Reply to Prenup question -- minimal assets?

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[quote=Anonymous][quote=Anonymous]Does he anticipate to make more money than you after school?

In my opinion, 1 million plus would be my threshold to consider a prenup, or half million if you didn't work or if you were bad with money.[/quote]

He makes more than me now (a little under 2x my salary) and his salary will increase with his graduate degree(s). Unless I drastically change careers he will likely always make more money than me. I'd be pretty surprised if he raked in $1M a year, but I guess it's not outside the realm of possibility some day.

[quote]He had $70k to put toward a downpayment but you're helping him pay for grad school? I think if you're going to do a pre-nup, there needs to be come kind of off-set for the financial support you've given him pre-marriage that let him keep his money tied up in a house without taking on additional debt.[/quote]

Our money already is pooled, so in my mind, I consider that supporting him in grad school, because it's OUR money that's going toward his tuition, save for some stipends from his employer. He makes decent money but I think he would struggle to pay a $4k mortgage + grad school + all other financial obligations on his own. He might disagree because 1) he makes more money and 2) he's much better with money, but that's how I look at it. Am I incorrect?

[quote]Yes, you need a lawyer to do this. First, there are a bunch of legal formalities that need to be observed for a pre-nup to be legally binding. Second, there are a bunch of factors to consider in how his share of the house is treated if you divorce. If his $70k represents 10% of the current value of the home, does that mean if you divorce he gets 10% of the value then, representing the appreciation on his share? Or does he get just his $70k back plus an amount of appreciation equivalent to what he would have earned if he'd put it in an index fund. If the house has lost value at the time of divorce, does he still get his full $70k, or a lesser amount?

Further, if you'd be giving up rights to something you'd otherwise be entitled in a divorce, what protections will the pre-nup include to make sure you'd not getting the short end of things later? [/quote]

These are really good points, thank you.[/quote]

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