PRENUPS MAKE A LOT OF $ENSE
With roughly half of all marriages ending in divorce, prenuptial agreements should be part of a woman’s financial thinking and planning, according to our financial advisers. As unromantic as it sounds, a woman needs to think of marriage — especially if she has significant assets of her own — as a financial transaction. Negotiating a prenup can be an ugly process, our advisers warn, adding that if things get ugly, that can be a signal of how the marriage itself will turn out.
Who Gets Grandma’s Lamp?
Prenuptial agreements are highly personalized and can get very specific regarding who gets what in a divorce, says Dorie Fain of AndWealth in New York.
We Call It the “Bimbo Clause”
Whether you’re planning a traditional or same-sex marriage, among the most important details of your prenuptial agreement is what Jennifer Hatch of Christopher Street Financial calls “The Bimbo Clause,” as she explains in describing her own same-sex marriage.
No Pre-Nup? How about a Post-Nup?
Jennifer Hatch of New York-based Christopher Street Financial sees a lot of value in a pre-nup. When there’s no pre-nup, a post-nup may do the job.
Remarrying? Prenup Essential. Process Can be “Horrible”
The first piece of advice that Debra Taylor of Taylor Financial Group gives a woman considering remarriage is to get a prenup, no matter how difficult the negotiating process may become. And, boy, can it get difficult, she warns.
Ugly Prenup Process Can Foretell Ugly Marriage
Women should keep a close eye on the attorney their future spouse picks to represent him in prenup negotiations, advises Dorie Fain of AndWealth in New York. If the lawyer is contentious and/or condescending, that can be a tipoff about how the marriage will go.
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