We all know that bad breakups can be financially ruinous. Today, legal protections are vitally important, in order to preserve and protect both partners’ security. The 3 basic types of legal agreements are Prenuptial, Postnuptial, and Cohabitation agreements.
I have taken to calling all of these documents “Love Contracts” because they can and should deal with far more than simply “who gets what in the event of a breakup”. The Love Contract can deal with pet peeves, financial disagreements within an intact relationship, lifestyle issues and joint goals. Ideally, this document can serve as a mission statement for a couple. When we put something in writing, we are far more likely to remember it. Moreover, when we have two people focus on achieving a given goal, it is more readily attained than someone trying on their own. This principle has been employed for decades by corporate leaders when creating and deploying teams to work toward company targets.
Love Contracts can successfully deal with weight and fitness issues, philanthropy, intimacy issues, travel, education, social lives, cross dressing, infidelity penalties, as well as financial goals.
This area of “relationship law” is, in my opinion, the next step in personal finance. A properly drafted Love Contract can prevent us from losing one-half of our assets in a breakup. Is this not at least as important as whether my investment rate of return is 4, 5 or 6%??? Within an intact relationship, the Love Contract provides an animus free framework to tackle some common roadblocks preventing couples from achieving financial security.
To learn more about how a Love Contract can strengthen your relationship while increasing your financial security, call us for a consultation. You may also wish to order my book, Love & Money from Amazon. 100% of the purchase price is credited toward future legal work.