Wedding planning elicits images of white dresses, cake, tuxedoes, flowers and the like. However, on the heels of a romantic wedding comes the more mundane world of financial planning. Before marriage, some couples may be aware of their future spouse’s financial circumstances, but other couples may not deem it appropriate to discuss such matters. For at least some couples, the topic of prenuptial agreements may be unlikely to dominate any pre-wedding discussion.
How a prenuptial agreement is viewed differs from person to person. In this respect, Michigan residents may find a recent survey conducted by Spectrem’s Millionaire Corner on how men and women view prenuptial agreements interesting. The survey found that women are becoming more informed about finances and aware of the potential risk marriage may pose to their financial security. In fact, the survey found that women are more likely to bring up the topic of a prenuptial agreement before their wedding day.
Further, the survey found that more women than men considered a prenuptial agreement advantageous for protecting assets obtained prior to marriage and helpful in protecting any children from a previous marriage. Men on the other hand believe that a prenuptial agreement eliminates the reason to marry for financial gain, and makes any potential divorce proceeding easier to manage. More women indicated that the topic of a prenuptial agreement opens up a frank discussion about finances, while men believe that it introduces negative and potentially divisive emotions between the new couple.
Based on this survey, perceptions regarding prenuptial agreements clearly vary between men and women. However, when it comes to drafting a prenuptial agreement, it is important for both parties to have legal representation to ensure that the prenuptial is fair and equitable for both sides and to ensure that one side is not short-changed and the agreement is entered into without coercion.
It may be helpful for couples interested in understanding the nuances and implications of a prenuptial agreement to consult with an experienced family law attorney to make an informed decision together.
Source: Millionaire Corner, “How do men vs women view prenuptial agreements?” Adriana Reyneri, May 13, 2013
