Do I ask for a prenuptial agreement?

[Anonymous]

I'm getting married to my amazing fiance this fall. I'm being encouraged to ask him for a prenuptial agreement. I think it's pretty weird but wnated to ask married individuals what would they do in my situation.

[Anonymous]

Need way more info. What are you bringing to the marriage that you want to protect? Family trust fund? Millions? What about debt? Same info needed about your fiance

[Anonymous]

Anonymous wrote:Need way more info. What are you bringing to the marriage that you want to protect? Family trust fund? Millions? What about debt? Same info needed about your fiance

This.

[Anonymous]

Anonymous wrote:Need way more info. What are you bringing to the marriage that you want to protect? Family trust fund? Millions? What about debt? Same info needed about your fiance

I think it’s pretty crazy since neither of us are rich. I’m definitely do well for my age but nothing wild.

Me: I have been fortunate enough to save and invest in rental properties and small flips. It’s not a business or anything close to it.

I have close to 800,000 in savings from these investments and general savings from my 150,000 salary. I have a little over 200k in my 401k. I have zero debt.

Him: Makes around the 300,000 mark. No debt. He doesn’t have any side businesses. His savings amount is the low 400 range. I’m not sure about his 401k.

I’ve been told that it’s best to protect money I earned before my marriage and my 401k because that can be taken in the event of a divorce.

[Anonymous]

This doesn’t seem like a whole lot of money to protect. Are you marrying for the wrong reasons and worried you will end up divorced?

[Anonymous]

You are a millionaire he isn't. Prenup keeps your premarital assets clear with no later haggling.

[Anonymous]

While you have more savings now, he has higher earning potential. If you are protective of your prior assets be prepared for him to be protective of his future earnings.

[Anonymous]

both of you keeop your "before" money in accounts in only one name. start combining when you get married.

[Anonymous]

No. When you get married combine finances and go all in on investing and saving. Sounds like you both do well.

[Anonymous]

Anonymous wrote:You are a millionaire he isn't. Prenup keeps your premarital assets clear with no later haggling.

Assets are only divided after marriage not before.

[Anonymous]

Anonymous wrote:This doesn’t seem like a whole lot of money to protect. Are you marrying for the wrong reasons and worried you will end up divorced?

I’m marrying because I love him and want to spend my life with him. I’m also realistic that many marriages start out this way and end in divorce. I still don’t think I need to protect my money.

[Anonymous]

What is in my name is my money,
What is in your name is your money,
What is in our name is our money.
Have this agreement and start marriage.

[Anonymous]

Anonymous wrote:both of you keeop your "before" money in accounts in only one name. start combining when you get married.

And this type of advice is why you seek advise of an attorney who actually specializes in this type of planning.

[Anonymous]

Yes. I would not be offended and would want my (future) spouse to know in writing that I am not marrying them for their money.

[Anonymous]

Assuming your fiancé has nothing in his 401K, there’s only $400K difference in your assets vs his. His $150K salary can make up that gap in 3 years. Most likely, but not guaranteed, his salary trajectory will continue to outpace yours and the gap will to expand. If I were him, I would protect my future earnings as much as possible if you asked for a prenup.

Now if you had more assets and a higher salary, there would be a stronger case to protect your earning and assets.