Whether you are
married already or contemplating marriage, you will want to
explore this. Today, about 50 percent of marriages are expected
to dissolve, half of all children can expect to live some time
with a single parent, and 33 percent of all births are to
unmarried women. Marriage as a permanent arrangement is no
longer widely presumed, nor is it the only culturally accepted
arrangement in which to raise children. The public consequences
of this shift go far beyond societal upheaval. Nearly 40 percent
of single-parent families live below the poverty line, and the
economic resources devoted to improving their situation are
substantial.
It's quite a
dismal outlook isn't it. People getting married today need to
take a better look at what the future holds for you. For the
higher income spouse, a divorce holds the prospect of a
financial suicide, having your children taken from you, and
extreme emotional upheaval. There is very little hope of closure
from this unfortunate event. Getting on with your life or even
trying to establish another family can be a daunting, troubling
experience. Once the courts get you into their clutches, the
retain their hold for the rest of your life.
An Ounce
Of Prevention Is Worth A Pound Of Cure
You've heard this
saying many times before and here is no exception. When getting
married, you are entering a contract unlike any other contract.
However, this is one of the most important contracts into which
you will ever enter that will greatly affect your future
happiness. It is not much different than a business contract
only the courts have looked on it a bit different than if it was
a business contract.
If you think that
your marriage and any subsequent divorce is a matter that is
covered by your "right to privacy" in marriage decisions, which
are constitutionally guaranteed, think again. When you entered
into a marriage contract, you most likely assumed that only you and your wife
were the parties to the contract, well,
read this article.
If you are
contemplating marriage, there are some things you can do to
prevent financial suicide. And alimony is guaranteed financial
suicide. Forewarned is forearmed. As is good practice in
business contract, you should not only agree what each of you
will do in the business, but you should also prepare for the
eventuality of a breakup. Planning for a breakup involves
consideration of the elements involved and how both of you will
treat them. Doing this before marriage is one of the biggest
things you can do to prevent a disaster aside from planning for the big wedding day.
This is where a
prenuptial agreement comes in. Or, if you are already married,
you can consider a postnuptial agreement both of which will save
you tons of attorney's fees in the event of a divorce. To find
out more on the subject, read through the following:
-
Prenuptial and
Postnuptial Agreements and Contract Law in the USA
-
Uniform Premarital Agreement Act (UPAA)
[1995, c. 694, Pt. B, §2 (new);
Pt. E, §2 (aff).] A regulation that allows the parties of a
premarital contract to choose the state's jurisdiction under
which their contract will fall. A couple can choose any
state in which one of the parties lives or plans to live or
the state in which the couple will be married. Because this
act has not been passed in all states, parties to a
prenuptial contract are also limited to choosing only the
states that have passed the Uniform Premarital Agreement
Act.
-
States Who Have Adopted the UPAA :
The UPAA was
approved by the National Conference on Uniform State Laws in
1983, and has been adopted in whole or in part by
approximately half the states including New Jersey (in
1988), but not neighboring New York and Pennsylvania.
You will also
want to read up on what can possibly happen after you are
married and encounter divorce proceedings where you will have to
pay alimony. Unless you know someone who has experienced it,
nothing you can imagine will prepare you for this traumatic
experience.
Good books on the
subject can be found on our site
here
and here.
