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Divorce: Prenuptial agreements can reduce potential conflict

Prenuptial agreements are rarely thought of as romantic when a California couple is preparing to get married. One or both of the future spouses may believe that bringing up the need for a prenup gives the impression that divorce in the future is a possible outcome. However, financial advisors believe that such agreements can actually strengthen a couple's relationship.

Matrimonial experts acknowledge that, when one person in the couple has a significantly larger income or assets, the issue of a prenup can be a delicate one. The goal is to create an appropriate balance of maintaining the couple's relationship while addressing the financial situation. Advisors cite boundaries, power and giving and receiving as areas at the greatest risk of imbalance.

Boundaries addressed in a prenuptial agreement often go beyond financial considerations, such as how a family business may be handled. Many prenups address how time should be prioritized or how holidays will be spent if there are blended families. If one member of the couple brings a disproportionate level of assets to the relationship, it may be necessary to ensure that both spouses are empowered to make financial decisions. Also, if both have access to resources, possible guilt or resentment are minimized in the acts of giving and receiving.

Prenuptial agreements can be very useful documents for couples planning to marry, regardless of income levels. If a couple has already tied the knot, it is still possible to create a post-nuptial agreement. A California divorce attorney can assist individuals with these types of agreements. A trusted lawyer will help develop a plan that specifically addresses a client's needs and best protects his or her interests.

Source: wealthmanagement.com, "Prenuptial Agreements: Beyond the Necessary Evil", Keith Michaelson, Don Opatrny and Mark Haranzo, Feb. 7, 2018

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