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
MORTGAGE HOME EQUITY AUTO CDs CREDIT CARDS
Product Rate Change Last week
30 year fixed 4.08%  0.16 4.24%
15 year fixed 3.19%  0.04 3.23%
5/1 ARM 3.36%  0.10 3.46%
 
View Rates in your area Next
Product Rate Change Last week
30K FICO-based HELOC 4.36% --0.00 4.36%
50K FICO-based HELOC 4.06% --0.00 4.06%
100K FICO-based HELOC 3.91% --0.00 3.91%
 
View Rates in your area Next
Product Rate Change Last week
60 month used car loan 2.79% --0.00 2.79%
48 month used car loan 2.98% --0.00 2.98%
60 month new car loan 3.23% --0.00 3.23%
 
View Rates in your area Next
Product Rate Change Last week
1 Year CD 0.94% --0.00 0.94%
2 Year CD 1.13% --0.00 1.13%
5 Year CD 1.76%  0.00 1.76%
 
View Rates in your area Next
Product Rate Change Last week
Balance Transfer Cards 15.77%  0.06 15.71%
Cash Back Cards 16.48%  0.07 16.41%
Low Interest Cards 10.96%  0.10 10.86%
 
Next
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