Tidbits #4 – Is It Unholy To Ask For a Prenup?

If the thought of talking money before saying “I do” makes you feel squeamish, you are not alone.  I personally know one couple who got a prenuptial agreement before exchanging their vows (still married, I’m happy to report) and another who implemented an agreement mid-stream after 2 kids (guess that wouldn’t officially qualify as a pre-nup). 

According to the 2010 Honeymoon Study conducted by The Knot only about 3% of people with a spouse or fiancé have a prenuptial agreement.  But with divorce rates hovering around 50% and more and more folks entering 2nd or 3rd marriages with offspring from previous relationships, having such uncomfortable discussion can save lots of stress and legal bills later in life according to some matrimonial and family attorneys.  The best line I got from a financial planner in justifying the process – “it’s just checking the box on a business transaction that also holds the promise of a future of love and devotion.” 

I see the arguments on both sides.  Ultimately, it’s a completely personal decision.  By the time this gets published, my wife and I will have had our 10 year anniversary – the best 10 years of my life…  In case you were wondering – no we do not have a pre-nup, no lawyer would draft an agreement to equitably split up $1.50 in my checking account and a ’95 Mustang with 100K miles in case of a split.  Besides, as Jenna loves to say, “what’s yours is mine, and what’s mine is mine.”  Could not agree more honey… 🙂

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About Richard Lee
Experienced finance and operations professional. Currently partner in five companies, adjunct professor of economics at Columbia College and executive contributor to a small business blog (www.SMBmatters.com); following corporate finance, M&A and management consulting tenures with Orbitz and Diamond Technology Partners; and six years of service with the United States Army.

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