Money and Marriage: What to Talk About Before You Tie the Knot
Private Wealth Services attorney Mark Haranzo was cited in a Bankrate article that focuses on prenuptial agreements and the financial dynamics within a marriage. He argued that prenuptial agreements, which must be fair, play a critical role in safeguarding the couple's interests in the event of divorce or death, rather than favoring one partner over the other. Mr. Haranzo also highlighted the inherent financial partnership within a marriage, pointing out the numerous benefits arising from this union, including a potentially higher standard of living and enhanced financial stability. Through his insights, Mr. Haranzo emphasized the importance of transparent financial discussions and planning before entering marriage, which helps mitigate the challenges related to financial disagreements and advocate for a cohesive financial strategy between partners.
"I firmly believe that proper prenuptial agreements are beneficial to the couple rather than detrimental to one of the partners," he said.
"One of the primary requirements of a prenuptial agreement in almost all jurisdictions is that they have to be fair," he added. "The core financial benefits of marriage arise due to the fact that a married couple is not only a romantic partnership but a financial one."