing couples to be proactive about their future, the management of their assets, and the expectations for their lifestyle. Once a couple does decide to obtain a prenup, what should the agreement actually cover? Continue Reading