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Budgeting, Financing, and Legal Issues Discuss ways of dealing with these issues.

View Poll Results: In regards to prenuptial agreements: (pick all that apply)
I have no problem signing one if asked 1 50.00%
I have no problem asking my soon-to-be spouse for one 1 50.00%
I would be deeply offended if asked and I would never ask for one 0 0%
Multiple Choice Poll. Voters: 2. You may not vote on this poll

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Old 12-06-2005, 01:43 AM
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Default Prenuptial agreements

This is a thread that was started in our old BlissWeddings.com forums by Sereniti71 on 1/26/05. Feel free to add your comments by pressing Post Reply.

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posted by Sereniti71

Hi Ladies,
How do you feel about prenups? Specifically, if someone is considering one, do you think they have doubts about the marriage or are they just covering all the bases? I would like to bring up the topic with my FH but I believe he will think I am having doubts about whether or not our marriage will work, or that I don't trust him. While I have no intention of getting divorced, we know that about 50% of marriages end in divorce. I plan to be on the other side of the fence, but we just never know what the future holds. How would you bring this topic up? Thanks.

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posted by syringa

A pre-nup is a good idea if either of you owns quite a bit of personal property, a home, or a business. If the two of you are coming into the marriage without much in the way of personal property, you may not need an agreement.

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posted by wynelle

Also check out your state's divorce laws. Many states acknowledge that what a person brings into a marriage, they retain after a marrige. So if you own property, a business, a professional license when you are married, they they remain yours undivided when you divorce, unless you choose to put the spouse's name on the title, etc. I think prenups are important when an adult couple (with children from previous marriages/relationships) married. You want to be sure family heirlooms from your grandmother stay within that side of the family unless you personally make a gift of the items. We read too many stories of elderly couples marrying, one dies first, and the children of the other spouse inherit everything, including personal items and property that have been in the other spouses family for years.

Prenups are not necessarily to prepare for divorces, but to protect marriages and children.

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posted by feb-bride

I don't know. My husband and I didn't have vast amounts of property or money when we got married, so we didn't even consider getting one.

They just seem so unromantic to me, but I can see why some people would want one. I'm not sure how you would go about bringing up the topic, especially if you think your FI would assume you're having doubts about your marriage lasting. If you're going to pre-marriage counseling, perhaps you could ask the counselor to bring up the topic.

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posted by catina

Unless you have vast amount of money, property, inheritances to come etc. I wouldn't get one personally. My husband and I had our own "posessions" when we entered into this relationship, have given 100 100 (dont' like 50/50 - it implies we're not in 100%!) the whole time, and what's his is mine and what's mine is mine (kidding)- his. He's made more money than me the whole time, but we share 100%. I may feel different if I had more, (not that I need anymore) but I think it really can give the wrong impression. Tread lightly on this one. Do you really have that much more then he does entering into this marriage? Is it worth the risk of possibly upsetting him and putting a wall between you to start the marriage? Think about it carefully. If you Britney Spears rich and Kevin Fenderwhatever, in that case I would have for sure!!

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posted by feb-bride

I agree with you, catina. I can see if one of you is extremely wealthy and the other is not, especially depending on the laws in your state.

I do know, though, that prenups can be so much more than "advance divorce preparations." I've heard of people putting all sorts of things in prenups, including which religion (if any) children will be raised in, and - get this - how often the couple will have sex. I've heard of people using prenups as a way to set the "ground rules" for the marriage.

Honestly, though, my husband and I never even thought about having a pre-nuptial agreement. I think I would have been offended had my husband asked me for one, and I can be pretty sure that he would have been offended had I asked for one.

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posted by catina

I'm with you there, feb-bride. But, having in writing how often you have sex?? Yikes! So if you decide you want "it" one night, let me check, no sorry we've already done the limit according to the pre-nup!!

Sorry, but if you need to have in writing all those things before-hand, your marriage is doomed!

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posted by feb-bride

No, kidding, catina!

The "sex" prenup was something that I saw on television several years ago. I don't remember what I was watching. It was some sort of news show (like 20-20 or Dateline NBC or something like that). This couple covered virtually EVERYTHING in their prenup. They even covered things like who was responsible for each household chore, who would be responsible for each form of care they would need to give to any children born to them, the fact that each person in the marriage must put their shoes and coats away when they come home from work, etc. I thought it was absolutely ridiculous.

Wonder if they're still married.

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posted by munchkin

I think Britney Spears has something about having sex at least three times a week in her prenup. I think it's an "at least" but it doesn't matter if they have sex more than that.
Kind of disturbing.

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posted by HeatherR

Quote:
Wonder if they're still married.

They're not. What you saw was the real "War of the Roses." They are actually a couple with the last name of Rose. I just tried looking it up but all I can find are articles about the movie (great movie by the way).

Heather

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posted by feb-bride

Gee, what a surprise. If you even have to address putting away shoes in writing, then you have some serious issues.

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posted by HeatherR

I'm looking at my bedroom right now wishing I would have put something in writing about my husband's basketball clothes all over the damn place!

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posted by feb-bride

Yeah, and I wish I had something in writing about my husband's horrible tendency to leave his work files strewn all around the living room.

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posted by Sereniti71

Well, we both have property. At the present time, mine is worth more, and my salary is about 40K higher than his. Of course, I don't want to ever get divorced, but was just wondering if I need to protect myself in case that happens. I don't want to lose my property or pay any palimony. I guess I started thinking about this after hearing some terrible stories from a friend who made more than her hubby. When they got divorced, she had to buy him out of the house and pay palimony to keep him living in the style to which he had become accustomed. Of course, she made a great deal more than he did.

