Few things can wreck a romantic mood quite like talking about finances, but for soon-to-be married couples, the benefits could be phenomenal. Nearly half of first marriages in Oregon and across the rest of the United States ultimately head towards divorce. For those who had the foresight to discuss finances and create prenuptial agreements, the process could be much easier.
Financial stress and other money issues are one of the most common stressors for relationships and a leading factor in many divorces. A researcher who co-authored a study explained that money arguments are one of the biggest predictors of divorce filings. Those who avoid discussing any type of money matters before tying the knot can encounter more arguments regarding finances during their marriages than those who do.
This might be especially true for couples who are in the first half of their 20s or who are on their second or third marriage. Both of these groups have relatively high chances of filing for divorce when compared with other age groups or those who are still on their first union. By acknowledging this risk, couples can take the opportunity to discuss financial matters — including assets and debts — before marriage.
Prenuptial agreements provide a valuable opportunity for Oregon couples to engage in valuable discussions regarding their personal finances. Even if both parties have different financial statuses and situations, they can still benefit from a carefully worded agreement. By protecting certain assets or keeping certain debts as personal property, most couples can use prenups to make the divorce process that much simpler.
Source: benzinga.com, “Debt And Divorce: Why Talking Before Tying The Knot Is So Important“, Rebecca Sheppard, Oct. 2, 2016
