Marital contracts: “divorce insurance” providing security, assurance

When thought through rationally, many people who formerly objected on knee-jerk grounds to the idea of a prenuptial agreement or postnuptial contract in their marriage come to think of those legal instruments in quite different terms.

That’s really not surprising, given that, when the emotional response that some persons have when it comes to such contracts is removed, being replaced by the logic and intent that underlies their execution, prenups and postnups come into sharper focus as simple planning devices. One key aim in drafting them is to enable a couple prior to or early in their marriage to identify and talk about what they value — personal assets, real property, family inheritances, religious traditions, child rearing and virtually any other consideration — and to then spell out in writing how they want to secure outcomes related to those matters down the road.

In other words, a marital contract can be seen quite logically as an important planning device that can sharpen issues for a couple and provide them with a strong base of stability by addressing economic security and by removing future uncertainty.

“Love doesn’t conquer all,” says one marriage consultant. “Marriage isn’t only about love, it’s about so much more.”

Another commentator notes that a martial contract can logically be viewed as a type of divorce insurance. With clarity as to important matters such as property division comes peace of mind.

The active involvement of an attorney well-versed in negotiating and drafting marital contracts is key to ensuring their relevance, accuracy and enforceability.

Source: Fox Business, “Why you should consider a prenup,” Andrea Murad, Feb. 4, 2013

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