Wednesday, November 14, 2007

Prenuptial Agreements - this week's reading

First, another informational article. This time from Argus Leader Media - Sign here: Most couples reluctant to get prenup. Remember that if you are looking for more information on prenuptial agreements, to click on "prenuptial agreements" below next to the word label. Feel free to contact me if you are in Indiana and need a prenuptial agreement. The following contains good advice if you are thinking about a prenuptial agreement:

Following are cases in which couples should seriously consider the agreements:

When one or both partners has significant assets going into a marriage. A prenuptial agreement can make it clear how that property will be treated if a couple divorces.

In a second marriage in which one of the partners has children. A prenuptial agreement can spell out what the first family will inherit if that partner were to die.

Debt incurred before the marriage remains the responsibility of the person who originally borrowed the money, even without a prenup in Brooks says.

But a couple might be wise to decide before they marry whether they will use community property to pay off either partner's premarital debt, suggests Vickie Bajtelsmit, professor of finance at Colorado State University and author of "The Busy Woman's Guide to Financial Freedom."

"I've heard horror stories where people went in with blinders on. They paid off the debt, and their partner disappeared."

And some fun with prenuptial agreements: PRENUPTIAL AGREEMENT ~ CAJUN STYLE

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