Picture your fairytale life with the bride or groom of your dreams, money in the bank, and your health and strength. At this point you wonder, ‘What could go wrong?” Well, anything and everything can happen. How many times have you heard the horror stories associated with marriages and finances? A rich person and a not so rich person get married without signing a prenuptial agreement, all hell breaks loose, and someone is left holding an empty bag! People please don’t just think you have to get a prenuptial agreement if you are rich! You can get married and not be rich, become rich during the course of the marriage (with or without your partners input) and be left in a hole if the relationships ends! You may even have to split your earnings.
Now, what if your spouse incurs large amounts of debt? The answer is yes, you will have to share that too! This can include any type of bills, bills made by children or step children, bankruptcy, and the list can go on! Marriage is a life long commitment whether it last or not and can be a death sentence. Some critics argue that the prenuptial agreement paints a dismal picture of the trust you have in your relationship. Married or unmarried, I think they have no idea how ugly things can get.
It is best to strategize your contingency plan in the beginning while everything is in a honeymoon type phase. Discuss the unthinkable and undesirable possibilities. It is better to know what is on each others mind before you commit! You may just discover that this person is not for you after all! If you get all of the good, bad, and ugly details ironed out and you are still in love, more power to you!