Sam Hasler, of the Indiana Divorce & Family Law Blog posted this week about an article on Prenuptials on Mom.Dad.Chat blog and commented on it. Both were interesting, so I am reposting them here. First the Prenuptials article:

We all know that many wealthy and famous couples actually draw up prenuptial agreements prior to getting married. How much each party is entitled to should the marriage ends in divorce in terms of cash and assets are spelled out in clear terms.

But nowadays, it seems that not only the rich and famous are signing prenuptial agreements. Even ordinary couples are drawing up prenuptials prior to walking down the aisle.

What are the pros or advantages of a prenuptial agreement?

  • All money and assets are out in the open.
  • Rights of both parties can be protected, including that of children and step-children.
  • Responsibility and expectations of each party can be spelled out.
  • No messy divorce to contend with if the relationship sours.

The cons or disadvantages of a prenup are:

  • Takes the romantic notion out of the relationship.
  • The element of trust seems to be missing between the couple.
  • When you are deeply in love, you may agree to something that may not necessarily be fair to you.
  • Nobody can predict the fortunes of a couple. If your spouse’s net worth have increased during the years of your marriage, you will be limiting yourself to the agreed upon amount previously.

In these days of high divorce rates, a prenuptial agreement seems like a practical thing to have. Personally, if I’m a 30 something year old woman who have tons more money than my prospective husband, I too would probably want to have a prenuptial agreement drawn up. Who knows if the man is a gold-digger, right?

But funnily, if it is the other way round, I think I might just get offended if asked to sign one. Not only it pains me to learn that he doesn’t seem to have faith in the relationship, it is equally hurtful to know that he cares for his money more than me! But then again, if I truly love him and not after his money, it follows that I should not mind signing a prenuptial, right?

Well, maybe we all like to say that we don’t care about money but the reality may be very different indeed. So, what would you do – would you say bye-bye to someone who makes you sign a prenuptial agreement?

And here is Sam’s comment:

Some insights gained from reading :

In these days of high divorce rates, a prenuptial agreement seems like a practical thing to have. Personally, if I’m a 30 something year old woman who have tons more money than my prospective husband, I too would probably want to have a prenuptial agreement drawn up. Who knows if the man is a gold-digger, right?

But funnily, if it is the other way round, I think I might just get offended if asked to sign one. Not only it pains me to learn that he doesn’t seem to have faith in the relationship, it is equally hurtful to know that he cares for his money more than me! But then again, if I truly love him and not after his money, it follows that I should not mind signing a prenuptial, right?

Lawyers love the idea of prenuptial agreements because we see them as innocuous compared to the perils of divorce. Real people see them a little differently. We, the lawyers, need to adjust our expectations and work on educating the potential clients.

SOURCES FOR POST: Mom.Dad.Chat  and Sam Hasler’s Indiana Divorce & Family Law Blog