Many might have heard of prenups. Legal documents signed before a couple enter into a marriage.?
Prenuptial agreements are legal contracts signed before marriage are often discussed in absolute terms. Legally it is considered as an essential protection or, conversely, as unnecessary if trust exists. However, discussions among high-earning, dual-income couples reveal a more nuanced reality, particularly when both partners enter marriage with comparable assets and professional stability.
While previously these agreements were considered between partners with large generational wealth, it has become much popular in western countries among ordinary couples as well.
A recent discussion about a prenup between a physician and a non-physician partner in a Facebook physicians' community, highlights why prenups remain a debated topic even when financial disparities appear minimal. The post goes like this.
PRENUPS - one again: Would appreciate some responses other than reactive “you MUST have a prenup” statements. Partner 1: non-doc, 300k salary, 2.6 mil in money and assets saved. Partner 2: doc, 600k salary but will go down to 350-400k during child rearing years, 1.5 mil in money and assets saved. I don’t see the point of a prenup in OUR case? We’re very similar in net worth.
A prenuptial agreement (prenup) is a legally binding contract created before marriage that defines how assets, debts, income, and spousal support will be handled if the marriage ends due to divorce or death. Prenups typically address:
Ownership of premarital assets
Treatment of income earned during marriage
Responsibility for debts
Spousal support (alimony) provisions if one person is not working or choosing to stay at home with kids
Business or professional practice interests
Prenups do not govern child custody or child support, which are decided by courts based on the child’s best interests, regardless of any prior agreement. Custody of pets can be decided through prenups.
In the absence of a private agreement, state family law determines asset division. Depending on jurisdiction, this may involve community property or equitable distribution rules.
While premarital assets are often protected, growth or appreciation during marriage such as interest, dividends, or reinvestment, may be considered marital property in some states. A prenup can clarify how such growth is treated.
Medical careers often involve delayed earnings, income volatility, and planned reductions during caregiving years. Prenups may be used to define how these fluctuations are considered if the marriage dissolves.
Commonly cited uncertainties include:
Career changes or job loss
Health issues affecting earning capacity
One partner leaving the workforce
Inheritances or business investments
Prenups are designed to address future scenarios rather than present conditions.
Physicians are often encouraged to consider prenups due to:
High lifetime earning potential
Medical school debt
Practice ownership
Malpractice exposure
However, experts note that prenups are not one-size-fits-all, and their value depends on individual circumstances rather than profession alone.
Most of the members in the community urged the person to get the prenup drafted and done since it would help the couple in the long run.
You only look at a contract when things go wrong. By then it’s too late. People change. Sh*t happens. Get a prenup. It protects everyone. If there’s not issue and you stay happily married, you win. If something happens, you’re protected so you win again.
Another view given by a member of the community was even more practical and involved partners communication ability, which would ultimately benefit the marriage in long run.
Another way to look at a prenup Experienced divorce attorney that posts lots of videos. Says couples that can have the difficult conversations including how to setup a prenup has better track record for success in marriage
Another anonymous member commented, "Agree none needed. Most of the assets will be accumulated during the post marriage period anyway, for which the prenup will not have a role."
Prenuptial agreements are risk-management tools, not predictions of marital failure. Even though the conversation around a prenup before a couple start their marriage might be tad uncomfortable, legal experts suggests that it might be a good way to protect yourself in the future. For couples with similar net worths, the decision often hinges on how much control they want over future financial outcomes versus reliance on existing legal frameworks.
Understanding what prenups do and what they do not do, allows couples to make informed decisions aligned with their financial structure, career trajectories, and legal environment.