Postnup when company sells?

[Anonymous]

Anonymous wrote:Sure, if you want to ensure that those assets are protected and solely yours should you ever divorce. That assumes your spouse would agree to sign a postnup, though. For most families we know where one partner works at a startup, there has been a "cost" to the other partner in the form of having to have flexibility in work schedules, reduced hours, etc. to cover home and childcare responsibilities such that the spouse would probably not agree that the money earned belonged solely to the spouse who was at the company. If that has not been your experience, your spouse might be more likely to agree that he/she played no role in your earning that money, and might be okay drafting a postnup to document that it is solely yours.

The bolded is so critical. This is the equivalent of asking your partner to pay your way through medical school and residency, and then asking for a postnup as soon as your loans are paid off.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Sure, if you want to ensure that those assets are protected and solely yours should you ever divorce. That assumes your spouse would agree to sign a postnup, though. For most families we know where one partner works at a startup, there has been a "cost" to the other partner in the form of having to have flexibility in work schedules, reduced hours, etc. to cover home and childcare responsibilities such that the spouse would probably not agree that the money earned belonged solely to the spouse who was at the company. If that has not been your experience, your spouse might be more likely to agree that he/she played no role in your earning that money, and might be okay drafting a postnup to document that it is solely yours.

The bolded is so critical. This is the equivalent of asking your partner to pay your way through medical school and residency, and then asking for a postnup as soon as your loans are paid off.

Agree!!! My husband is in a start up now and he works long hours, misses school functions, and travels a lot more. It's been a long 3 years!

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Sure, if you want to ensure that those assets are protected and solely yours should you ever divorce. That assumes your spouse would agree to sign a postnup, though. For most families we know where one partner works at a startup, there has been a "cost" to the other partner in the form of having to have flexibility in work schedules, reduced hours, etc. to cover home and childcare responsibilities such that the spouse would probably not agree that the money earned belonged solely to the spouse who was at the company. If that has not been your experience, your spouse might be more likely to agree that he/she played no role in your earning that money, and might be okay drafting a postnup to document that it is solely yours.

The bolded is so critical. This is the equivalent of asking your partner to pay your way through medical school and residency, and then asking for a postnup as soon as your loans are paid off.

Agree!!! My husband is in a start up now and he works long hours, misses school functions, and travels a lot more. It's been a long 3 years!

Maybe your husband is the OP.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Sure, if you want to ensure that those assets are protected and solely yours should you ever divorce. That assumes your spouse would agree to sign a postnup, though. For most families we know where one partner works at a startup, there has been a "cost" to the other partner in the form of having to have flexibility in work schedules, reduced hours, etc. to cover home and childcare responsibilities such that the spouse would probably not agree that the money earned belonged solely to the spouse who was at the company. If that has not been your experience, your spouse might be more likely to agree that he/she played no role in your earning that money, and might be okay drafting a postnup to document that it is solely yours.

The bolded is so critical. This is the equivalent of asking your partner to pay your way through medical school and residency, and then asking for a postnup as soon as your loans are paid off.

Agree!!! My husband is in a start up now and he works long hours, misses school functions, and travels a lot more. It's been a long 3 years!

Maybe your husband is the OP.

In that case.. no hubby, you can't have one

[Anonymous]

Anonymous wrote:Personally, I wouldn't worry about my spouse/divorce, but I would probably put some safeguards in place for my children. I've read too many stories about the widowed spouse remarrying and leaving everything to the new spouse so the children get nothing.

That's why people have irrevocable trusts to insure that this doesn't happen.

[Anonymous]

Anonymous wrote:Personally, I wouldn't worry about my spouse/divorce, but I would probably put some safeguards in place for my children. I've read too many stories about the widowed spouse remarrying and leaving everything to the new spouse so the children get nothing.

That's why people have irrevocable trusts to insure that this doesn't happen.

[Anonymous]

If my DH demanded a postnup i'd ask him "which smaller half would you like?"

[Anonymous]

DH works in finance and received stock in the millions. No post nup, and not something that I've heard about in our circle. As for the kids we set aside money for their education but our trusts are revocable. If I were ever widowed though, I'd sign a pre-nup to protect those assets for my kids before remarrying.

[Anonymous]

Anonymous wrote:If my DH demanded a postnup i'd ask him "which smaller half would you like?"

Yeah. We have a happy marriage now (like sublimely happy) but starting postnup conversations would be a step toward actually needing that postnup.

And anyway why would I agree to give anything up I wouldn't otherwise get in a divorce?!

[Anonymous]

Anonymous wrote:Sure, if you want to ensure that those assets are protected and solely yours should you ever divorce. That assumes your spouse would agree to sign a postnup, though. For most families we know where one partner works at a startup, there has been a "cost" to the other partner in the form of having to have flexibility in work schedules, reduced hours, etc. to cover home and childcare responsibilities such that the spouse would probably not agree that the money earned belonged solely to the spouse who was at the company. If that has not been your experience, your spouse might be more likely to agree that he/she played no role in your earning that money, and might be okay drafting a postnup to document that it is solely yours.

+1 to this--pre-nups are intended to protect assets you bring into the marriage, not assets you earn during the marriage. And it's not clear what leverage you would have to get your spouse to sign. A contract requires consideration, after all. What's in it for your spouse?--you're already married, after all.

[Anonymous]

I just wanted to say congrats OP !

[Anonymous]

LOL - don't even think about it

[Anonymous]

OP here, everyone is echoing my feelings so I’m comfortable I’m not missing something.

FWIW I’m a woman and the person asking the spouse to sign a postnuptial is also a woman. She got on a whole bend about protecting herself which is important as a woman IMO and is why I began to question my confidence that she’s a little crazy/ not in a great marriage maybe. I don’t feel personally that I need to protect myself.

[Anonymous]

Anonymous wrote:OP here, everyone is echoing my feelings so I’m comfortable I’m not missing something.

FWIW I’m a woman and the person asking the spouse to sign a postnuptial is also a woman. She got on a whole bend about protecting herself which is important as a woman IMO and is why I began to question my confidence that she’s a little crazy/ not in a great marriage maybe. I don’t feel personally that I need to protect myself.

I think you missed a huge part of the point. This isn’t so much about protecting yourself but screwing your spouse. He is entitled to a share, likely half, if you divorce. This would be marital. You’d be trying to take that from him. It’s the same as if he asked you to sign a paper waiving all of his retirement or the equity in the house.

[Anonymous]

Anonymous wrote:Personally, I wouldn't worry about my spouse/divorce, but I would probably put some safeguards in place for my children. I've read too many stories about the widowed spouse remarrying and leaving everything to the new spouse so the children get nothing.

+1