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Prenuptial agreements:
Not just for the rich

You don't have to be a Rockefeller or Trump to need a premarital agreement. A person who has managed to save $30,000 may be more protective of their little nest egg than someone who has millions.

"Those are sometimes the most jealously guarded assets because it has taken a lot of hard work to accumulate a small amount," says Joseph P. Zwack, an Iowa lawyer and author of a best-selling handbook Premarital Agreements: When, Why and How to Write Them.

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You should consider having a prenup if you fall into any of the following categories:

  • You have assets such as a home, stock or retirement funds
  • Own all or part of a business
  • You may be receiving an inheritance
  • You have children and/or grandchildren from a previous marriage
  • One of you is much wealthier than the other
  • One of you will be supporting the other through college
  • You have loved ones who need to be taken care of, such as elderly parents
  • You have or are pursuing a degree or license in a potentially lucrative profession such as medicine
  • You could see a big increase in income because your business is taking off, or that garage band you play in has just gotten a contract with a big record company.
What are prenups? Approaching the subject

--Posted: June 15, 1999

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See Also
What's a prenup?
Who should have one?
Approaching the subject
Signs of a valid prenup
Follow proper legal procedures
Keeping the prenup up to date
Legal benefits of having a prenup
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