“Tis the Season to Get Engaged” – Why You Should be Considering a Prenuptial Agreement
With the month of December being one of the most popular times to get engaged, Glenn and Phanco, P.A., only finds it appropriate to touch on the importance of considering a Prenuptial Agreement. Too often by the time clients reach our office, relationships have taken on a less than cordial behavior. Depending on the severity of the break-up, almost everything built prior and during the marriage can be at risk, which often leads to a less than pleasant experience during the divorce proceeding.
Unfortunately, Prenuptial Agreements have taken on a bad reputation. Your fiancé may suspect that you are already “thinking” about divorce and are only selfishly trying to protect your assets, rather than seeing the true benefits that Prenuptial Agreements actually offer. When the marriage planning begins, there is a certain harmony amongst couples that should encourage negotiations “in the event” the marriage does not work. As most of you reading this already know, 1 out of 2 marriages will end in divorce. This is not a random or made-up statistic, rather one that is backed by real numbers.
As you and your fiancé start hiring all your different vendors to ensure that your dream wedding comes true, the conversation of having a Prenuptial Agreement should not only find a place in those conversations, but rather should take its place as a priority. As the generations of newlyweds entering into marriage are usually beyond the age of 25, a lot of couples have already established their careers and have often taken on new ventures, such as investments and property ownership. It is therefore crucial that you consider how you as a couple, would like to proceed in the event of a divorce.
Another misconception regarding Prenuptial Agreements is that most people consider them to be a planning strategy for the wealthy only and therefore an unnecessary document to prepare. This is far from the truth however, as Prenuptial Agreements can spell out how property and assets accrued “during” the marriage will be divided. They can also spell out how the couple will handle finances, such as bank accounts, retirement accounts, as well as other liabilities, such as credit cards and loans. Some additional questions to think about are how you plan to divide assets in the event of a divorce? Do either of you anticipate any inheritances from your parents or family members? What about property and using marital funds to improve your home? Is alimony something both of you are willing to waive? Or perhaps you have children from a prior relationship and plan to pass down personal or real property to them instead of your soon-to-be new spouse.
Prenuptial Agreements are wonderful tools that not only should be contemplated, but really ought to be considered to be a part of your pre-wedding “to-do” list. We understand that discussing the idea of a Prenuptial Agreement with your fiancé can be intimidating and also ill received. We at Glenn and Phanco, P.A., can help and advise you in bringing up the topic in a non-threatening manner which will allow your fiancé to feel at ease and comfort.
With the Holiday Season upon us, we would like to offer all our readers a reduced Prenuptial Agreement rate of only $750.00. By allowing us to assist you in the preparation for your future, we confidently can state that the Prenuptial Agreement will save you not only a lot of money, but can spare you from sleepless nights filled with anxiety. Don’t be the client that comes in filled with fear and doubt regarding your assets and property. Be the client that was well prepared and who negotiated fairly while times were filled with bliss. Contact Glenn and Phanco, P.A., today for a consultation and let us take it from here.
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