Congratulations, you just got engaged. You and your fiancée are on cloud nine, Nothing could be better. Now you have garner the strength to utter the most unromantic of words -pre-nuptial agreement. How do you do it?
Given the high divorce rate, a pre nuptial agreement offers a hedge against the unfortunate, but possible prospect of divorce. The agreement forces you and your soon-to-be spouse to discuss ending in the marriage even before it has begun.
So, how do you discuss divorce when you also planning your marriage?
1. Request a pre-nup soon after the engagement.
Do not wait until the invitations are in the mail to request a pre-nup. Ideally, a pre-nuptial agreement should be signed and negotiated well in advance of the wedding. Springing the pre-up on your fiancée on the eve of the wedding will leave him/her feeling as if they've been ambushed-not a great way to start a life together.
2. Explain why you want a pre-nup.
Be transparent and honest. You want a pre-nuptial agreement for a reason-why? Are you looking to protect an inheritance? Do you have children from a previous relationship or are you simply looking to protect assets? Do you have a family history of messy divorces?
3. Be transparent
For a pre-nuptial agreement to be valid, there must be full disclosure. Be prepared to honestly share your net worth and income. You are incentivized to reveal all your assets- any assets you own prior to marriage will usually remain your separate property if a divorce occurs; if your fiancée acknowledges something is separate property when you sign a pre-nup, he/she cannot later claim it is marital later when you divorce.
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