The Relationship Between Prenups and Divorce
A couple may choose to not file for a prenuptial agreement in fear that a prenup will make divorce more likely. Here’s a breakdown of the relationship between prenups and divorce.
A prenup may not make divorce more likely. Couples may find financial clarity through prenups, yet should have thorough conversations about whether it is appropriate for their relationship.
What is a prenup?
A prenuptial agreement (also referred to as a “premarital agreement” or “prenup”) is a legal contract outlining a couple’s properties and finances in the case of a divorce.
Intended spouse(s) with large amounts of wealth or who owned a business may seek a prenuptial agreement. Even without pre-acquired wealth or businesses, prenuptial agreements help protect assets under the couple’s agreed terms.
Related: How to Enforce a Prenuptial Agreement in California
What do prenups protect?
Each state has different rules regarding prenuptial agreements. Common topics in a prenup include:
- Income
- Debts
- Real estate
- Present assets
- Future assets
Couples have complete control over asset division when drafting a prenup, but should consult with family/divorce lawyers to ensure the agreement follows their state of residency’s divorce guidelines.
Related: How to Get a Prenup in California: Prenuptial Agreements
Elements of a Prenup Agreement
Prenups must follow these guidelines before approval:
- Must be a written agreement
- Both parties consented to all terms
- Both parties fully disclosed all property and assets
- Terms are fair to both parties
- Signed before a notary
Misconceptions About Prenups
In 2019, there were 15.5 divorces per 1,000 marriages. Despite this, less than 5% of divorces had a filed prenup. Misconceptions about prenups may be a reason for the low statistic.
Couples commonly assume negotiating property and asset division implies distrust in the relationship, deterring them from understanding the potential benefits of a prenup. However, finances are a leading cause of divorce. Prenups give couples an explicit opportunity to discuss their financial expectations for the marriage. Although discussion over finances may seem uncomfortable, some family lawyers believe couples can strengthen their trust in one another through open conversations about money prior to getting married.
It is ultimately up to each couple to analyze each spouse’s attitude regarding money and determine if getting a prenup would harm the relationship. Filing prenups can be stressful and can cost more than $1,000, which makes it crucial for couples to remain transparent and respectful of each other during the drafting process.
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If you or a loved one would like to learn more about whether a prenup makes divorce more likely, get your free consultation with one of our divorce attorneys in California today!