It’s wedding season and as thousands of happy couples prepare to take vows, just a fraction will spend time contemplating the end of their relationships. Let’s face it: signing a pre-nuptial agreement (“prenup”) is the most unromantic engagement or wedding gift ever. A prenup is a contract that outlines how a couple would split their financial lives in the event that the relationship does not work out. While most of us may think of a pre-nup as something for the very rich, after hearing about disastrous divorces and the financial horror stories associated with them, it’s clear that many more couples might benefit from the process that forces them to outline what they bring into the marriage, how they might split up assets accumulated during the marriage (marital property), including a home, and how the couple intends to manage family gifts or an inheritance.
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