As many of you may know, marriage can be bliss. Oftentimes it’s not, and that’s when both parties suffer. Many marital problems result from arguing over money. Why is it that most people get married without any type of formal agreement regarding finances? In this article, I will try to explain why prenuptial agreements may be a good thing for the modern day married couple.
When a man and woman marry, statistically, it’s usually the man that provides the money, and the woman that is the housekeeper. Lately things have changed, and many men are taking the role of stay at home dads. I’m not here to say which scenario is better, because I think both are legitimate and one shouldn’t be ashamed of their role in the family. So before I start talking about prenuptials, let’s get rid of the idea that this article will favor men.
Let’s Say You’ve Been Married for Over 10 Years
You may start to feel a little bored in your marriage, longing for your independence once again. But with a spouse to support, what are you to do? You can’t just pack your bags and leave. Essentially the best idea is to try and rekindle the flames of passion which attracted you to your spouse in the first place. If your marriage is getting a little rough, you might consider a divorce. But where does that leave you financially? Will you have to pay alimony? Divide your assets and continue to pay a mortgage for a place where you don’t live anymore? If you’re going to end up paying your spouse after a divorce, it’s probably cheaper to stay within the marriage. Your expenses can double in some instances if you leave your spouse.
This is where prenuptial agreements can save you a big headache, not to mention your hard earned dollars. The prenup states that each spouse is not entitled to another’s finances and assets in the case of a break-up. Sure there are many clauses that can be added to the agreement, but that is the big idea. If you and your spouse both had $10,000 each when you married, and one of you ends up making a million dollars annually, then the other is not entitled to half of your income in the case of divorce. This makes a separation way easier in terms of paperwork, and figuring out who owes what and how much. The only drawback is that the spouse who has stopped working now has to provide for themselves, and get back to work in most cases. After a long hiatus, that may be difficult, but for most it’s doable.
Does This Mean that Prenuptials Prevent a Marriage from Having True Love?
After all, if you truly love someone, then why would you have them sign a contract that puts doubt into whether the relationship will work in the first place? Yes, it’s all about money. All the rich people do it, and there’s still plenty of love in most of their marriages. But that doesn’t mean if you’re not making a million dollars that a prenuptial agreement won’t serve you well.
We all know that there’s a chance of divorcing when you decide to get married, and since you’re already paying for most other types of insurance for your health, home, and car, then why wouldn’t you consider this piece of insurance for the most important decision in your life? So I say to you: if you care about your career and future financial independence, and are about to get married, don’t hesitate to look further into prenuptials. With today’s litigious society, prenuptials are a good way to hedge against marital disaster.