Whatever the circumstances of your marriage, times and people change. Many couples reach a point where it is time for a fresh start. If they choose to go their separate ways, both parties need to reach a number of agreements concerning finances, possessions, child custody and the decision to file for divorce. For some couples in Missouri, this feels like an unlikely outcome. Others, however, choose to make provisions for divorce, in case their marriage doesn’t last forever.
A survey of some people at St. Louis’ own Burnin’ Love Festival in Forest Park recently revealed that a number of couples understandably did not wish to go into marriage thinking about divorce. This was particularly true of young couples entering into their first marriages. Other couples, however, felt that it was important to plan ahead, so as to make any potential divorce proceedings as smooth as possible.
One suggested option was the signing of a prenuptial agreement. This can be particularly helpful in cases of high asset divorce, where one or both parties have considerable assets to be allocated. This type of agreement is also useful if a marriage ends bitterly, as a prenup can help to limit disputes.
These agreements are not always flawless, however. A prenup can be challenged if it appears to have been unfair or if either party was dishonest at the time the agreement was signed. An attorney can help draft a prenuptial agreement that can be enforced.
In any case, planning for the unforeseeable future is not a bad idea. Aside from establishing a plan for a possible split, a prenuptial agreement can effectively get both parties on the same page about what to expect in terms of finances during the marriage.
Source: St. Louis Post-Dispatch, “Plan your divorce before your wedding day,” Jim Gallagher, Feb. 23, 2014