In the frenzy of wedding preparations, it is easy to overlook a crucial item on the to-do list: consulting a lawyer who specializes in marriage agreements.
Stephen Glanzberg, a lawyer at Clark Woods LLP, said he is seeing more young people inquiring about co-habitation and marriage agreements. These agreements, he added, provide security and peace of mind to spouses, in addition to protecting their actual assets.
“It’s the mature thing to do,” Glanzberg said. “It’s a relatively small amount of money and energy to protect a whole lot more down the road.”
Couples often have difficulty discussing marriage agreements when wedding bells are ringing.
“It’s an awkward conversation to have,” Glanzberg said. “It’s not a sexy thing to discuss and turns some spouses off. For some, it can even be a deal breaker.”
With that said, talking about it often forces couples to be transparent with their finances and aspirations, which can make for a stronger marriage, he added.
“It can lead to a more financially transparent and honest relationship,” Glanzberg said.
Despite the benefits, he noted many couples still do not have marriage agreements. If a divorce or separation occurs, couples without an agreement in place could have a much more difficult time dividing assets and negotiating spousal support, he added.
Do you need a marriage or co-habitation agreement? Consult with a Clark Woods LLP lawyer today.