Financial issues always arise when a couple decides to marry. They are even more complicated when couples marry later in life. Each may have children, there may be two homes, several pension plans, and budgets to be reconciled. One or both may have been through a traditional adversarial divorce and want to make sure that does not happen again.
Pre-nuptial agreements are advance planning techniques that clarify what happens to the parties’ resources when the marriage terminates whether by death or divorce. They may also cover how the couple will manage their finances while married.
Using the Collaborative Process to negotiate pre-nuptial agreements
In the past pre-nuptial agreements have usually been the product of lawyer negotiations designed to protect the moneyed spouse-to-be’s assets from the non-moneyed spouse-to-be. How romantic is that! Using the Collaborative Practice process to build the pre-nuptial agreement together is the perfect way.
Clients and attorneys work together face-to-face, often with a financial neutral (a financial planner trained in the Collaborative Process), to build the pre-nuptial agreement. This helps to dispel the doubts and distrust that often lurk in the background during traditional adversarial negotiations. Depending on the needs and interests of the couple, many different scenarios can be addressed in Collaborative negotiations in advance of the marriage.
Already married? It may be possible to do a post-nuptial agreement to address those same issues, for instance, to reassure each other that their respective children’s concerns are being met.
For more information
For the local attorneys and financial advisors who are trained in this process, visit the local Collaborative Practice group’s website fredericksburgcollaborative.com
To make an appointment to discuss your situation, give me a call at (540) 775-9710 or send me an email.
CONTACT OUR OFFICE
9362 Kings Highway
P.O. Box 469
King George, VA 22485
Phone (540) 775-9710
Fax (540) 775-4907