contracts Archives | Cordell & Cordell

Joe Cordell To Huffington Post: Pay Attention To The Marriage Contract!

Joseph CordellCordell & Cordell co-founder Joseph Cordell is featured on HuffingtonPost.com for his viewpoint that guys do not appreciate the extent and comprehensiveness of the marriage contract that essentially means all of their assets become hopelessly commingled once they are married.

“The single most important economic decision a person will make during their lifetime is deciding to say, ‘I do,'” Cordell writes. “The second most important economic decision a person will make is deciding to say, ‘I don’t.'”

It’s likely one of the spouses in a marriage will contribute disproportionately more in assets to the marital partnership, yet all that income, property, and assets become merged into one marital pot where the lesser contributing spouse is now entitled to half.

So what should men do to protect their assets? Read the Huffington Post article: Careful Marriage Contract May Facilitate Less Painful Divorces.”

Marriage contracts can ease divorce process

Marriage contracts are something that some couples are hesitant about signing prior to their union, but doing so may lead to less pain and a more organized split if this ends up happening, according to the Huffington Post.

Prenuptial agreements can help a couple easily decided how the asset division will work in the event of a death or a divorce. This can help to limit the amount of pain and time that is spent on distributing property and belongings if a split does occur.

Lee Block, writing for the Huffington Post, recommends that couples consider inserting a protective clause into their contract or prenuptial agreement that outlines financial support in the event of a divorce.

This will help to establish conditions upon the termination of the marriage, and if these aren’t met, the individual will have documentation that can provide additional legal recourse in the event of divorce, noted Block.

“If you’re entering into a prenup, it’s only smart to have your own attorney take a look at it and make sure you’re protected,” Block advised in the column.