Unfortunately, in a society that has become completely obsessed with money and the accumulation of our little hoards of wealth, it has become normal for people to feel apprehensive about marriage because there is a possibility it could impact their personal stashes of money.
Key Points
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A prenup agreement is one of the most-recommended ways to protect your assets from a potential divorce. Many people avoid this issue by simply not getting married.
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A lawyer can help draft up a prenup for you, and a therapist can help you understand that a prenup won’t fix your emotional issues and obsession with money that will inevitably drive your relationship to divorce anyway.
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One single person was worried about losing all their money in a potential future marriage, so they took their concerns to the people in the r/Fire subreddit. This is a group of people obsessed with financial independence and retiring early, so the author of the post thought they would have good advice about preserving wealth.
The Original Post
Photo of a divorce settlement.
The author of the original post says they are single and were “just randomly” thinking about finances during marriage. They say they are trying to reach “financial independence” and that it sounds like a nightmare to get divorced.
Therefore, they ask what others have done to protect their money before, during, and after a divorce so they “don’t have to give it up to their ex”.
Please remember that everything in the original thread and in this article is opinion and not legal or financial advice.
The Community Response
An image of a divorce.
There were two primary categories that the vast majority of responses and recommendations fell into: get a prenup or don’t get married, each with varying levels of specific advice and relevant details or suggestions.
Those who recommended a prenuptial agreement argued that it is the only water-tight solution to any financial question. While having a good relationship, good communication, separate finances, and a plan can all help in the event of a divorce, they aren’t legally binding. Commenters recommended hiring different lawyers for each party in the marriage. What should be included in the agreement and how it should be drawn up varied from person to person, so a legal advisor would be the one who could best create one for your situation.
They admitted that it is very unromantic and can scare some potential spouses away, however.
On the other hand, a similarly popular recommendation was to simply not get married. Couples who are in love can do all the same things that married couples do when it comes to finances, but they won’t have a claim on each other’s assets if they get divorced if they have been maintained separately and not opened in each other’s names.
Finally, it is common knowledge that entering into a marriage, or other long-term relationship, worried about the worst possible outcome actually makes that event more likely to happen. Worrying about how your spouse might take all your money in a divorce is a terrible way to start a marriage, and actually reveals to your spouse and everyone around you what your priorities really are.
The post How I Plan to Safeguard My Assets Against Divorce – Tips for Financial Independence appeared first on 24/7 Wall St..
