If for some reason you might want to introduce a family law concept guaranteed to inspire differing views and passionate debate, a prenuptial agreement might be your optimal calling card.
Because, unquestionably, marital contracts can be polarizing. Although they have been on the legal scene for decades, they still carry negative connotations for critics who allege their marriage-killing propensities.
Kentucky readers who follow family law news and developments have certainly heard the anti-prenup claims.
To wit: Premarital contracts inject negativity into a marriage even before “I do” vows are exchanged. They are clinically cold legal instruments that undermine love and trust.
Is that true, though? Do prenuptial agreements actually lack upsides that are mutually beneficial and even maritally enhancing for spouses who execute them?
The progressively elevated stature of marital agreements
Candidly, there must be something to commend prenups; such contracts are being discussed and ultimately crafted by a steadily increasing number of impending American spouses.
In the broadest sense, prenuptial agreements are arguably akin to nothing more than marriage insurance. One Kentucky legal source on family law and marital contracts stresses their ability to “safeguard your interests should a marriage end.”
A commentator on divorce-linked topics writing for the financial publication Bloomberg takes the analysis one step further. Erin Lowry directly challenges time-worn and stereotypical notions concerning prenups, calling them “romantic.”
And she poses this question: “What shows more intimacy than laying bare all your financial details?”
That sense of candor and transparency is reportedly what is progressively promoting the attractiveness of marital agreements for many marrying couples of all ages and demographics. A well-considered and carefully drafted prenup can provide for and address key matters such as these:
- Opportunity to discuss important values in a timely and dispassionate manner before marriage
- Identification of any separate property (e.g., trust income, inheritances and various other asset sources owned prior to betrothal) not designated as marital assets and subject to division in a divorce
- Expectations surrounding an existing or contemplated family business
- Safeguards for children from a prior marriage
- Understanding on child-centric matters ranging from education to religious instruction
- Spousal alimony
- Agreement on how to address/manage premarital spousal debt (e.g., credit cards and student loans)
“Having a prenup doesn’t mean you’re destined to get divorced,” states Lowry. What is does spotlight is your preparations taken that assess as accurately as possible future possibilities.
And it additionally confers this benefit: putting you and your spouse on solid ground concerning key marital points before you even commence a hopefully lifelong union.