Bethenny Frankel, the former Real Housewives of New York star, recently told the world about the horrific divorce she endured for eight years and was in court fighting about child support for years after that. Like many happy couples, Frankel entered into the marriage with hearts in her eyes, believing that marriage would last forever, or if it didn’t, that her new spouse wouldn’t fight with the ferocity he has.
Frankel (worth $70 million) and Jason Hoppy were married in 2010 and spit only two years later, but were in court fighting about finances and child support since 2012 until the divorce and child custody agreement were finalized in late 2021. So why no prenuptial agreement? Bethenny said that when a prenup was brought up, it was an embarrassing and awkward conversation that she didn’t want to have.
“If I had known that getting into marriage is the same thing as getting into business together with a business partner, my eyes would have been more open. So for those of you listening…” – Bethenny Frankel on her podcast Just B
On her podcast, Bethenny explained she went public with the story of her divorce to help other women understand the importance of protecting themselves with a prenuptial agreement, and how it would have protected her in her divorce – and saved her millions of dollars in legal fees, minimized the stress she went through and gained her precious time with her daughter.
This happens to many of us, we get caught up in the love and romance of the engagement, and we don’t want to believe that it may end badly. We enter a marriage with love and forget it’s a legal contract.
Do You Need a Prenup?
Prenuptial agreements are not just for the rich. Couples of all financial brackets are increasingly acquiring a prenup before their marriage. There are several reasons why you may want to a prenup:
- Couples with Prior Marriages and Children: After a nasty divorce, couples who have been previously married understand that a prenup may be necessary. Especially if there are children before the new marriage – the parent wants to specify what assets and property will be passed to the child when they die.
- Clarify Financial Rights: A prenup can establish each partner’s financial rights and responsibilities before entering the marriage. It can specify what each person brings to the partnership and what they will leave with when it is over.
- Protection From Existing Debt: Debt is typical, but sometimes one partner has much more expenses than the other. A prenup can protect the new spouse from huge debt if the marriage doesn’t work.
- Divorce Is Quicker and Less Expensive: The prenuptial agreement pre-defines the terms of a divorce, allowing the process to go faster and cost much less.
Marriage is a way for a couple to celebrate their love for one another, but it is also a contract between two people that comes with certain property rights for each spouse. If the marriage (the contract) ends, the state may decide the disbursement of assets made before and during their time together. This is why a prenuptial is needed, no matter the income range.
Talk To A New Jersey Prenuptial Agreement Attorney
If you’re planning to marry or even move in together with your partner, having the conversation about finances and signing a prenuptial agreement may be awkward and uncomfortable, but as Bethenny Frankel now knows, it is definitely worth it.
If you need a prenup, working with an experienced New Jersey, Family Law Attorney will help you define the financial expectation of your marriage. Contact Us today to begin the prenuptial process.