Prenup – Not Only for the Rich & Famous
The term “prenup” is not all that uncommon a term but has generally been put to limited use except for the rich and famous aside from the Schwarzenegger / Shriver camp which is tough to understand given their considerable assets, children, and public careers. The idea that a prenup is not necessary for “common” working folk like you and I who have worked hard, have retirement savings, children and aging parents, a prenup is most certainly a wise choice. Given that half of the marriages today unfortunately end in divorce, why put yourself through additional pain, stress and turmoil debating who should get what in the midst of the emotional distress of a divorce?
The definition of a prenup which I have included for your benefit is a bit outdated in my opinion. Prenups should be considered prior to marriage, but can be changed and updated during the course of the marriage as well as circumstances can change such as the addition of children, responsibility for care for aging parents, unforeseen inheritances, change in income and any other life changing circumstance can be included. A Professional Mediator can assist couples in the development of their Prenup in a caring and amicable environment.
prenuptial agreement (antenuptial agreement) n. a written contract between two people who are about to marry, setting out the terms of possession of assets, treatment of future earnings, control of the property of each, and potential division if the marriage is later dissolved. These agreements are fairly common if either or both parties have substantial assets, children from a prior marriage, potential inheritances, high incomes, or have been “taken” by a prior spouse.