Monday, December 7, 2009

Pre-Nups - Their Limits

But Wisconsin agreements avoid clauses on cheating, pets from The Wisconsin Bar Journal hits on a point that I agree with:
Ballman does not see prenups “that cover things like pets or chores. But I do find that they are getting more specific on matters such as long-term health insurance and health-care decisions for when the parties are older, and contributing to certain funds, etc. People are planning for getting old more than they ever used to.”

One good reason to forgo provisions outlining who will bear the responsibility for trivial matters like taking out the trash — judges don’t want to see them.n puts it in a separate agreement that’s not meant to see the inside of a courtroom.
Yes, there are limits to the patience of judges.  I do not think that I want to argue over a prenuptial agreement's trash removal provisions in front of a judge who has to be thinking that he is dealing with this instead of one of his criminal cases.

I also found this statistic to be true of my practice:
Despite the well-known statistic of 50 percent of marriages ending in divorce, national estimates suggest that just 5 to 10 percent of engaged couples seek prenuptial agreements — although that’s hard to quantify, given that these documents aren’t filed publicly, except for parties litigating their divorces. So wrote Heather Mahar in her 2003 article, “Why Are There So Few Prenuptial Agreements?” published by Harvard’s John M. Olin Center for Law, Economics and Business.

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