| |
| |
|
Marriage & Wedding Information |
|
Prenuptial Agreements: The Deal Breaker?
So you're toying with the idea of getting married? Maybe somebody has mentioned a Prenuptial Agreement (Prenupt) or maybe you've never thought of it before. Regardless, just as you're an educated consumer you might also want to take a look at the advantages of having a prenuptual agreement before leaping into marriage. The truth of the matter is that asking your fiancee' to sign a Prenupt is not the most romantic thing you will ever do. Below are a few tips on planning a marriage with all the love you have for that other person. Understand what it is and what it is not. Some couples forgo the Prenupt conversation for fear that their partner may suspect that they have reservations about the solidness of their relationship. The best thing about a Prenupt is that is does exactly what is suppose to do, it either breaks you up before you commit financial suicide or it makes your relationship even stronger. Ironically, and contrary to long held common belief, according to family surveys, men and women sign Prenupts at an evenly low 16% rate across the table. Increditably, women have a higher percentage of initiating a Prenupt agreement than men. Know who it applies to. Whatever the gender, a Prenupt is especially vital to young adults starting out in their respective careers. In New York a spouse may be entitled to a significant percentage of the value of a professional license earned during the marriage or a master degree earned during the marriage. Basically, if your spouse supported you--even by giving you gas money, for example--during your days as a law school, medical school or business school student, then come divorce time you essentially may be working your entire life for your former spouse. Why? The reason for this is simple but the emotions are a lot more complicated. Because the math formula used to calculate the value of the license contemplates the value amount you will make during your entire working life, the law says that your spouse can possibly collect money decades after the divorce. It's true: the average couples who walk down the aisle don't want to think about potential future financial disagreements. In fact, they don't even consider the future need of having to deal with a divorce and all of its headaches. Regardless of your confidence in the relationship though, the US national divorce statistics give a more realistic, sobering view of marriage and its potential disadvantages. Take a look at the statistics and be honest with yourself. According to the United States Census Bureau, more than fifty percent (50%) of all marriages end in divorce. In 2002 there were 136,684 marriages in New York, and in that same year there were 65,428 divorces. New York is in part with the rest of the country where the divorce rate is at 52 percent. Those numbers are especially hard to accept if you were a couple contemplating any kind of legal union. Understand a Prenupts true importance. So how important is a Prenupt in light of these awful statistics? Imagine having to choose between keeping the family's business or having your former spouse for a business partner! Who's it for? Some people may suggest that a Prenupt is only for those wealthy forks. This could not be any further from the truth a Prenupt is for everyone. I always advise my clients to consider a Prenupt whenever they are considering marriage. A Prenupt is as essential to a marriage as a wedding ring nobody should get married without one. Why is it important? The average working class couple owning no property or significant assets should also sign a Prenupt, because chances are they will inherit property or other during their marriage. This could be you. For example, remember the classic example illustrated by Colombian-born Juan Rodríguez, who was the sole winner of the New York's lottery multi-million dollar jackpot? Rodríguez, had arrived in the United States in 1982 and worked as a parking lot attendant for most of his life. Even though he had been separated from his wife, he never tried to divorce her for lack of money. Mr. Rodriguez did not have a Prenupt. His estranged wife who was living apart from him at that time, received nearly half of his winnings in a divorce that was filed days after he won the lottery. Had a prenuptial agreement been in place, she never would have gotten a cent. Save yourself the headaches. It's unfortunate that couples sometimes overlook this very important agreement before they commit to a lifetime financial partnership. A Prenuptial agreement is very much like a road map: it guides you along the ride of marriage. Think about it this way: just like going on a long cross-country trip, requires a good map to guide you, so to does marriage require a Prenupt agreement. Most people find they need something to help them understand as much as possible the intentions and goals and emotional needs of the other person BEFORE they commit their life in marriage. With a Prenupt, once you encounter marital problems you'll always have the written agreement as a reference to put you both back on track. Odalis M. Encarnacion, is a Family Lawyer in private practice in New York City. For more information you may call him @ (718) 651-5283 or visit him on the web: http://www.encarnacionlaw.com or contact him via email: info@encarnacionlaw.com
MORE RESOURCES:
|
|
|
|
RELATED ARTICLES
