Are prenups only for the rich?

Conversations around prenup mostly surface when it's either a celebrity wedding, or a celebrity divorce. By and large, prenup is mostly associated as just one of those rich people's things. But is it really the case?

When Taylor Swift and Travis Kelce got married, the internet broke. Their wedding weekend was overflowing with emotions, as teary-eyed Swifties waited outside Madison Square Garden to catch a glimpse of the 'Love Story' they had been waiting for. A similar sentiment was shared when Selena Gomez got married to Benny Blanco. But beyond the emotions, there's one more thing that made headlines (not the dress or the ring): reports of these celebrity couples signing prenuptial agreements, or as they're commonly called, prenups.

A prenup is an agreement that records a couple's financial assets and outlines how they would be divided if the marriage ends. In fact, recently, actor Celina Jaitly also urged women to sign a prenup to secure their financial assets.

Now, this builds a common perception: Prenup talks are just for the rich, right? After all, they're the ones with million-dollar businesses, luxury homes, overseas properties and sprawling investment portfolios. Why would an average middle-class couple need one?

Time to burst that myth. Yes, it's a myth.

Prenups are not limited to the ultra-rich. According to experts, they are just as important for any other couple as well.

"I think prenups are extremely essential for the middle class because they would save a lot of heartache, heartburn and money burn. When you come to court, divorces take a lot of time," celebrity family and divorce lawyer Vandana Shah tells India Today. While a prenup is not legally binding in India yet, Shah advocates that legalising it could be beneficial.

And clearly, not just for the rich.

When love and law co-exist

It's not really a sin.

Money complicates relations. There are one too many cases of divorces turning acrimonious owing to financial disputes. And when a dowry-related death makes the headlines, it's a heart-wrenching reminder of what financial control can empower.

Experts also point out that spouses often fear walking away from a bad marriage because they have no financial security to lead an independent life. And that can happen to anyone, irrespective of your financial status in society.

So yes, it's for everyone.

A prenup helps record all assets, streedhan and other wealth that a couple brings into the marriage.

"Generally speaking, in dowry-related cases, a prenup could perhaps help because everything gets recorded. A prenup is like a record of your finances. You wouldn't have to put children through this entire wringer just to secure financial support. After 20 years of marriage, people are still wondering what they'll walk away with," Shah says, emphasising, however, that every case is different and subjective.

The divorce lawyer also clarifies that the situation can be very different in rural areas.

"I can't comment on village or rural India because the land laws there are very different. They're also governed by the rules of the Panchayat. The Panchayat in Haryana has very different rules from the Panchayat in Rajasthan or Maharashtra."

Financial certainty is the key

When you sign a prenup, you know what you will walk away with.

When asked about the debate around unfair alimony, Shah agreed that it might benefit those situations too.

"Yes, a prenup gives you certainty. This is what you're getting. You're not getting anything more. You're not getting anything less. Each person knows exactly what they would walk away with."

In fact, one can even renegotiate a prenup after marriage. Reportedly, Johnny Depp and Amber Heard did not have a prenup. But when Depp asked for a postnuptial agreement, it led to a huge fight, according to him.

The bottom line remains that prenups being only for the rich is nothing but a myth. But in the Indian context, the first step would be to get them legally recognised.

Because in a 'pro-marriage' country like India, the jury on prenuptials is still out there.

- Ends