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Started By
Message
re: Premarriage Advice(asset protection)
Posted on 12/29/16 at 7:30 am to partywiththelombardi
Posted on 12/29/16 at 7:30 am to partywiththelombardi
My words of advice:
-A prenup isn't planning for divorce, in many states it's just smart to look after yourself. I've been married and divorced, and although I looked at marriage as permanent, it requires two people to maintain that mentality.
-Prenups are weak in community property states. From what I could tell they just establish the assets at the time of marriage to make determining "pre-marital assets" easier. Since we are a community property state, they don't hold up well with anything regarding the division of assets accumulated during marriage.
-A prenup isn't planning for divorce, in many states it's just smart to look after yourself. I've been married and divorced, and although I looked at marriage as permanent, it requires two people to maintain that mentality.
-Prenups are weak in community property states. From what I could tell they just establish the assets at the time of marriage to make determining "pre-marital assets" easier. Since we are a community property state, they don't hold up well with anything regarding the division of assets accumulated during marriage.
This post was edited on 12/29/16 at 7:32 am
Posted on 12/29/16 at 7:32 am to TigahJay
quote:
for those of you with prenups, how did the wife initially react to the proposal?
My wife and I (second marriage for both) have a prenup and it wasn't a point of contention at all. Both of us have considerable family assets, mostly in the form of real estate so it just made sense to protect those assets from unforeseen disaster. Neither of us anticipate encountering problems we can't overcome but there are tons of people who thought likewise and ended up divorced, including both of us in our first marriages. My attorney drew up the prenup, her lawyer reviewed it and suggested a few minor changes and we were set. It cost a few hundred dollars. Surely wish I'd have had one before marrying the first time. Probably would could've saved some of the $100k+ I spent on legal fees keeping my ex from taking it all. There is nothing better than a good woman. And nothing worse than a bad one.
Posted on 12/29/16 at 7:33 am to partywiththelombardi
quote:
My SO unlike myself has very valuable assets that will be passed to her through inheritance. I do not want these assets. Her family has worked very hard to provide them.
Remember you said this when you find out she's taking that BBC up her "assets" in about 10 years.
I was first going to give you the old "don't get married" advice but you sound so much like a bitch that you really need a woman to run your life.
This post was edited on 12/29/16 at 7:35 am
Posted on 12/29/16 at 7:35 am to soccerfüt
quote:wont do that. I am Louisiana based just like most of the posters and readers on this site. My word vomit on a computer is more than enough to wake up to and not something worth risking actually effecting my life.
ITEM #1 Pics of gf
quote:fair take. However your examples of people who I am not is the very reason I started this thread. Those are men who dont need prenups they can take the hit and still live within .01% of the top population.
ITEM #2 Prenup. Don't do it.
Posted on 12/29/16 at 7:38 am to Jim Rockford
quote:
I'm not a lawyer but IIRC inheritances are separate property in Louisiana.
This is generally correct but there are loopholes a savvy divorce lawyer can use. You may keep the property but spend thousands in legal fees to do so. A prenup closes those loopholes if done correctly.
Posted on 12/29/16 at 7:40 am to partywiththelombardi
Why even get married if you're so worried about it not working? Already seems setup for failure
Posted on 12/29/16 at 7:40 am to partywiththelombardi
My husband and I have a separate property agreement. It keeps all assets and debts, pre and post marriage, separate unless you decide to take on anything jointly. It works for us. We share household expenses and we never argue about money.
Posted on 12/29/16 at 7:41 am to partywiththelombardi
Seriously, you sound like a douche fricking idiot.
Don't reproduce.
Don't reproduce.
Posted on 12/29/16 at 7:41 am to Bags of Milk
quote:
Depending on how you set up the prenup up and how long the marriage lasts/circumstances of the divorce, a competent (ie the lawyer she would have the funds to hire) probably can make a prenup fairly ineffective.
This is bullshite. A properly constructed prenup that is reviewed by attorneys for both parties and not signed under fraud or duress is pretty ironclad.
