You can do so much more with a prenup than protect your current assets.Originally posted by: mugs
Telling her father was worst part about getting engaged for me... so I let her do it.
Is there a point to getting a prenup if neither party goes into the marriage with any significant assets? Would you make her agree to divide assets proportionately to the income you brought in, even though she may have to give up her career in order to have children? Or what?
What You Can Do With a Prenup
Prenuptial agreements are most often used for the following reasons:
Keep finances separate. Every state has laws designating certain kinds of assets accumulated during marriage as marital property or community property, even if these assets are held in the name of just one spouse. If a couple divorces, or when one spouse dies, the marital or community property will be divided between them, either by agreement or by a court. If you want to avoid having some or all of your individual accumulations during marriage divided up, you can do so with a premarital agreement.
Protect each other from debts. Some of us bring debts, as well as assets, to a marriage. If there's no prenup, creditors can sometimes turn to marital or community property to satisfy the debts of just one spouse. But if you want to make sure that saying "I do" does not mean saying "I owe," you can use a prenup to limit your liability for each other's debts.
Provide for children from prior marriages. A prenup is helpful (perhaps essential) if either of you has children from another relationship and you want to make sure that your children inherit their share of your property. In a prenup, one or both spouses can give up the right to claim a share of the other's property at death, perhaps in exchange for an agreed upon amount of property.
Keep property in the family. If your property includes something you want to keep in your birth family, whether it be an heirloom or a share in a family business, you and your spouse can agree that it will remain in your family, and you can specify that item in your prenup. This can even include property that you expect to receive in a future inheritance.
Follow through by making your estate plan. In addition to using your prenup to waive inheritance rights and state your intentions for passing on your property at death, it's vital that you prepare the estate planning documents -- a will, living trust, and so on -- that actually transfer your property as you intend.
Define who gets what if you divorce. Without a prenup, state law will specify how your property will be divided if you ever divorce. These laws may dictate a result that neither of you wants. You can use a prenup to establish your own rules for property division and avoid potential disagreements in the event of a divorce. In most states, you can also make agreements about whether or not one or both of you will be entitled to alimony. Some states forbid or restrict agreements about alimony, however. (See "What You Can't Do With a Prenup," below.)
Clarify responsibilities during the marriage. In addition to the reasons listed so far, there are countless other uses for a prenup, depending on your circumstances. Here are some examples of other matters people include in their prenups:
* whether to file joint or separate income tax returns or to allocate income and tax deductions on separate tax returns
* who will pay the household bills -- and how
* whether to have joint bank accounts and, if so, how you will manage them
* agreements about specific purchases or projects, such as buying a house together or starting up a business
* how you will handle credit card charges -- for instance, whether you will use different cards for different types of purchases, what kinds of records you will keep, and how you will make payments
* agreements to set aside money for savings
* agreements for putting each other through college or professional school
* whether you will provide for a surviving spouse -- for example, in your estate plan or with life insurance coverage, and
* how to settle any future disagreements -- for example, you might agree to hire either a mediator or a private arbitrator.
What You Can't Do With a Prenup
There are some things you just can't -- or shouldn't -- do with a prenup. State laws differ as to what matters are considered off-limits. However, as a general rule, any agreement to do something that is illegal or against state-defined public policy will be considered unenforceable -- and may even jeopardize other valid aspects of the premarital agreement. Here are some things that you can't do, at least in some states:
Restrict child support, custody, or visitation rights. No state will honor agreements limiting or waiving future child support. The same holds true of agreements limiting future custody and visitation rights. This is because state lawmakers consider the welfare of children to be a matter of public policy and do not enforce any private agreements that would impair a child's right to be supported or to have a relationship with a parent in the future.
Give up the right to alimony, in a few states. A handful of states similarly limit your ability to waive alimony -- also called spousal support or separate maintenance -- if there is a divorce. Other states permit such waivers, so you will need to know what your state laws say if you are considering this kind of agreement.
"Encourage" divorce. At one time, many courts viewed any prenup specifying how things would be divided up in case the couple splits as void and unenforceable because it promoted divorce. The modern approach allows such agreements, but judges in some states still take a hard look at them. If the agreement appears to offer a financial incentive for divorce to one party, it may be set aside.
Make rules about nonfinancial matters. For practical reasons, you should keep personal agreements out of your prenup. Here is a partial list of nonfinancial matters that sometimes find their way into prenups, but are better dealt with separately. Of course, the possible issues are endless and you may well think of many that aren't mentioned here:
* responsibility for household chores -- from laundry to cleaning to car care
* use of last names after you marry
* agreements about having and raising children, such as birth control, having children, children's names, child care responsibilities, and education
* how you will relate to in-laws or stepchildren, and
* whether you will have any pets and who will be responsible for them.
These kinds of nonmonetary agreements aren't binding in court, and in fact they could cause a judge to take your entire prenup less seriously. Rather than including personal matters in your prenup, you may find it helpful to simply make a list of your most important concerns and discuss them together. If you want to take it a step further, you can underscore your commitment by writing down your personal agreements in a separate document -- perhaps in a letter that each of you writes to the other, clarifying your intentions and wishes.
Text
Yep yep...
Btw this thread was on advice on how to approach the parents in asking their blessings...any tips he'd appriciate, I'm sure
Btw this thread was on advice on how to approach the parents in asking their blessings...any tips he'd appriciate, I'm sure
GhettoPeanut
Senior member
- Feb 9, 2005
- 696
- 0
- 0
i agree with you, if you get a prenup, your just asking for it to fail.
but then again, are they nice adidas?
They were when they were new. Almost two years old now. I guess they are still pretty sexy though.
Ok, so since this thread has been totally hijacked by Gigapet, I'm interested to know the divorce rate for marriages without a prenup versus the divorce rate for marriages with a prenup.
nope its an insurance policy. you have life, health, car and home insurance. If you can justify those it should be easy to justify a prenup
Originally posted by: Medicine Bear
They were when they were new. Almost two years old now. I guess they are still pretty sexy though.
Pics or at least a link?
moshquerade
No Lifer
- Nov 1, 2001
- 61,504
- 12
- 56
good luckOriginally posted by: Medicine Bear
She is from a very traditional family so I'm thinking asking her father first is the way to go. Have to keep the parent's impressed you know.
I have the ring, just need my balls to drop back down.
Wish me luck.
this must be your first marriage...
lol see ya back in a few years...
youll be wow.. I shoudla listened..
<===
been married 2x first one died.. car accident..
second one turned into a psycho controlling bitch 4 years into marriage...
50k+ and my house later I am a firm believer in prenups now...
they arnt just for the wealthy..
I love all the Young peeps here that are all still romantically minded about love and marriage being absolute...
I used to feel that way too..
- May 13, 2003
- 13,704
- 7
- 81
Congradulations, and I hope the best for ya'll. As for the father, just get it out there, and don't d!ck the dog. No sense is skirting around it. You know? Anyway, that's my $.02.
Tas.
Tas.
First off: Cheers to you Medicine Bear.
Secondly: Keep her away from the vending machines (j/k).
Secondly: Keep her away from the vending machines (j/k).
Today is the three year anniversary of when we started dating. We are going to repeat our very first date tonight. Except of course for when I pop the question.
That, sir, is an AMAZING PLAN! CONGRATS to you! Sounds like a lotta love and that's never a bad thing. I think ~2 years is the universal "make it or break it" point. By 2 years you've learned enough to know if you can/want to stay with that person forever. At 3 years it's pretty definite unless something drastic were to happen. All the best bro, all the best
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