Did you know 50% of U.S. adults support getting a prenup? In reality, only a fraction of those actually get a prenup. But what happens if you get divorced without having entered into a prenup before marriage? The thought of a marriage without a prenup is scarier than a haunted house, a haunted hayride, a ghoulish costume, or any of the season’s other spooky elements.
Getting married without a prenup is putting yourself in a position in where your assets and financial future are dictated by state law instead of your own choices. Let’s discuss in depth what happens when you get a divorce without a prenup.
Why skipping a prenup can lead to a painful divorce
The reality of the matter is that divorce is a possibility. We do not live in a rom-com world where everyone is guaranteed to live happily ever after. And not getting a prenup can lead you down an ugly path. Here’s how skipping a prenup can lead to a painful divorce:
- Messy Outcomes: Without a prenup, divorce can become a battleground. There is the potential for lengthy disputes, misunderstandings about what’s “fair,” and emotionally-charged decisions.
- Costly Conflict: Prolonged disputes mean your lawyers charge more for their time, while you and your ex could both end up losing financially. For example, the average cost of a divorce is $11,300. There is a potential to cut that down if you had a prenup.
- Stress and Emotions: Let’s face it: getting a divorce is stressful, no matter how amicable you are. Without a prenup, there is less certainty and predictability in the divorce outcome.
- Protect Your Future Self: No one plans to divorce, but it happens. A prenup is like having an emergency plan for your relationship, made when you can still think rationally.
Takeaway: A prenup isn’t about pessimism; it’s about being prepared and protecting yourself in the event things change.
Prenups quiet the “what-if” worries
Even the most optimistic couples know divorce happens. That nagging “what if?” doubt is normal, especially with how common divorce is.
How a Prenup Provides Peace of Mind:
- Creating Certainty: It’s a contingency plan. Knowing what would happen in a divorce reduces uncertainty and provides a sense of control.
- Less Stress During Divorce: Without a prenup, divorce proceedings are unpredictable and can drag on. A prenup provides clearer expectations, reducing that anxiety. For instance, a prenup creates a roadmap for your assets in the event of a divorce instead of leaving it up to a judge and state law.
- It’s like Insurance: You’d never turn down car insurance because “it means you’re going to get into an accident” right? Right! Same thing goes for a prenup. Getting a prenup doesn’t mean your relationship is going to go south. Ultimate peace of mind!
Unexpected debt risk: Your ex’s spending could become your problem
In some states, you might be held responsible for debts your ex-partner racked up, even if you weren’t aware of them or had anything to do with them. For example, if your partner irresponsibly took out business debt during the marriage, in community property states, you are generally on the hook 50/50 for that debt, even if you never knew it existed.
Why this Matters: Without a prenup, getting a divorce can lead to taking ownership of debt that isn’t yours. And there’s nothing quite as bitter as taking on the financial obligations of an ex-spouse when you’re no longer together.
The Prenup Solution: A carefully crafted prenup can address debt issues upfront. This offers protection by clarifying what you will and won’t be responsible for in a divorce.
Losing your home without a prenup: It could happen
Imagine pouring your heart (and money) into your dream home with your soulmate. White picket fence, wrap around porch, and all of the little details that you love… only to have a divorce court force you to leave it behind. This is possible without a prenup.
Real-life example: Kelsea Ballerini, country music star, had this exact situation happen to her. She revealed on the Call Her Daddy podcast that a conflicting provision in her prenup led her to have to surrender half the value of her home, which she bought in full.
Prenups Protect Your Investment:
- A Clear Prenup Can Protect Your Home: If you have a beloved home that you want to ensure stays in your ownership, a well-crafted prenup can ensure it stays that way, in any scenario.
- Prenups Can Protect Future Houses, Too: Even if you buy a house later, you can add terms to your prenup specifying how future assets will be handled if you split up.
Without a prenup, you could be left in financial hardship
If you are financially dependent on your spouse now, or ever become financially dependent on them in the future, you could be left in financial hardship without a prenup. And before you are quick to say “that would never be me,” think about these possible scenarios:
Potential Scenarios:
- Career Pause = Less Income: If you ever step back from work to raise a family, you may lack independent earning power making divorce negotiations harder. This happens more often than you may think. In fact, nearly 50% of working moms end up taking a career pause.
- Future Disability: Of course, no one ever expects this or plans for it, but if for some reason you ever become unable to work and get a divorce, it’s unclear whether or not you’d be entitled to enough assets to support yourself.
- Insufficient Support: Even if you do get a divorce and do receive court-ordered alimony or child support, it might not get enough to survive.
The Prenup Solution: A prenup allows YOU to decide on fair financial provisions in advance instead of leaving it up to chance, state law, and a judge’s discretion. Prenups eliminate uncertainty and ensure a more level playing field if you ever do divorce.
Your inheritance may not be safe
POV: You inherit $100,000 from Uncle Bob after he passed, assuming it’s yours forever. However, you get a divorce, and a judge decides that a portion of that $100,000 should go to your ex-spouse. Ouch…
Busting Myths: There’s a really bad misconception that inheritances are automatically protected in a divorce and that’s not always true. It depends on your state laws and your unique situation. Why risk it?
The Solution: A prenup clearly designates ANY future inheritance as “separate property,” ensuring they stay yours.
Don’t let a divorce dictate your future – Get a prenup!
Here is what we want you to takeaway, if nothing else, from this article:
- Prenups are NOT about expecting a divorce, but about smart planning for any outcome.
- Without a prenup, you lose control. Divorce laws can lead to uncertain, unfair results.
- Prenups protect your finances: They address debt, assets (including homes), inheritance, and potential income disparities.
- Prenups provide peace of mind: They answer the “what-if” questions, giving you greater security.
Don’t leave your financial future to chance. Cocreate your prenup and protect your ass(ets) today with a prenup!
Nicole Sheehey is the Head of Legal Content at HelloPrenup, and an Illinois licensed attorney. She has a wealth of knowledge and experience when it comes to prenuptial agreements. Nicole has Juris Doctor from John Marshall Law School. She has a deep understanding of the legal and financial implications of prenuptial agreements, and enjoys writing and collaborating with other attorneys on the nuances of the law. Nicole is passionate about helping couples locate the information they need when it comes to prenuptial agreements. You can reach Nicole here: [email protected]
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