Posted on 12/29/16 at 7:43 am to fleurdelis
quote:
My husband and I have a separate property agreement. It keeps all assets and debts, pre and post marriage, separate unless you decide to take on anything jointly. It works for us. We share household expenses and we never argue about money.
this is actually something along the lines of what I was interested in. She has mentioned similar interests in the past as well. How do you go about drawing something like that up?
Posted on 12/29/16 at 7:51 am to partywiththelombardi
This whole subject is, well, subjective.
That being understood, different potential marriage partners will react in differing ways to the entire process of talking about, negotiating, signing and (to some folks, the most difficult part) living EVERY day with the knowledge that one's spouse has prepared a fiscal and legal defense for the day when the spouse breaks bad and wants to get out of the marriage. (61 word sentence right there folks)
Some folks are fine with it.
Others, not so much. Without knowing your gf (hence the pics request!) no one here can give you specific advice with any degree of certainty.
Caveat: Second (or more
) marriages that are the results of divorce are less prone to these emotional constraints.
That being understood, different potential marriage partners will react in differing ways to the entire process of talking about, negotiating, signing and (to some folks, the most difficult part) living EVERY day with the knowledge that one's spouse has prepared a fiscal and legal defense for the day when the spouse breaks bad and wants to get out of the marriage. (61 word sentence right there folks)
Some folks are fine with it.
Others, not so much. Without knowing your gf (hence the pics request!) no one here can give you specific advice with any degree of certainty.
Caveat: Second (or more
This post was edited on 12/29/16 at 7:52 am
Posted on 12/29/16 at 7:51 am to partywiththelombardi
Very simple. My aunt is a notary. She drew up the agreement and we had a lawyer friend review it. She used a pretty basic agreement and we added a few things to tailor it to our needs. We both signed it and my aunt notarized it and I brought it to the clerk of court and filed it. I'm sure any lawyer can draw it up for you for a reasonable fee.
Posted on 12/29/16 at 7:54 am to soccerfüt
quote:
You're not a Rockefeller, she's not Bill Gates' kid.
It's precisely the people who aren't mega rich who benefit the most from a prenup. The super rich have so many intricate trusts and offshore accounts set up they can weather the storm. It's your small business owners who can be ruined by a failed marriage. Believe it or not, there's a big difference in Rockefeller rich and "small town rich" in more ways that the number of dollars in one's bank account.
Posted on 12/29/16 at 8:02 am to samson73103
quote:And attorneys.
It's precisely the people who aren't mega rich who benefit the most from a prenup.
I'm at Year 32+ of my contract, I have no personal experience in the process but have seen issues arise both pro and con prenup from folks around me.
Again, it's subjective and specific to the individuals and jurisdiction.
This post was edited on 12/29/16 at 8:04 am
Posted on 12/29/16 at 8:06 am to partywiththelombardi
You mentioned she is in grad school. When you both get into your careers, will you be making similar money? If not, what's going to be the difference between the two incomes?
Posted on 12/29/16 at 8:06 am to soccerfüt
I get that and I was not coming here hoping all of you would help me solve my problems.
I just wanted some general advice and to spit ball prior experiences from random people of different walks of life that have more/different experience than me.
Some of you have been very helpful and I appreciate everyone who has taken the time to entertain my post, questions, concerns even if poorly worded. (Mule Milking
)
I just wanted some general advice and to spit ball prior experiences from random people of different walks of life that have more/different experience than me.
Some of you have been very helpful and I appreciate everyone who has taken the time to entertain my post, questions, concerns even if poorly worded. (Mule Milking
Posted on 12/29/16 at 8:07 am to fleurdelis
quote:
My husband
Pics?
Wait... I did that wrong.
Posted on 12/29/16 at 8:08 am to ehidal1
quote:Not when she has the assets, hoss. I'd bet her momma and daddy already have a draft pre-nump for her. I wouldn't worry about it if I were you. Enjoy life and congrats. As my old friend says, "You can marry more in 5 minutes than you can make in a lifetime."
Talking about this to most women will offend them and it comes across very negative.
Posted on 12/29/16 at 8:09 am to partywiththelombardi
I bet you have a beard and own a lot of plaid.
Posted on 12/29/16 at 8:16 am to partywiththelombardi
I thought inheritance was excluded from divorces. I stand to possibly inherit a sizable sum and was working under this assumption.
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