You don't have to be a Rockefeller or Trump to need a premarital agreement. A person who has managed to save $30,000 may be more protective of their little nest egg than someone who has millions.
Wedding Legalities, Prenuptial Agreements, Premarital Agreements, prenup, financially compatible are important to discuss!
"Those are sometimes the most jealously guarded assets because it has taken a lot of hard work to accumulate a small amount," says Joseph P. Zwack, an Iowa lawyer and author of a best-selling handbook "Premarital Agreements: When, Why and How to Write Them."
You should consider having a prenup if you fall into any of the following
categories:
· You have assets such as a home, stock or retirement funds
· Own all or part of a business
· You may be receiving an inheritance
· You have children and/or grandchildren from a previous marriage
· One of you is much wealthier than the other
· One of you will be supporting the other through college
· You have loved ones who need to be taken care of, such as elderly parents
· You have or are pursuing a degree or license in a potentially lucrative profession such as medicine
· You could see a big increase in income because your business is taking off, or that garage band you play in has just gotten a contract with a big record company.
Wedding Legalities, Prenuptial Agreements,Premarital Agreements, prenup, financially compatible are important to consider!
Nothing can kill romance faster than the word prenup. But with about one in three of all first marriages ending in divorce, and 50 percent of second or third ones hitting the skids, a prenup is smart financial planning, legal and financial experts say.
So how does one broach this touchy subject? First, do it as early as possible. The mention of a prenup shouldn't come as a surprise if you and your sweetheart have been open with each other as the relationship became serious.
Dunnan recommends couples talk it over before the engagement. "Let your intended know you believe these agreements are important and that you'd like to go over the topic."
Second, the discussion must be honest. "You have to be real candid about why you want the agreement. It's not very romantic, but you have to appreciate what the other party's concerns are," says Michael McDonough, a Palm Beach County, Fla., lawyer who practices matrimonial and family law.
Wedding Legalities, Prenuptial Agreements,Premarital Agreements, prenup, financially compatible are important to negotiate!
I managed to save a nest egg and want to preserve it - thanks for the details!
Marcia
Rating:
9 out of
10
