After you get engaged, your mind is usually set on planning your wedding. It’s the next natural thing to do, after all, and when you’re in love, you don’t want to think about anything else other than marrying the love of your life. Unfortunately, there are realities that come with marriage, one of which is the fact that it might end at some point. For many years, a prenuptial agreement has been frowned upon by many couples because of the negative implication that a marriage could end. But today, millennial couples are not only making the extra effort to make the marriage work, but they’re also being more practical when it comes to finances.
A Prenuptial Agreement is a Wise Financial Decision for Couples
There was a time when prenuptial agreements only protected the party with more money, the husband in many cases, and started the stigma about prenuptial agreements. But millennials are showing more practicality, especially since both the man and woman are earning their own money.
Most couples also marry later than they were in previous generations and have already built their own wealth once they’re ready to tie the knot. With a better understanding of financial protection, millennial couples are tackling prenuptial agreements together instead of against each other and are seeing it as a wise financial decision rather than a curse on their marriage.
A Prenuptial Agreement not only Secures the Couple but their Future Family
While a couple may want their marriage to last forever, the fact that it might end at some point is simply a reality, one that younger couples these days have come to terms with and are willing to work on. A prenuptial agreement may not be required for everyone, but those who have accumulated considerable wealth, those with huge retirement funds, those with significant investments and even those who’ve been married before or have children from past relationships may want to get a prenuptial agreement.
Doing so doesn’t only provide security for both parties but also their future family, especially their children. If the marriage turns sour, both the husband and wife will know that they don’t have to start from scratch again.
A Prenuptial Agreement Promotes Fairness
One of the stigmas with prenuptial before was that many couples thought that it was unfair for one party to walk away with money that the other party worked so hard for. But when you think about it, prenuptial agreements actually promote fairness because you are given the choice on how to deal with your wealth, from the beginning, should your marriage end.
For instance, if you are earning more than your wife (or vice versa), you can set your prenuptial agreement to give her a significant part of your wealth so she can raise your kids well and still live comfortably and according to the lifestyle they’ve grown accustomed to.
The stigma of getting a prenuptial agreement is definitely a thing of the past. These days, it’s all about being smart and looking after everyone in your family.
The Law Office of Jon R. Boyd practices Family and Probate Law and has two offices located in Granbury and Plano, Texas. We‘re happy to offer our services here and to the surrounding areas: Plano, Frisco, Allen, McKinney, Lewisville, Denton, The Colony, Little Elm, Carrollton, Richardson, Addison, Dallas or Fort Worth