Do I ask for a prenuptial agreement?

[Anonymous]

Anonymous wrote: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.

**I’m PP, meant to say that his salary differential is $150K higher than yours.

[Anonymous]

Premarital assets are not usually part of a divorce. If you want to keep your side business separate, as well as income from that yours only, you need a prenup.

I am a believer in commingling my life with my spouse/banking on the marriage. 20 years in and no regrets.

[Anonymous]

No: 1. he has higher earning potential. 2. You can simply put all your pre-marital savings into a separate account

Now, on your rentals is where the commingling would happen. The increase in equity is marital property in most states, particular if you use marital funds to maintain them.

What’s the present value of properties (net equity)?

[Anonymous]

Anonymous wrote:No: 1. he has higher earning potential. 2. You can simply put all your pre-marital savings into a separate account

Now, on your rentals is where the commingling would happen. The increase in equity is marital property in most states, particular if you use marital funds to maintain them.

What’s the present value of properties (net equity)?

I only have own rental property but I will be selling. I’m expecting to make a profit of 80k. I sold 3 condos that I bought and fixed up. I made a combined profit of 587k.

[Anonymous]

Anonymous wrote:

Anonymous wrote:No: 1. he has higher earning potential. 2. You can simply put all your pre-marital savings into a separate account

Now, on your rentals is where the commingling would happen. The increase in equity is marital property in most states, particular if you use marital funds to maintain them.

What’s the present value of properties (net equity)?

I only have own rental property but I will be selling. I’m expecting to make a profit of 80k. I sold 3 condos that I bought and fixed up. I made a combined profit of 587k.

So just sell it before marriage and put the proceeds in a separate account under your name only (or a brokerage and just buy S&P or treasuries). It’s a negligible amount and not worth it raising the prenup question

On the future investments in real estate, if you get married , both should have a day . It’s easier to run a side business together with husband, jointly you’ll have much higher borrowing capacity

[Anonymous]

Anonymous wrote:

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.

Yeah but if he has access he can hide or spend hers.

[Anonymous]

Anonymous wrote: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.

Is this a George Costanza-Susan situation?

[Anonymous]

Anonymous wrote:

Anonymous wrote: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.

Is this a George Costanza-Susan situation?

I don’t know what that is. I never liked or watched Seinfeld.

[Anonymous]

Premarital assets are yours in the event of a divorce. Divorce only divides marital assets. Your premarital money is already protected by law.

[Anonymous]

Several situations commonly call for prenups:
- children
- family money (either now or likely in the future)
- Significant differences in net worth, income or expected income
- Seven figure net worth, income or expected income, whether it is similar between the two of you or not
- Debt
- Major health issues

[Anonymous]

Anonymous wrote: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.

Yea, if you are substantially richer than him.

[Anonymous]

Prenups are 100% necessary, even if only for the fact it forces you to have difficult conversations about money you otherwise wouldn’t have.

Do you want to have kids? I would definitely negotiate what you’ll do if you have kids and one person steps back from their career. If you’re the woman and planning on staying home, I would negotiate a salary and higher percentage of marital assets.

[Anonymous]

Only if you currently own properties, yes, you need one. If it's cash, I guess you could get one but you can also on a contract basis outline if you use the cash for down-payment that it comes back to you first before you split the proceeds of a sale.

[Anonymous]

The greatest value of a prenup, even for those who don’t necessarily have a lot of assets to protect, is to minimize transactions costs in the event of a divorce, when people are often angry and hurting and make the expensive decision to use the legal system to kind of lash out.

[Anonymous]

Can’t you talk to him now about how to handle money after you are married? It sounds like you are a better investor than he is. You’d have the opportunity to invest his money as “your” (marital) money that would greatly benefit both of you.
Communication is extremely important, especially about money. Talk to him.