Would you go skydiving without a backup parachute? What if you knew there was a 60% chance the first one would fail? Of course not!
Why, then, do so many people marry without a prenup, despite our divorce rate of 60% for first marriages (80% for second marriages and on up from there). Many people fear that a premarital agreement will symbolize a lack of faith in their relationship. This could not be farther from the truth. It acknowledges a fact of life- more than half of first marriages end in divorce. My divorce clients often tell me of their soon-to-be-ex, “s/he’s not the person I married.” You do not divorce the person you married. Wouldn’t you rather divide your finances while you’re getting along?
A well-negotiated prenup does not have to be one-sided. A prenup should benefit BOTH parties in the union, and is a planning tool in the event of a divorce of death of the other spouse. It is an investment planning tool for your children, your retirement, and your heirs.
Call Taibo Coombe Law today to discuss how a premarital agreement can help you, and how to bring up the subject to your partner.