smart spending

Why engaged couples should sign a prenup

Not just for celebrities
Next
Slide 1 of 8
Not just for celebrities

Although prenuptial agreements are often associated with celebrity couples -- and their headline-generating divorces -- they're not just for boldface names.

Any couple who brings personal or business assets to the marriage can benefit from a prenup. The most basic of these contracts lists an inventory of premarital assets that in the event of a divorce will remain the property of their original owner.

"Prenups are good because they preserve the expectations of the parties and prevent surprises in a divorce trial," says attorney Bob Nachshin, a partner in family law firm Nachshin & Langlois LLP in Los Angeles, and co-author of "I Do, You Do ... But Just Sign Here: A Quick and Easy Guide to Cohabitation, Prenuptial and Postnuptial Agreements." "In my 34 years of practice, I've never seen a prenuptial agreement that wasn't enforced by the court."

The agreements can also specify that future income from a business or additional assets accrued through inheritance are not to be shared with your spouse should the marriage end.

"You can basically do anything you want in a prenup, except you can't limit child support, and you can't limit child custody and visitation," says Nachshin.


Next
Slide 1 of 8

 

 

advertisement

Show Bankrate's community sharing policy
          Connect with us
advertisement
FRUGAL NEWSLETTER

Discover new ways to cut costs and save more every day. Reduce your spending, not life’s pleasures. Delivered weekly.

advertisement
Partner Center
advertisement

Connect with us