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posted by asyouwish

I recommend a pre-nup if you have valuables that have been in the family or if you have are apart of a family business. In part- marriage is a gamble. You are betting that you will make it. Knowing you are going to loose financially if you can't make it work is a part of the gamble. However don't gamble on great grandma's farm or the business your dad built from scratch.

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posted by wynelle

Sereniti... you make a lot more than your FH, and from other posts you have indicated concern regarding the money he sends his mother, interference from her regarding your wedding ring, etc. In your case, I think it might be important to have a prenup. For example, if his mother has adequate income, but keeps hitting Sonny boy for money and he gives it, then his income is effectively decreased. When the income is so different, some couples will have an agreement on how to handle family finances (ie each contribute XXXX to "community money" to pay mortgage, household bills, etc, and can use remaining money as personally desires.) That way, you don't have to be upset that he is giving his mother and brother money, and he is still contributing equally to household expenses. Also, this is hard to believe, but I knew of a case where the couple divorced, and the exMIL sued the former wife for support, since she had supported the hubby and the hubby had sent money to Mom. Without the ex-wife's income, hubby couldn't send money to MOM. No one marries with the intention to divorce, but you are a classic example of someone who would have to buyout the house, unless it was in your name only prior to the wedding, and you would quite possibly have to pay him alimony.
  #2  
Old 12-06-2005, 01:48 AM
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Default continued...

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posted by feb-bride

In your case, Seriniti, I would recommend a pre-nup. I didn't remember that you were the one with FMIL money issues.

Given your circumstances, you should discuss this with your future husband. If your husband-to-be balks or refuses to sign one, then you have cause to be concerned.

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posted by syringa

You definitely need a pre-nup, not only in case of divorce, but if something happens to your husband. You need something that defines what his and your future intentions were so that his family doesn't come back on you. A pre-nup will outline everything that is your separate property before marriage and indicate how that property is to be distributed in case of the end of the marriage. While you are having a lawyer draw up a pre-nup you might want to discuss having a will made at the same time. For instance, if you have parents/siblings/nieces/nephews that you want to have your property, you don't want your in-laws getting half because half belonged to your spouse.

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posted by Sereniti71

Wow, Wynelle has a great memory! Thanks for all of your advice. I will keep you posted on how things turn out.

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posted by feb-bride

Syringa brings up another good point. I didn't even think about his mom trying to get some of your assets if he were to pass away before she does. In light of the fact that she's already leaching onto your fiance', I would definitely want to protect myself.

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posted by HeatherR

Something I learned yesterday...

My Mom is transferring some of her property and investments into my name. Her financial advisor told me that if they are in my name only, my husband can never "get to them" if something happens. I'm an optimist but I took his advice since it came from my Mom to me.

Heather

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posted by wynelle

Heather, you might want to check with an attorney on that. My attorney told me that anything I inherited would be mine alone should I divorce, but things given to me during a marriage could be perceived as community property. That theory makes sense, when you look at divorce financial statements where each spouse has to list any assets whether jointly or individually held. So many men start accounts without their wives' names on the account and then try to get by without including them in divorce settlements. Which is why one should always have a forensic accountant on stand-by in case of divorce.

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posted by HeatherR

I did, my best friend is an attorney.

Heather

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posted by Sereniti71

Well get this one ladies. I did not have to bring up the topic because he mentioned in passing that his "nosey" sis asked him if he had done any estate planning and told him he should definitely have a prenup. This made me laugh because they are the ones who try to take advantage of him, not I. He actually laughed about it too. So, I asked him if he wanted a prenup. We discussed it in depth and also laid out all of our assets. We both bring about the same amount of assets to the table counting retirement funds, stocks and bonds, property,debt etc. The only difference is salary. At this point, we have decided against the prenup. At any rate, I find it incredibly hilarious that his sis, who can't even manage her own money, feels like she needs to manage his. Unbelievable. By the way, my lawyer says that property obtained before the marriage remains solely yours unless you add your spouse's name to the title.

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posted by HeatherR

Quote:
By the way, my lawyer says that property obtained before the marriage remains solely yours unless you add your spouse's name to the title

Yes, and gifts from a parent to a child may remain the same as well - even if married. As long as it remains in the child's name alone.

Wynelle, don't you think having a forensic accountant on hand in case of divorce is a little extreme and pessimistic? I mean, knowing you're heading in that direction & preparing is one thing, but for someone just starting out it seems a little over the top. Forensic accountants work mainly for large businesses and if you have a good enough attorney looking our for your assets, you'll be fine.

Heather

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posted by wynelle

My DH and I have our new house in joint title, but anything else we had premarriage stays that way. So we're not too worried. I didn't mean to personally have a forensic accountant, more just I would want my attorney to have one. My DH had his ex hide significant assets (where she had saved joint money under her name in another bank) AND she had a personal friend who was a realtor give him an appraisal of the house (paid off) which was only about 2/3 of market.

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posted by HeatherR

Yikes! I can see your point, lol.

Heather

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posted by syringa

One thing to remember is that the laws vary from state to state. Some states are community property states and others aren't. If you move from one state to another, you may need to seek legal advice concerning the laws of that state.

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posted by the mom

I'm gonna throw another angle to this one, my daughter has a chronic disease that sends her to the hospital some times. While they do not have a "pre-nup" in the plans, I hope that persons planning their agreements have provision for sickness in there somewhere.
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