Thursday, January 29, 2009

Are you prepared for your prenup?

Give Preparing for your Prenuptial Agreement a good reading. I only ran across Linda's Law Blog Today but I thoroughly enjoyed this post. It made me think about a few things in a way I had not done so before.

Here are some highlights:

As part of your preparation, you should also have an idea of your plans with your future spouse. Do you intend to have children? Do you both intend to continue working? Do you intend to move your primary residences? No Prenuptial Agreement can provide a crystal ball into the future and account for every possible situation that a married couple will face. However, having some type of an idea as to what you plan will help your attorney to at least draft for those situations.


Think about your debts as well as who has given you gifts. If your parents gave you the down payment on your home, they may not want it back, unless of course, you divorce. If you borrowed money but do not have a valid promissory note, correct that before you marry.

Once you are married, especially if you are the independent spouse (wealthier spouse), in order to be adequately protected by the Prenuptial Agreement, you should comply with its various provisions. By way of example, if a Prenuptial Agreement only protects separately titled assets, realize that property or debt you place in joint names will not be protected.

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