So you're toying with the idea of getting married? Maybe somebody has mentioned a Prenuptial Agreement (Prenupt) or maybe you've never thought of it before. Regardless, just as you're an educated consumer you might also want to take a look at the advantages of having a prenuptual agreement before leaping into marriage.
The truth of the matter is that asking your fiancee' to sign a Prenupt is not the most romantic thing you will ever do. Below are a few tips on planning a marriage with all the love you have for that other person.
Understand what it is and what it is not.
Some couples forgo the Prenupt conversation for fear that their partner may suspect that they have reservations about the solidness of their relationship. The best thing about a Prenupt is that is does exactly what is suppose to do, it either breaks you up before you commit financial suicide or it makes your relationship even stronger. Ironically, and contrary to long held common belief, according to family surveys, men and women sign Prenupts at an evenly low 16% rate across the table. Increditably, women have a higher percentage of initiating a Prenupt agreement than men.
Know who it applies to.
Whatever the gender, a Prenupt is especially vital to young adults starting out in their respective careers. In New York a spouse may be entitled to a significant percentage of the value of a professional license earned during the marriage or a master degree earned during the marriage.
Basically, if your spouse supported you--even by giving you gas money, for example--during your days as a law school, medical school or business school student, then come divorce time you essentially may be working your entire life for your former spouse.
Why? The reason for this is simple but the emotions are a lot more complicated. Because the math formula used to calculate the value of the license contemplates the value amount you will make during your entire working life, the law says that your spouse can possibly collect money decades after the divorce.
It's true: the average couples who walk down the aisle don't want to think about potential future financial disagreements. In fact, they don't even consider the future need of having to deal with a divorce and all of its headaches. Regardless of your confidence in the relationship though, the US national divorce statistics give a more realistic, sobering view of marriage and its potential disadvantages.
Take a look at the statistics and be honest with yourself.
According to the United States Census Bureau, more than fifty percent (50%) of all marriages end in divorce. In 2002 there were 136,684 marriages in New York, and in that same year there were 65,428 divorces. New York is in part with the rest of the country where the divorce rate is at 52 percent. Those numbers are especially hard to accept if you were a couple contemplating any kind of legal union.
Understand a Prenupts true importance.
So how important is a Prenupt in light of these awful statistics? Imagine having to choose between keeping the family's business or having your former spouse for a business partner!
Who's it for?
Some people may suggest that a Prenupt is only for those wealthy forks. This could not be any further from the truth a Prenupt is for everyone. I always advise my clients to consider a Prenupt whenever they are considering marriage. A Prenupt is as essential to a marriage as a wedding ring nobody should get married without one.
Why is it important?
The average working class couple owning no property or significant assets should also sign a Prenupt, because chances are they will inherit property or other during their marriage.
This could be you. For example, remember the classic example illustrated by Colombian-born Juan Rodr?guez, who was the sole winner of the New York's lottery multi-million dollar jackpot? Rodr?guez, had arrived in the United States in 1982 and worked as a parking lot attendant for most of his life. Even though he had been separated from his wife, he never tried to divorce her for lack of money. Mr. Rodriguez did not have a Prenupt. His estranged wife who was living apart from him at that time, received nearly half of his winnings in a divorce that was filed days after he won the lottery. Had a prenuptial agreement been in place, she never would have gotten a cent.
Save yourself the headaches.
It's unfortunate that couples sometimes overlook this very important agreement before they commit to a lifetime financial partnership.
A Prenuptial agreement is very much like a road map: it guides you along the ride of marriage. Think about it this way: just like going on a long cross-country trip, requires a good map to guide you, so to does marriage require a Prenupt agreement.
Most people find they need something to help them understand as much as possible the intentions and goals and emotional needs of the other person BEFORE they commit their life in marriage. With a Prenupt, once you encounter marital problems you'll always have the written agreement as a reference to put you both back on track.
Odalis M. Encarnacion, is a Family Lawyer in private practice in New York City. For more information you may call him @ (718) 651-5283 or visit him on the web: http://www.encarnacionlaw.com or contact him via email: http://www.encarnacionlaw.com
on demand house cleaning Glenview ..When two people - destined for each other, come together,... Read More
Deik and Kim, remember that marriage is a COVENANT relationship.... Read More
Somewhere when you least expected, you find the person who... Read More
There's no one simple answer to the question that I'm... Read More
Las Vegas wedding receptions are where people tend to go... Read More
Diamond hunting can be quite traumatic for the uninitiated. It... Read More
Wedding dresses are literally the icing on the cake on... Read More
You've had friends to your home for dinner. Maybe you've... Read More
Honeymoon is the most wonderful time of every couple's life.... Read More
Most girls know by the age of 12 what kind... Read More
As we hear the music begin to play the Bridal... Read More
So, you've just got engaged.Whether you are a man or... Read More
Let's face it, not many of us have the kind... Read More
"What am I supposed to have in my invitation?" This... Read More
Want to manage your wedding guests with style and ease?... Read More
In my opinion, these things matter...1. Valuing commitment over instant... Read More
Here follows suggestions and tips that will help you determine... Read More
"What in the world could they have been thinking?"Definitely words... Read More
OK, so you have your heart set on the top... Read More
Every bride would agree that her wedding dress should be... Read More
Not so many years ago, the proposition of a wedding... Read More
Choosing a wedding anniversary gift that wows your husband or... Read More
When people plan to marry, they expect to find in... Read More
There's an important question that you need to ask the... Read More
The tradition of hosting a bridal shower for the bride... Read More
house cleaning company Bannockburn ..When it comes to your wedding services, nobody wants to... Read More
Every bride wants to look perfect on her wedding day.... Read More
When two people - destined for each other, come together,... Read More
"The meeting of two personalities is like the contact of... Read More
He ? or she ? asked, and you answered in... Read More
No matter how well you plan all the aspects of... Read More
Ask someone why they had, or are having an affair... Read More
Even though it's a great tradition with a long history,... Read More
The kids are yelling, the dog is barking, and you... Read More
It's a fact, however odd it seems, that some brides... Read More
Basically, there are three wedding bouquet styles. The cascade, round... Read More
Weddings are made in heaven, they say, but they have... Read More
There are many answers to this question, it all depends... Read More
It's your day! The most special day of your life,... Read More
There are many things to remember in preparation for your... Read More
He's proposed, and most likely you're flashing your new engagement... Read More
Ben* has been happily married for 19 years. He recently... Read More
Planning a second wedding? Prevent favorite guests comparing your second... Read More
Monograms are a huge trend in weddings, to the point... Read More
Rose petals will add luxury to a wedding day or... Read More
The wedding favor box carries on the timeless tradition established... Read More
"Presence is more than just being there," states Malcolm S.Forbes.... Read More
From purchasing the garter to choosing the photographer, brides (and... Read More
You hear them at champagne-flowing parties. You hear them in... Read More
Wedding planning is a difficult task for everyone. Unless you... Read More
Marriage & Wedding |