Many people think that marriage is all about how much you love someone. While this is, of course, the crux of the matter, it’s also important to remember that marriage is about building a life with another person. A big part of that is money. Discussing money matters before taking the plunge is critical to build the foundation for a successful marriage.
What is a Prenuptial Agreement?
A prenuptial agreement is a legal document that catalogs what both parties are bringing to the marriage financially, and what will happen if a divorce occurs. Things like how property will be divided and whether alimony will be paid and for how much can be included in the prenuptial agreement. Before signing a prenuptial agreement, both parties must fully disclose all finances. This is one of the most important parts of a prenuptial agreement — it’s imperative to have a complete financial picture of the person you’re marrying before you get married.
Having the “Money Talk” Without a Prenup
Many couples view the notion of a prenup as “unromantic,” without realizing that a marriage is as much a legal transaction as it is a wonderful, celebratory event. Although it is highly recommended to have a prenup before getting married, it is still possible to get married without one. If you choose to forgo a prenuptial agreement, it is still important to have the “money talk.”
Be transparent with your spouse about your financial situation and whether you are bringing a lot of assets or debts into the marriage. Discuss who will be in charge of managing the money and what your financial goals are during the marriage. With so many divorces occurring because of disagreements about money, having the “money talk” before getting hitched can help ensure that you and your future spouse are on the same page.
Contact an Attorney Today
Whether your intention is to sign a prenup or not, it’s a good idea to know what your options are and to be able to fully understand them. By contacting an experienced prenuptial agreement lawyer, you can become informed about prenups and how to start your marriage off on the right financial foot.
Contact the Law Office of Elyssa K. Williams today for a consultation to discuss your rights and interests at (678) 566-6770.