‘He fell in like during the flight’
The April 29 noble wedding of Prince William and Kate Middleton is quick approaching, and amid the usual fanfare surrounding the fairy-tale ceremony, customer supporter Clark Howard noticed something curious. The United Kingdom media culture things Wills must sign a prenuptial. While such contracts are far from intimate, in the minds of financial planners everywhere, they’re vastly practical. Article source – Prenuptial agreements – Not just for royalty anymore by MoneyBlogNewz.
What a prenuptial agreement has in it
Although there is the nomenclature – prenuptial agreement, prenup, prenupt or premarital agreement – a prenup is a legal contract signed before a marriage or civil union. What happens in the event of a divorce is predetermined in the prenup. There could be uncommon stipulations though. Provisions for child guardianship and forfeiture of assets in the event of indiscretions like adultery may also be present. After marriage, a postnuptial agreement could be made too. It is just like a pernup.
Common divorce
One in three first marriages and at least half of second and third marriages end in divorce, states Bankrate, so financial experts say prenuptial agreements are a excellent thought.
“Marriage is not just an emotional and physical union — it’s also a financial union. A prenup and the discussions that go with it can help ensure the financial well-being of the marriage,” said New York City financial adviser Nancy Dunnan.
Prince William and Kate Middleton are not the only ones a prenup is for. It could be for everyone. If a person has managed to sock away a nest egg, guarding it is worthwhile.
“Those are sometimes the most jealously guarded assets since it has taken a lot of hard work to accumulate a small amount,” said Iowa lawyer Joseph Zwack, instigator of “Premarital Agreements: When, Why and how to Write Them.”
The prenup or postnup cryptogram
Bankrate suggests you talk to an attorney if any of these relate to you inside your marriage:
- You own a home, business, and stock or retirement funds
- You may end up making lots of money in your business venture
- An inheritance is going to you
- You have kids or grandchildren from a previous marriage
- There’s a significant imbalance of wealth between you and your spouse
- If you are paying for spouse’s education. You are getting them through college
- You need to take care of elderly parents
- You have or are pursuing a medical degree or similarly lucrative license
How to proceed if you would like a prenuptial agreement
Dunnan suggests you approach the topic with your mate as early as possible, and Palm coastline County, Fla., attorney Michael McDonough states honest discussion is vital. So long as both parties have a lawyer – ideally matrimonial lawyers familiar with prenups and the laws of the state in which you’ll live together – a honest agreement is possible.
Citations
Bankrate
bankrate.com/brm/prenup.asp
Clark Howard
clarkhoward.com/news/clark-howard/family-lifestyle/must-newlyweds-sign-pre-nuptial-agreement/nCQsJ/
Wikipedia
en.wikipedia.org/wiki/Prenuptial_agreement