Randy Perskin: Discussing Divorce

A prenuptial agreement can be a practical solution to extensive property dispute during a divorce. Clearly, discussions regarding property distribution in the event of a divorce can be uncomfortable in any case but especially during wedding preparations. Nevertheless, a couple who can reach an agreement which protects the respective rights of each spouse can avoid much unnecessary stress later.

A prenuptial agreement is a contract entered into between a couple about to get married. The agreement can address specific issues relating to property division. A prenup is an effective tool for setting forth the rules of property division in the event of a divorce. Additionally, the agreement can limit the responsibility of the spouses for eachother’s debts. Essentially, the contract can set forth who gets what should the marriage fail and who will take responsibility for marital debt. The contract can be used to protect the rights of inheritance of children from a prior marriage. Spouses can give up their rights to inherit certain property, perhaps in exchange for other benefits. Estate planning which reflects a spouse’s true intentions pursuant to the prenup is recommended. A will can not supercede the provisions of a prenuptial agreement. In other words, testamentary provisions can provide more generous, but not less, benefits to a spouse than the agreement allows. A couple can agree to have certain property, such as family heirlooms, revert to their birth families in the event of death. Other issues such as the filing of joint and separate tax returns, the payment of household bills, setting up and maintaining joint accounts, agreements relating to specific purchases or projects, such as buying a home or starting a business, savings, payment of college or graduate school tuition for your spouse, providing for a surviving spouse through an insurance policy or will, and agreements as to dispute resolution, such as hiring a mediator or private arbitrator, can also be set forth in a prenuptial agreement. (more…)

The issues leading to a divorce often occur long before a split is even considered. In many instances, there are clear signs that a couple is incompatible and will have trouble living together before a marriage even occurs. Most people are not thinking about the eventuality of a divorce while they are planning a wedding. Nevertheless, a careful examination of yourself, your partner and your relationship prior to the actual wedding can save you from a lot of unnecessary stress during the marriage and, possibly, avert the necessity of a divorce.

Prior to entering into a relationship, it is important to examine your individual needs, wants and values. Chances are you will have a difficult time building a solid relationship with your partner if you are unclear about your own priorities. Assessing your values, determining what is important to you as an individual and realizing where you can compromise will help you develop as a person and better understand what you need in a relationship. Some important issues to consider are religious beliefs, relationship to money, work ethic, living situation, or where you feel comfortable residing, family ties, friendships and desire to have children. (more…)