A belief of impossibility has led to many tragic stories in history. We are likely all acquainted with the story of the mighty ocean liner, RMS Titanic. It was said that the Titanic was so safe, “God himself could not sink her.” But on the Titanic’s maiden voyage, she struck an iceberg in the Atlantic Ocean and sank with the loss of 1,517 people. Tragically, the Titanic took over two hours to sink, leaving plenty of time for everyone aboard to escape in lifeboats—but there were not enough lifeboats. The belief that the Titanic was unsinkable had led the designers to equip the ship with only enough lifeboats for approximately half the passengers and crew. Unfortunately, the impossible was proven to be possible.
Statistics show that 1 out of 3 people who marry will divorce. The idea of a marriage in which you will never let go is a noble one, and certainly possible too, but it may be wise to consider the history of the Titanic and remember that it can be wise to prepare for unfortunate future events.
Prenuptial agreements can include a wide variety of terms—including who gets which pets—but most often clarify issues of property and spousal support. Rather than a fight over who gets what property, am effective prenuptial agreement will clearly set forth who takes which items of property in the event of divorce. Most of us know someone who feels they lost more than their fair amount of property in a divorce or pays too much spousal maintenance. A prenuptial agreement sets forth terms that can protect you in the future.
Prenuptial agreements are not for everyone. Questions to ask yourself in determining if a prenuptial agreement is right for you include:
- How long have you known or dated your fianc?
- What assets (property/money) do you have?
- Is there disparity in value between the assets each of you bring into the marriage?
- How long has it taken you to earn these assets?
- Have you or will you be receiving a large inheritance?
- Is this a second marriage?
- Are there any children from a previous marriage dependent on you?
- Are any other people, such as parents, dependent on your support?
This article represents just the “tip of the iceberg” of information about prenuptial agreements. Any of our family law attorneys at Rowley, Chapman, Barney & Buntrock would be happy to consult with you about any questions or concerns you may have. Please call us at (480) 833-1113.
“Happy marriages begin when we marry the ones we love, and they blossom when we love the ones we marry.” –Tom Mullen
