August 31, 2006
PreNup
The Prenup Question
Unfortunately, only about 5 percent of couples heading into marriage actually sign prenuptial agreements. You should consider one:
If you’re bringing significant assets into a marriage.
If you have your own business.
If you have family money.
If you have kids from a prior marriage.
If you are expecting a major inheritance.
If you go this route, make sure your agreement covers in the case of divorce or death: how to divide the property each of you brought to the marriage, how to divide property you acquire after the marriage, how your assets will be divided, how your debts will be handled, and whether each spouse has any financial responsibility for the other’s children from previous marriages.
Most importantly, in order to hold up in court, a prenup needs to be fair. That means each of you needs to have his or her own attorney involved when the agreement is being drawn up, and all assets and liabilities need to be disclosed.
Oh, and don’t wait until the day before you head to the altar to talk about this.
You don’t want a court to later say you “pressured” your spouse into signing.
Enjoy the love, and remember.. it IS a business relationship in the eyes of the State.



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