I once heard the process of divorce being described as a business transaction that is littered with emotion. As in any business matter, the time to negotiate terms of a deal is not when the emotions are at an all-time high. In fact, that’s probably the worst time to attempt to reach an agreement. If two people wait until they are extremely upset at each other before they start to negotiate a deal, the chances of that process going well are slim. How can you focus on the crucial points of any business transaction if you are flooded with emotions such as anger, sadness, fear and/or regret? That’s exactly why contracts are signed at the beginning of a deal, when the parties are able to calmly decide the terms they are going to be contractually bound by.
The Time to Plan for Disaster is NOT During the Disaster
Marriage should be viewed no differently than any other business transaction. Why would someone wait until they are in the midst of an acrimonious divorce to start discussing the settlement terms? It just doesn’t make a lot of sense; however, this is the exact situation most people find themselves in when getting divorced. Without a premarital agreement, the parties will have to attempt to reach agreements on how their estate will be divided, at a time when those parties might have a difficult time just being around one another, nevertheless trying to discuss complicated matters such as asset and debt division. And if the parties can’t settle their differences due to their emotions, they will end up in court where a judge will decide how the assets and debts are divided. But, with a premarital agreement, you can take the uncertainty out of divorce and put the control in your hands.
Prenups Prevent Disaster
I realize that people often avoid entering premarital agreements because they believe their marriage will last forever. Others believe that, if they plan for a divorce, it will cause their marriage to fail. However, premarital agreements should be thought of just like insurance for your car or house – you hope that you never have to use it, but if you find yourself in a situation where it’s needed, you will be thankful you planned ahead.
Contact us at Grinke Stewart Law to discuss more about premarital agreements so that you can make an informed decision.
