Millions of people congratulated Britney Spears for her recent engagement. Almost as many people urged her to get a prenuptial agreement.
Her fiancé, Sam Asghari, was already on board.
“Thank you all for being concerned about the prenup! Of course, we get an iron-clad prenup to protect my shoe and jeep collection in case I ever drop out,” she wrote on Instagram.
In fact, the singer’s assets are valued at more than $ 50 million, making the pop star and her love for a long time obvious candidates, but fame, fortune and financial conservatism in part, most couples can benefit by sorting out some money issues before they tie. the knot.
“More people could benefit from a prenup than we normally think,” said certified financial planner Stacy Francis, president and CEO of Francis Financial in New York.
For example, prenuptials, which generally protect real estate and real estate investments, savings accounts, or a business, can also offer the opportunity to see how you can compensate a partner for leaving the workforce to take care of their children.
The average cost of a prenup can range from about $ 1,200 for simple, low-cost deals to $ 10,000 for more complicated matters.
“Part of the definition of a marriage is an economic union,” Francis said. “It helps to establish the terms of the economics of marriage.”
It helps to establish the terms of the economy of marriage.
Stacy Francis
CEO of Francis Financial
In addition, it is increasingly common for there to be complicated factors, including children from a previous relationship, a family business, real estate and investment, or a partner’s credit or student loan debt.
For millennials, in particular, now with $ 1.7 trillion in outstanding student loans, it may be reason enough to consider such protection.
A solid prenup can even help couples stay married, according to Penelope Hefner, a family law attorney and director of the Sodoma Law Union in Monroe, North Carolina.
It was an opportunity to hold these conversations about money. Doing so before marriage provides each person with a better understanding of what is most important to their partner, as well as the ability to discuss and set shared goals.
“Everyone brings something to a wedding,” Hefner said. “A prenup agreement provides security in knowing what your partner values about you and what is important to you.”