Cheap Wedding Invitations Every couple has different priorities when it comes to budgeting for their wedding. For some, the dress is a necessary splurge while others focus their money into creating a memorable dining and entertainment experience. The Planning of a Bridal Shower! Planning a bridal shower? Maybe a dear friend or even sister is getting married and you are in charge of planning the bridal shower? Bridal showers are customary and traditional. They aren't all about the bridal shower gifts though! They are a way to welcome new family members and celebrate a new beginning for the couple. Marriage Counseling: How to Keep Jealousy From Destroying Your Marriage Jealousy has often been called the "green-eyed monster," and with good reason. The "monster" is fueled by envy and can over time devour the trust and harmony in a relationship. Traditional Bridal Shower Gifts The tradition of hosting a bridal shower for the bride to be grew out of a desire of the friends and family of the bride to get to know each other better, strengthen the bonds between new friends and offer moral support and assistance with marriage planning for the new brie. The idea of offering bridal shower gifts did not actually surface until some time in the late 19th century. Wedding Tips for Saving Your Sanity and Your Bank Account Overwhelmed is a common feeling a bride-to-be experiences as she begins to delve into the $45 billion a year world of planning a wedding. However there are several ways to deal with the incessant head spinning that can ensue as you begin to contemplate who to invite, what to feed everyone, where to have it, and how in the world you can stay within your budget without requiring a stylish white straight jacket to wear with your Badgley Mischka gown. Living in LOVE : Remembering Why You Married The kids are yelling, the dog is barking, and you just found out that your spouse forgot to do the one thing that you needed them to do today?again! This scenario may sound typical for your family, or your scenario could be worse. Maybe you and your spouse are arguing more and more, and connecting less and less? You may have even asked yourself, "Is this marriage a mistake?". The Second Time - Another White Wedding? That first wedding was a dream, a gorgeous long white wedding dress, a beautiful church, luscious bridesmaids and the groom in tails. Plus all the trimmings and a heavenly reception and a great honeymoon. Ten Beliefs That Can Contribute to an Unhappy Marriage Have you ever wondered why your marriage isn't happier? If so, you're not alone. Numerous spouses are struggling with the same question. Loose Moissanite Stones, A Great Way to Buy Your Moissanite Jewelry Moissanite is fast becoming the new diamonds. The newest jewelry stone on the market, moissanite is fashionable. Unique Beach Wedding Receptions The most unique beach wedding reception ideas are sparked by imagination not tradition.Never mind etiquette, tradition and timelines. Ten Tips for Writing Your Perfect Wedding Vows 1. Start with a nice clean piece of paper (lavender is good, but any kind will work). Choosing Your Wedding Rings One of the most important steps in planning your wedding, is choosing the wedding ring set. Finding the right rings could actually be considered the most critical part of your ceremony actually, because the wedding bands will be worn by the bride and groom for the rest of their lives. Budget Tips For Your Wedding Reception Wedding receptions are expensive affairs and can set you back a pretty penny. However, most brides have their heart set on an all out wedding reception. Choosing a Maui Wedding Photographer You can rest assured that the charm of your Maui wedding will be captured in photos. This is because it is nearly impossible to photograph the island poorly. Wedding Receiving Line Etiquette-Greeting Your Guests with Style Even though it's a great tradition with a long history, some couples choose not to greet their guests in a receiving line fearing that this might take too long. Frank Gregoli, a top New York party planner says realistically, one should allow 30 minutes for every 100 people in the line. The Enigma of Daytime Bachelor Party Activities As most of you know the evening festivities for a bachelor party are already pre-determined. They usually involve some combination of limos, nightclubs, and gentlemen's clubs. Top 5 Wedding Favors and Why WHAT ARE THE TOP FIVE WEDDING FAVORS AND WHY?At most weddings, the bride and groom will offer some type ofsmall memento as a note of appreciation to family and friends,more commonly known as wedding favors. As you will discover inthis article, the type of favors are widely varied but there aresome that are considered better choices than others. To Choose a Wedding Planner or Not to Choose a Wedding Planner When I was the owner of a major wedding facility, I was able to observe the results of more than 300 weddings. I've seen exceptional events that will last forever in the memories of the participants. Choosing a Wedding Date -- When You're Feeling Indecisive He - or she - asked, and you answered in the affirmative! Now's the time to bask in the romance, and enjoy the first phase of your new life together. But soon, you'll need a response for that timeless question: "when's the wedding?"For some couples, it's easy - they know just when they want to tie the knot. Wedding Flower Ideas Your wedding flowers cover all button holes, all the bouquets, the decoration in the church, reception venue, and top table centerpiece if appropriate. So you can see it covers quite a large part of the decoration of the day.
|
| home | site map | contact us |
