Pennsylvania Law and Prenuptial Agreements
In Pennsylvania, legal thinking is that everyone should have a prenuptial agreement. In the keystone state, you can even create a prenuptial agreement AFTER you’ve already married. (Call me if you want to understand how.)
Viewed with a long term perspective, a prenuptial agreement is considered part of estate planning. While some newlyweds might find it distasteful to think about divorce on the eve of marriage, it varies from a traditional estate plan only in that it allows for the possibility of divorce as well as death.
Some marriages will end in divorce (though fewer now than 20 years ago). Every single marriage will end in death. A gentler reminder of this is the traditional pledge “Until death do us part.” We will love unto death. This better captures the romantic notion of marriage as an act of will and emotion.
There is no mistaking, though, that marriage is also an act of law. With the recent Supreme Court Ruling allowing same sex marriage nationally, the number of couples eligible for this legal status has jumped considerably. With any potential wedding planning should come a moment to discuss: Do we need a prenuptial agreement?
Prenuptial contracts are about division of assets. If there are no assets and no children, you do not need a contract. You still need a Will and Living Will.
Many couples marry later, or are embarking on second marriages. Anytime there is a joining of assets or a blending of families with children, it’s a good idea to think about the future to protect yourselves and your kids. Many parents wouldn’t think of embarking on a long, international trip without a Will in place expressing their wishes should they perish. Yet some find it difficult to contemplate a division of assets and custody should their current union likewise meet an untimely death.
If either or both spouses own their own business, it is also imperative to spell out in advance their desired path of succession should they die or become incapacitated.
Can prenuptial agreements actually create distrust or fear? This is a key argument opponents of prenuptial contracts use. Yet, many churches now require engaged couples to take pre-nuptial workshops in which the couples are asked to discuss their views of finance, budgeting, childraising, etc. A prenuptial agreement, discussed in an atmosphere of love and trust, can help solidify a couple’s chance of long term marriage. It may not be romantic, but it sure hits at the heart of the day to day life of marriage.
As with all negotiations, the result is only as good as the discussion and thought that went into it. Make your prenuptial discussions an act of love and trust, and you will emerge with a document that will stand up in court. Better yet, it can be a legal expression of your personality as a newly formed couple working together for each other’s interests.