Same-sex couples and prenuptial agreements
Couples choosing to get married have a lot of decisions to make. While decisions like where to have the wedding and what items to register for seem important, another more important and often overlooked priority should be a prenuptial agreement.
While couples in their 20s and 30s may not have enough wealth to warrant drawing up a prenup, many same-sex couples who are older and have more financial assets and wealth would be wise to consider a prenuptial agreement. With the passing of legislation allowing same-sex couples to marry in several states, couples who have been together for years are excited they are able to finally share the same civil rights as their heterosexual friends.
Many, however, also have a considerable amount of wealth ranging from property investments to retirement accounts or stock investments. While conversations related to drawing up a prenuptial agreement can be awkward, same-sex couples should approach the topic with a view towards the future and ensuring each party is protected.
While when in love and contemplating marriage, a break-up is the last thing anyone wants to think about, the sad reality is that relationships and marriages end. In fact, roughly 50 percent end in divorce and it’s better to be prepared and protected than deal with the potential fallout and conflict that may otherwise result.
Same-sex couples dealing with divorce or seeking advice on how to proceed with a prenuptial agreement should contact a California family law professional experienced with helping couples sort out complex financial matters.
Source: The New York Times, “If ‘Forever’ Doesn’t Work Out: The Same-Sex Prenup,” Louise Rafkin, Mar. 23, 2012