This article is the second of two parts. (Click here for Part 1)Jack, a twice-divorced entrepreneur, describes divorce in martial terms: “You
and your spouse each hire a gladiator, and it’s literally like being in the
Coloseum in Rome, and your gladiator is trying to kill the other gladiator.”* To
avoid such battles, Jack, who is remarried, drafted a prenuptial agreement with
his new wife to ensure they clearly understood all financial obligations and
roles before they recited their marriage vows. And in the process, he says they
gained a deeper understanding of each other’s goals and values.
Some couples
feel that the most difficult element of a prenuptial agreement is broaching the
subject with their intended (the subject of last month’s article; see “From
Deadlock to Wedlock,” March 2004), but the initial discussion is often
only the first hurdle. Depending on the complexity of the agreement, two to four
months may be required to draft the document, and the process can be just as
trying as the relationship itself.
Jack, the wealthier of the two, regards
the process as a trial run for the marriage. “If you have trouble communicating
about prenups, you’ll probably have trouble all the way through the marriage,”
he notes. “Prenups are a great early warning indicator for how you’ll deal with
issues.” His views carry the benefit of experience: He did not have a prenup
with his first wife, but did have one in his second marriage, as he does in his
current one.
Brent, an entrepreneur who recently remarried, admits his
experience negotiating the prenup was not always smooth sailing. Although he
says he and his fiancée enjoyed a “total compatibility that made it easy to put
our lives together,” they found the process of drafting the contract painful at
times because of disagreements over details, such as the duration of the
contract.
Both men believe their relationships are stronger now because they
reached accord over the financial aspects of their marriages before they tied
the knot. And both remain proponents of the prenup as a prerequisite to
matrimony—no matter how complex the parley. “Personally, I wouldn’t leave home
without it,” quips Jack.
|