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Tough talks regarding prenups

On Behalf of | Dec 13, 2023 | Divorce

Whether a courtship lasts months or years, the moment that a soon-to-be spouse proposes marriage to their partner changes the dynamic of the relationship. The focus shifts to the upcoming nuptials and how life will be for soon-to-be spouses.

One of the more sticky situations engaged partners can find themselves in involves prenuptial agreements. Once seemingly for the rich and famous, the discussions, while challenging, can set a positive tone for the marriage. Open and honest communication can bring clarity to a future of wedded bliss.

Prenups on the rise

Prenuptial agreements are no longer exclusive to high-profile celebrity or billionaire couples and have witnessed a notable surge in popularity over time. A recent Harris poll reveals growth from three percent in 2010 to 15 percent in 2022. Younger couples are currently more likely to pursue the pact as opposed to older partners.

Nothing can sideline a marriage more than financial fights. A proactive pursuit of a prenup can help quash future conflicts and establish clear expectations. Studies reveal that couples can make more informed money-related decisions. Collaboration is critical regarding the needs of each spouse and how they can come together in agreement.

Conversely, other studies reveal a nearly 20 percent higher likelihood of a marriage ending when individual financial preferences replace joint planning. Without collaboration, each spouse has their own agenda, usually resulting in an inevitable clash and possible dissolution.

The bond of marriage helps to maintain harmony and balance, not to mention mutual respect. Discussing financial arrangements will also include individual assets and inheritances, particularly if one spouse enjoys more largesse than the other.