What are they?
Nothing can kill romance faster than
the word prenup. But with about one in three of all first marriages
ending in divorce, and 50 percent of second or third ones hitting
the skids, a prenup is smart financial planning, legal and financial
"Think of it as a business arrangement
or as an insurance policy to help remove some of the emotion that's
naturally involved," says Nancy Dunnan, a New York City financial
adviser and author. "Marriage is not just an emotional and
physical union -- it's also a financial union. A prenup and the
discussions that go with it can help ensure the financial well-being
of the marriage."
A prenuptial accord is a contract between
two people about to wed that spells out how assets will be distributed
in the event of divorce or death. Such agreements have existed for
thousands of years in some form or another, particularly in European
and Far Eastern cultures, where royal families have always made
provisions for protecting their wealth.
--Posted: June 15, 1999