Flip the prenup into a financial planning tool
MarketWatch had a good recent article discussing how a Prenup should be treated, for most, as an excellent financial planning tool. From the article -
"It’s time to rethink the prenuptial agreement.
Instead of seeing it as a way to simply protect your assets in the unfortunate event of a divorce, consider treating it as a tool to build a long-term financial plan with your partner before entering into marriage. Couples marry later in life and many bring debt with them, so prenups aren’t solely for millionaires. Rather, they can be a way for couples to have an open and honest conversation and get on the same page financially.
Talking about combining your finances might reveal surprising differences or even concerns, such as how you want to live your retirement years (think traveling the world versus playing golf all day), who (if anyone at all) is expected to be a stay-at-home parent, or a spouse’s fear that one of you dying well before retirement age will be detrimental to the family’s financial stability. By having the prenup conversation before saying “I do,” you have the opportunity to get your financial plans in sync for today and decades down the road."
The full article is here.
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