The Necessity Of The Prenuptial Agreement

The Necessity Of The Prenuptial Agreement
By Shawn Mason

Nothing can kill romance faster than when couples mention the words prenuptial agreement. We hear it mentioned so very often among the rich and famous. In fact, how many people have signed prenups?

There has been an "explosion" of prenups in recent years. Law firms are estimating that about 10 percent of first marriages and 20 percent of second marriages now have a prenup attached. So to speak, lessons learned.

Statistics show that one in three of all first marriages end up in a divorce. And, 50 percent of second or third ones hits the skids.

By 2020, more than half of all marriages will have such an agreement, as more and more women are climbing up the economic and financial ladder of success.

Big cities like New York and Los Angeles have more prenups because there are more rich people around with stuff to protect. But people who have inheritances, no matter where they live, are signing up, too.

Many legal and financial experts say a prenup is smart financial planning. There are many school of thoughts like:

"Think of it as a business arrangement or as an insurance policy to help remove some of the emotion that’s naturally involved"

"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 entered into by two people prior to marriage or civil union that spells out how assets will be distributed in the event of divorce or death.

Therefore, you may want to seriously 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

It is no easy way to approach this touchy subject. If you do think a prenup is necessary:

1. Do it as early as possible.
2. Talk it over before the engagement.
3. Honestly discuss the matter.

If you decide to have a prenup agreement, be really candid about why you want the agreement. It’s not very romantic, but you have to appreciate what the other party’s concerns are.

Shawn Mason shares what he knows about prenuptial agreement. Visit his site article at http://www.squidoo.com/prenuptialagreementform

Question: Where can I find and start downloading forms on prenup agreement?
Answer: Visit this website through this link: http://www.squidoo.com/prenuptialagreementform

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