Very few people enter marriage expecting to be divorced. Yet, the numbers don’t lie. About 40 to 50 percent of married couples in the United States divorce. The divorce rate for subsequent marriages is even higher. That means close to half of the people standing at the altar saying “We’ll be together forever” are simply wrong.
Do you love your fiance? Absolutely! Do you want to be with them until “death do you part?” Yes, of course. Realistically, is there a chance this doesn’t happen? You have to say yes to this too. This is why you should educate yourself on prenuptial and postnuptial agreements. You read that right. Even if you’re already married, it’s not too late to get your finances separated and your future protected.
You should know that judges are typically very “generous” in terms of their treatment of the financially weaker spouse during a divorce. A financial agreement, whether entered into before or during the marriage, can go a long way towards protecting your assets. This includes an existing family business, trusts, stocks, bonds, savings, properties, anything you are bringing or brought into the marriage, and valuable personal belongings. All of this may otherwise be vulnerable during the divorce proceedings.
“We don’t need that” you are saying. A common misconception is that prenuptial and postnuptial agreements are only necessary and helpful for individuals who are already very wealthy. You picture a person who is going to inherit extensive dynastic wealth needing an agreement like this. Those people certainly do need prenuptial agreements, but they’re not the only ones. Here at Ellen Cronin Badeaux, we represent a broad range of clients, from the entrepreneur looking to protect his or her investment in new businesses, to the wine connoisseur seeking to secure a long-held collection, to a musician hoping to finally land a record deal. Yes, these agreements can be used as a means of protecting potential wealth, like the growth of a start-up company or future business ideas in addition to tangible assets.
Does getting a prenuptial or postnuptial agreement mean you think you’ll get divorced? No! In fact, the opposite is true. These agreements can serve as a roadmap for a healthy marriage by laying out clear principles and rules regarding the couple’s finances and how these are to be organised during the marriage. This reduces the areas of contention during a marriage and in the unfortunate event of divorce, it will go much smoother and quicker.
If you’re in the New Orleans, LA area, Ellen Cronin Badeaux is here to help you with these goals! We have NOLA family attorneys who can handle this expertly for you. Call us at (985)-892-1955 or email us at firstname.lastname@example.org to book an appointment.