Making Money What’s the cost of not planning for the worst as a couple?
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Jun 23, 2025 Ursula Danagher, a seasoned family lawyer with over 30 years of experience in divorce and prenuptial law, shares invaluable insights on financial planning for couples. She argues that getting a prenup isn't just for the wealthy; it's smart for everyone. Ursula discusses the necessity of open financial conversations in relationships and the importance of prenuptial agreements to protect individual assets. She highlights the often-overlooked contributions of partners and stresses that transparency can prevent conflicts down the line.
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Plan Divorce Financially Early
- Have financial conversations and plan for divorce early in the relationship.
- Prenups are essential not just for the wealthy but for people living normal lives to avoid stress and cost later.
Prenups Face Emotional Resistance
- Many people avoid prenups due to discomfort discussing potential relationship failure.
- Young people tend to focus on living for today, overlooking future financial planning.
Protect Parental Contributions
- When parents contribute money to property, it's crucial to ring fence their investment with prenups.
- Without planning, shared assets may be split 50-50 regardless of initial parental contributions.