No one goes into a marriage dreaming of divorce, but if you go into a marriage with significant assets, you would be wise to have a prenuptial agreement in place. A judge recently upheld the prenup singer Kelly Clarkson had with her soon-to-be ex-husband Brandon Blackstock, which segregates all assets and income earned during their marriage. Blackstock wanted everything split down the middle, but Clarkson was the clear breadwinner in the marriage and her divorce lawyer argued for “accountability” in the parties entering into this agreement.
Protect Yourself – Just in Case
The split between Clarkson and Blackstock has been heated and unpleasant. She will still be responsible for significant amounts of spousal support and child support, but her prenup has safeguarded the bulk of her assets. And that’s a good thing.
There are many benefits to a prenuptial agreement, and while it may seem like broaching this subject with your significant other is a sure way to poke a hole in a hopeful union, it’s actually just an insurance policy should the relationship go south. You buy car insurance, health insurance, homeowner’s insurance – just in case. A prenup is the same – a way to protect yourself, just in case.
Benefits of a Prenuptial Agreement
If you go into a prenup thinking about its benefits rather than its negative meaning, you may find that this kind of document can actually help boost your marriage in the long run rather than tank it.
- It forces you to have important money talks. Whether you are young and new to your career or older and well-established with significant assets, establishing a prenup forces you to have important money talks with your partner. You may never discuss this document again, but making your thoughts and feelings clear about your money and their money and our money and how it all shakes out will serve as a foundation-building exercise for a union full of healthy financial talks.
- You protect what’s yours. Wealth isn’t a prerequisite for a prenup. You don’t need to have a trust fund, a business, lottery winnings, family heirlooms, land holdings, or anything of significant financial value – you simply need to have something you want to protect. Whatever you want to safeguard by the potential end of your marriage in the future can fit into a prenup.
- Prenups can be about anything. Prenuptial agreements are primarily about financial matters, but new trends are developing in this area. Social media prenups, for example, allow a couple to set the standards of how much time each of them is allowed to spend on Twitter or the like, what information they can share, and who they can be friends with. If you want to make a binding contract for your marriage, whatever the topic, start by discussing its place in a prenup with your lawyer to see what’s possible.
A Prenup Makes Michigan Divorce Easier
Ultimately, if you do end up getting a Michigan divorce and you have a prenup, the toughest financial matters will have already been addressed. You will still have to deal with issues of child support, parenting time, and more, but you will have clarity about assets and debts instead of wasting time arguing about them with your spouse. And that offers great clarity and removes a great stress. Mediation may even be a more likely option.
If you’re ready to file for divorce, are interested in drafting a prenup or postnuptial agreement, or want to know how your existing prenup could affect your split, make an appointment with Femminineo Attorneys, in Mt. Clemens for a free initial interview.