With the recent ruling by the Supreme Court legalizing same-sex marriage across America, there has been a huge increase in legal questions. One of the more popular topics is that of pre-nuptial agreements and whether or not gay couples should formulate one prior to their union.
The word “prenup” has a negative connotation in society. When you hear the word, images of bitter divorces run rampant through your imagination. Despite this scary possibility, what’s even scarier is heading into a relationship without giving logical, honest thought to what marriage truly means.
A pre-nuptial agreement is an agreement made between potential spouses. This agreement specifies which spouse is entitled to which community assets in the event of dissolution of marriage. Community assets are known as what you bring to the relationship table. Everything from your home to your bank account is considered an asset. It includes everything that you currently own as well as the things you’ll be investing in, in the future.
The most common reason couples claim they don’t need a prenup is because they don’t plan on divorcing. You’re right. There are few, if any, people that go into a marriage with the intention of divorcing. Despite this the divorce rate is still quite high.
Did you know that a prenup could actually have an incredibly positive impact on your relationship? In fact, a prenup can protect:
- You from taking on the debts of your spouse
- Your property once you die
All couples are susceptible to divorce, be they straight or same-sex unions. With the average age of men and women getting married continuing to climb, it’s possible the divorce rate is lowering. After all, when you’re older, you’re more in tune with what you want. But being older means you’re also risking larger losses. If you’re an established adult with a bank account, credit cards, investments or even a pet, you have a lot to lose by not ironing out a prenup with your future spouse. And while it’s romantic to think that things could be handled amicably if the need arises, people can always surprise you.