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#21
04-23-2007, 12:53 PM
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Re: Pre-Nup: Terrible Idea?
[ QUOTE ]
Ah yeah, let's pretend you're Michael Streehan here. Or someone with significant net worth. [/ QUOTE ] Prenups aren't just for people with significant net worth. In fact, it may be MORE important for people without significant net worth, because the property they DO have is that much more valuable to them. E.g., if Melinda Gates gets half of Bill Gates's fortune, it'll be a huge hit in theory. But in reality, $20B is still a lot of money. OTOH, if you're a middle class family with only three significant assets (a house and two cars), losing the house and a car seriously damages you. 
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#24
04-23-2007, 01:26 PM
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Re: Pre-Nup: Terrible Idea?
Not a terrible idea but they aren't an iron-clad defense like people think they are.
My grandfather passed last month and after my grandmother passed 10 years ago, he re-married with a pre-nup. It was created by a lawyer and is pretty much worthless because of state laws and conditions that must be met for a pre-nup to be valid. If you're going to get one I suggest you find a lawyer that has written a pre-nup that has successfully held up in court.
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#25
04-23-2007, 03:27 PM
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Re: Pre-Nup: Terrible Idea?
[ QUOTE ]
[ QUOTE ] Ah yeah, let's pretend you're Michael Streehan here. Or someone with significant net worth. [/ QUOTE ] Prenups aren't just for people with significant net worth. In fact, it may be MORE important for people without significant net worth, because the property they DO have is that much more valuable to them. E.g., if Melinda Gates gets half of Bill Gates's fortune, it'll be a huge hit in theory. But in reality, $20B is still a lot of money. OTOH, if you're a middle class family with only three significant assets (a house and two cars), losing the house and a car seriously damages you. [/ QUOTE ] I dont believe a car is an asset.
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#27
04-23-2007, 03:56 PM
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Re: Pre-Nup: Terrible Idea?
[ QUOTE ]
[ QUOTE ] [ QUOTE ] Ah yeah, let's pretend you're Michael Streehan here. Or someone with significant net worth. [/ QUOTE ] Prenups aren't just for people with significant net worth. In fact, it may be MORE important for people without significant net worth, because the property they DO have is that much more valuable to them. E.g., if Melinda Gates gets half of Bill Gates's fortune, it'll be a huge hit in theory. But in reality, $20B is still a lot of money. OTOH, if you're a middle class family with only three significant assets (a house and two cars), losing the house and a car seriously damages you. [/ QUOTE ] I dont believe a car is an asset. [/ QUOTE ] Can I have your car then?
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#28
04-23-2007, 04:07 PM
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Re: Pre-Nup: Terrible Idea?
Since cars begin their depreciation in value from the very second you drive off the lot and continue to depreciate is the reason why i say they are not assets.
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#30
04-23-2007, 04:13 PM
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Re: Pre-Nup: Terrible Idea?
[ QUOTE ]
depends on your net worth [img]/images/graemlins/smile.gif[/img] [/ QUOTE ] VERY WRONG The answer mostly likely should be depends on your future net worth. Remember, what you owned before the marriage is not in jeopardy. its what you gain during the course of your marriage. if you are planning on staying married for at least 5-10 years, even if you dont have anything now, you will have a lot to lose should you get divorced in 10 years. Not getting a prenup is like going out driving without an insurance.
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