The Prenuptial Agreement Dilemma

Written by Jeffrey Broobin

Should we have a prenuptial agreement?

OK. You can look atrepparttar idea as very cold and unromantic. You can look atrepparttar 119279 idea as a considerate and practical way to decide beforerepparttar 119280 marriage certain issues having to do with your money.

It is interesting to note thatrepparttar 119281 custom of creating prenuptial agreements is notrepparttar 119282 modern invention that it seems to be. Duringrepparttar 119283 19th century, beforerepparttar 119284 Married Women's Property Act of 1848, prenuptial agreements were necessary for women inrepparttar 119285 United States. Untilrepparttar 119286 act became law, everything a woman owned or inherited was transferred to her husband. If he died or divorced her, she was just out of luck.

Nowadays it is not so uncommon to execute prenuptial agreements. And these are not just forrepparttar 119287 famous super-rich couples we read about, where one spouse is much richer thanrepparttar 119288 other. These are couples who want to be upfront about financial issues and get that out ofrepparttar 119289 way beforerepparttar 119290 wedding.

A Prenuptial Agreement is a signed and notarized contract that describes how a couple will handlerepparttar 119291 financial aspects of their marriage. The prenuptial agreement has many positive benefits that are not related to divorce, and although it is not very romantic, it has many positive elements.

If a future spouse won't sign a prenuptial agreement, it may be best to discover this beforerepparttar 119292 wedding. The financial well-being of children from a previous marriage can be protected Personal and business assets accumulated beforerepparttar 119293 marriage are protected by a prenuptial agreement. A prenuptial agreement reveals financial expectations beforerepparttar 119294 wedding. A prenuptial agreement discloses assets a spouse may want to give to children or other family members inrepparttar 119295 event of death. Inrepparttar 119296 event of a divorce,repparttar 119297 prenup eliminates battles over assets and finances. Signing a prenup does not mean that a couple is anticipating divorce. Prenups address financial matters need to be faced. A well-constructed prenuptial agreement can preserve family ties and inheritance.

BREAKING UP. Rights and obligations with prenuptial agreement.

Written by Jeffrey Broobin

Prenuptial Agreements (Premarital Contract) are like insurance policies. You dorepparttar paperwork, and then hope you'll never need it. However, since half of marriages end in divorce withinrepparttar 119278 first seven years, you may want to consider a prenuptial agreement before you walk downrepparttar 119279 aisle and say, "I do."

Since you could later be engaged in a nasty, costly, and emotionally draining divorce some day, you should consider a prenuptial agreement as a precaution. Below we have given you some information on what is in a prenuptial agreement and whether it could be useful for you.

A prenuptial or ante nuptial agreement is a document signed by two people who intend to be married. It describes their rights and obligations should they get divorced. A prenuptial agreement informsrepparttar 119280 court how they want their assets and property divided up.

Divorces become messy when parties cannot agree onrepparttar 119281 distribution of property, such things asrepparttar 119282 house,repparttar 119283 house, stocks, and bonds and whether one party should payrepparttar 119284 other alimony, now known as "maintenance" in most states. Assume thatrepparttar 119285 husband has $1,000,000 in his own name prior torepparttar 119286 marriage. A properly drafted prenuptial agreement can award that same $1,000,000 to him after a divorce, notwithstanding what he does withrepparttar 119287 money, such as purchasing a home in joint tenancy or shiftingrepparttar 119288 money into other accounts. Without a prenuptial agreement,repparttar 119289 wife might be entitled to one-half ofrepparttar 119290 $1,000,000 or more, depending onrepparttar 119291 financial circumstances ofrepparttar 119292 parties atrepparttar 119293 time ofrepparttar 119294 divorce. The prenuptial agreement is a powerful and valuable tool that can favorrepparttar 119295 husband, protectrepparttar 119296 wife, or serve both of them fairly. It is a question of circumstances and intentions.

Candidates for prenuptial agreements used to be just older individuals with huge estates that they wanted to protect from gold diggers for their children from previous marriages. Since more millionaires are born every day,repparttar 119297 candidate pool is growing by leaps and bounds. Now everybody has something to protect: an unpublished author,repparttar 119298 budding inventor, anybody with a lucrative profession or a good idea. So, before you dismissrepparttar 119299 idea of a prenuptial agreement, assess your situation in life and your long-term future in deciding whether a prenuptial agreement is right for you.

Consider at lengthrepparttar 119300 nature and extent of your present and possible future assets. A prenuptial agreement can be a very simple document running only a few pages that segregates each party's assets owned beforerepparttar 119301 marriage, or it can be a very complicated document that runs dozens of pages because it deals with income and assets acquired duringrepparttar 119302 marriage,repparttar 119303 payment of debts, attorneys' fees, alimony/maintenance, and other financial matters. The next hurdle is raisingrepparttar 119304 issue with your intended spouse, a very unromantic event. It helps to get it over with early. Perhaps you could blame it on someone else, such as your parents who may want to involve you in a family business, or possible business partners.

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