210. Financial Clarity Before Divorce: Rethinking Prenups, Postnups and Separation Agreements

Financial agreements are often viewed as a way for one person to protect their assets from the other. But a prenup, postnup or separation agreement can begin with a more constructive question: What are we trying to accomplish financially? In this episode of the We Chat Divorce Podcast’s Divorce Explored series, Karen Chellew and Catherine Shanahan challenge the traditional mindset surrounding financial agreements. Rather than focusing only on what happens if a marriage ends, couples can use these conversations to decide what they want to build together, what should remain separate and how both people will stay financially informed. The conversation is especially important when one spouse leaves the workforce, contributes to the growth of a business, manages the household or depends on the other spouse’s income. Catherine expands on insights she recently shared in a USA TODAY article about former stay-at-home wives who became financially vulnerable when their marriages ended. Karen and Catherine discuss: How prenups can support transparency instead of signaling distrust Questions couples should ask before deciding what remains separate or marital The long-term financial impact of leaving the workforce to care for a family When a postnuptial agreement may help an already-married couple create a new financial understanding The difference between managing the family’s money and using money as a form of control Why financial disclosure should continue as careers, businesses, assets and family responsibilities change How to begin a difficult financial conversation one manageable question at a time You do not have to know whether your marriage will continue or end before you start understanding your finances. Know what you have. Know what you owe. Understand what you are agreeing to. Financial clarity should not begin when you are getting divorced. It should be part of the financial relationship all along. My Divorce Solution does not draft prenuptial, postnuptial or separation agreements. These are legal documents with requirements that vary by state. MDS helps individuals and couples understand the financial information behind those decisions so they can move forward with greater clarity, confidence and control. Learn more about your ad choices. Visit megaphone.fm/adchoices