Do I need a prenup if I am poor?

[Anonymous]

Fiance and I both have no assets and are bringing very little financially into the marriage. We do not feel that we need a prenup.

What am I missing?

[Anonymous]

Nothing. You don't need a prenup. Everything you earn while married will be joint.

[Anonymous]

I don't think anyone needs a prenup unless there's significant family finances that have to be protected.

[Anonymous]

If either of you have children from a prior relationship, it might be worth it. But most people don't need them.

[Anonymous]

Only would if you two plan on one parent being a SAHP for an extended period. Otherwise, without assets, you are marrying as virtual equals and will hopefully stay in the marriage, or you agree in advance to part as equals.

We had a trust on my side and each owned homes etc so a trust was a must for us.

[Anonymous]

Chris Rock's opinion on prenups:

https://www.youtube.com/watch?v=Rm_DDttubQs

[Anonymous]

Depends on how you're planning to structure finances. If you're doing the "everything joint" method then no, you probably don't need a prenupt. If you're doing some version of separate finances then you should do a prenupt identifying those separate accounts as separate property.

Even if you're doing everything joint, it may be worthwhile to do a really inexpensive prenupt stating your intention to split all assets 50/50 and include a fee shifting provision against the party challenging that provision. Think of it as a $500 insurance policy.

[Anonymous]

Probably not, but depending on how the next several years go -- you may want a post-nup before you decide to become a SAHM, move cross-country to pursue his career, etc.

[Anonymous]

Could the prenup include a life insurance guarantee or obligation, with her (and forever her) as beneficiary?

We did this in our divorce agreement, so very different circumstance and the children were the beneficiaries. Still..?

Are there any other protections that can be placed into a prenup that will either aid in a divorce or would render it almost moot, with all the major issues already agreed upon? I've heard of cheating clauses and penalties, guaranteed alimony, etc.

I mean, OP's looking for advice. Why not put the "in case of SAHM, DW receives X until children reach majority" or she'll get part of his SS or pension, regardless of remarriage?

There's got to be something. Right?

[Anonymous]

Anonymous wrote:Only would if you two plan on one parent being a SAHP for an extended period. Otherwise, without assets, you are marrying as virtual equals and will hopefully stay in the marriage, or you agree in advance to part as equals.

We had a trust on my side and each owned homes etc so a trust was a must for us.

DW and I have everything joint, including a reasonably large inheritance from my side of the family, and she will have been a SAHM for two years before she goes back to work. I don't have a problem with the idea of pooling all our assets; it's not like I did anything to earn the inheritance, other than be lucky in my choice of which family I was born into, so if we split up for some reason, I don't know why I should keep 100 percent of it.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Only would if you two plan on one parent being a SAHP for an extended period. Otherwise, without assets, you are marrying as virtual equals and will hopefully stay in the marriage, or you agree in advance to part as equals.

We had a trust on my side and each owned homes etc so a trust was a must for us.

DW and I have everything joint, including a reasonably large inheritance from my side of the family, and she will have been a SAHM for two years before she goes back to work. I don't have a problem with the idea of pooling all our assets; it's not like I did anything to earn the inheritance, other than be lucky in my choice of which family I was born into, so if we split up for some reason, I don't know why I should keep 100 percent of it.

The people that did earn the inheritance might feel differently and may have hoped it would be passed on to your children. The primary concern is that if you guys divorce and she has children with someone else and your family's inheritance gets split outside of the family.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Only would if you two plan on one parent being a SAHP for an extended period. Otherwise, without assets, you are marrying as virtual equals and will hopefully stay in the marriage, or you agree in advance to part as equals.

We had a trust on my side and each owned homes etc so a trust was a must for us.

DW and I have everything joint, including a reasonably large inheritance from my side of the family, and she will have been a SAHM for two years before she goes back to work. I don't have a problem with the idea of pooling all our assets; it's not like I did anything to earn the inheritance, other than be lucky in my choice of which family I was born into, so if we split up for some reason, I don't know why I should keep 100 percent of it.

The people that did earn the inheritance might feel differently and may have hoped it would be passed on to your children. The primary concern is that if you guys divorce and she has children with someone else and your family's inheritance gets split outside of the family.

Well, if it comes to that for some reason, they won't know anyway.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Only would if you two plan on one parent being a SAHP for an extended period. Otherwise, without assets, you are marrying as virtual equals and will hopefully stay in the marriage, or you agree in advance to part as equals.

We had a trust on my side and each owned homes etc so a trust was a must for us.

DW and I have everything joint, including a reasonably large inheritance from my side of the family, and she will have been a SAHM for two years before she goes back to work. I don't have a problem with the idea of pooling all our assets; it's not like I did anything to earn the inheritance, other than be lucky in my choice of which family I was born into, so if we split up for some reason, I don't know why I should keep 100 percent of it.

The people that did earn the inheritance might feel differently and may have hoped it would be passed on to your children. The primary concern is that if you guys divorce and she has children with someone else and your family's inheritance gets split outside of the family.

Well, if it comes to that for some reason, they won't know anyway.

I like your outlook.

I own the land my family (uncle and cousin) run a cattle business (that I am not a part of) on. That is the only thing in my prenup - I do not have to divide up my land with DH if we divorce. We did that to protect my family's business interests. Everything else that we come into throughout the marriage is fair to be split.

[Anonymous]

Get a prenup now so you won't need one later.

A friend married poor, they both had successful careers, now it's 30 years later and hubby is starting to have a wandering eye.... but he'd be SO SOL under the prenup. Kid is protected too with college and life insurance obligations and other restrictions.

Highly, highly recommend.

[Anonymous]

Anonymous wrote:Get a prenup now so you won't need one later.

A friend married poor, they both had successful careers, now it's 30 years later and hubby is starting to have a wandering eye.... but he'd be SO SOL under the prenup. Kid is protected too with college and life insurance obligations and other restrictions.

Highly, highly recommend.

This is kind of my situation except I've only been married six years. Husband is basically a bum, but is now scrambng two get new freelance gigs. I'm not sure if he's buying because he senses that I've talked to a divorce lawyer) or if he's really serious about working.

Either way the only way I'd be willing to see if he's serious is if he signed a postnup. Is there such a thing and is it recognized?