Getting Married? Forget Sweet Nothings; Let’s Talk About Money
If there is one statistic that does not lose its ability to scare, it’s how many marriages end in divorce. “About half” is thrown about often, if a bit loosely.
Research has added nuance to that figure. Factors like age, education and socioeconomic status contribute to reducing the likelihood of divorce. So, too, does the number of marriages: First marriages are less likely to end in divorce than third marriages. Still, the numbers do not fill a young (or old) heart with joy.
The response for many wealthy people is the prenuptial agreement, which details what each spouse is entitled to financially if the marriage ends in divorce.
Whether a person’s betrothed or own family raises this issue, the ensuing conversation is likely to be about as romantic as deciding who takes out the trash. Any discussion, after all, will focus on the parameters for who gets what at the end of a marriage that has not even started. Read more