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Prenuptial Agreements: An honest discussion

"The best is yet to come," sings Frank Sinatra. And no truer sentiment surrounded a marriage: the anticipation, hope and excitement surrounding a newly wedded couple is palpable. Everyone plans for the best. But is there any harm in planning for the worst?

You don't walk down the aisle thinking about the day that you'll say, "I don't." But the fact is that approximately half of all marriages end in divorce and Kentucky, in particular, leads with one of the highest divorce rates in the country. Does it make sense to plan your property division before you have even planned your wedding?

Why is a pre-nup important?

The answer is a resounding, "Yes!" In fact, creating a template for property division later on can help you discuss a budget now--your values, how you spend, and what you buy can all have an impact on your marriage. By discussing them now, you can navigate choices for the future: She gets so much of her money to spend on horses, he can spend $500 a year on hunting equipment without his spouse's permission.

A good lesson in finances

Money is often a big reason for divorce. How you spend it, where you spend it, how you save or don't--all are very emotionally wired decisions. Spending and saving habits are generally second generation: Meaning you get your values around money from your family.

Sitting down to discuss what you have and how it will be divided is a prudent and sound investment. Prenuptial agreements can be so detailed they can virtually eliminate property battles, making divorce--if it happens--less costly and more efficient.

One final word: Pre-nuptial agreements are only about money. Custody arrangements cannot be decided unless and until there is a divorce. But with financial matters already laid out, the cost of divorce is greatly reduced.

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