Prenap...

Hi all,

As some of you or many have a large number of IPs that you acquired alone or with a partner (husband or wife) you may have thought about how to protect your assets as we all live in a litigious society where people get "robbed" everyday by our legal system.

How many here have made their partners sign prenups prior to getting married or forming any type of union?

I mean if a person has one property to their name, signing prenap may not be as mandotary (although only an idiot would go in blindly into any union) but if you have 2 or more IPs that you worked hard for to maintain and suddenly you come across your "true love" I think its imperative that you protect all your assets as hard as you can. Your partner may love you today, but who knows what they may think of you tomorrow?

I think for many investors, pre nups are an absolute MUST.

I am not married, I do have a GF who I love dearly and care for as best as I can.

Has anyone got any stories or personal experience to share?
 
Is a pre'nap' something you have prior to a proper nap, lol.

I'm sure you mean pre-nup.

No experience in that department, but if I were single and had acquired a decent size portfolio, then I would seriously consider getting some type of agreement in place.

Regards
Marty
 
I believe that 'pre-nupital agreements' (aka, binding financial agreements) are a good idea for alot of people. Personally however, I think that a real commitment to another person is a complete financial committment as well as emotional and physical comittment, so would never sign one or ask anyone else to sign one.

Having said this, there is another thread about 'pre-nup's' floating around somewhere that you should read if you are interested.
 
I believe that 'pre-nupital agreements' (aka, binding financial agreements) are a good idea for alot of people. Personally however, I think that a real commitment to another person is a complete financial committment as well as emotional and pyshical comittment, so would never sign one or ask anyone else to sign one.

Having said this, there is another thread about 'pre-nup's' floating around somewhere that you should read if you are interested.

lol sorry guys... pre NUP :D

Well, I have heard too many stories where a man asks his dad about getting married, his dad says "if you want your fiance to sign pre-nup, maybe you should not get married at all" the son doesn't get his fiance to sign the pre-nup... 10 years later they divorce, she takes his house, splits his other assets down the middle and applies for spousal support... and the man is left to pay. Yet this woman has not lifted a finger to acquire any of the property, she was a house wife who drive around in a ferrari that her husband bought her also.

Dont mean to sound sexist but during the divorce, its usually the man that has to pay up big time.
 
lol sorry guys... pre NUP :D

Well, I have heard too many stories where a man asks his dad about getting married, his dad says "if you want your fiance to sign pre-nup, maybe you should not get married at all" the son doesn't get his fiance to sign the pre-nup... 10 years later they divorce, she takes his house, splits his other assets down the middle and applies for spousal support... and the man is left to pay. Yet this woman has not lifted a finger to acquire any of the property, she was a house wife who drive around in a ferrari that her husband bought her also.

Dont mean to sound sexist but during the divorce, its usually the man that has to pay up big time.

So we are starting the gender debate are we????? :rolleyes: Not going there - last time I looked no-one wins in a seperation. Breakups occur for many reasons and are messy for all involved.

Like I said before, I believe pre-nups are a good idea for many people. My personal opinion is that way too many people rush into relationships without considering all of the consquences or possibilities.
 
Hi all,

As some of you or many have a large number of IPs that you acquired alone or with a partner (husband or wife) you may have thought about how to protect your assets as we all live in a litigious society where people get "robbed" everyday by our legal system.

How many here have made their partners sign prenaps prior to getting married or forming any type of union?

I mean if a person has one property to their name, signing prenap may not be as mandotary (although only an idiot would go in blindly into any union) but if you have 2 or more IPs that you worked hard for to maintain and suddenly you come across your "true love" I think its imperative that you protect all your assets as hard as you can. Your partner may love you today, but who knows what they may think of you tomorrow?

I think for many investors, pre naps are an absolute MUST.

I am not married, I do have a GF who I love dearly and care for as best as I can.

Has anyone got any stories or personal experience to share?

The simple way would be to act as if you have nothing but 20 cents in your back pocket,and act that way for six-12 months till you understand the person,if she-he is serious then the money factor is not important,
I meet my wife on a plane,all she came here with was a small bag of clothes and a credit card,all i had was a 2 bedroom ute,and 2 properties and 3 dogs, and from the start the bosses name is on everything 50-50..willair..
imho//willair,,
 
The simple way would be to act as if you have nothing but 20 cents in your back pocket,and act that way for six-12 months till you understand the person,if she-he is serious then the money factor is not important,
I meet my wife on a plane,all she came here with was a small bag of clothes and a credit card,all i had was a 2 bedroom ute,and 2 properties and 3 dogs, and from the start the bosses name is on everything 50-50..willair..
imho//willair,,

Sounds like you had a lot from the start and she had zero...or credit card which means debt. So if you break up, you have a lot to lose, she has nothing.

Divorce for a man without a prenup goes something like this:

1. Do not gain anything.
2. Lose 50% of all your assets.
 
10 years later they divorce, she takes his house, splits his other assets down the middle and applies for spousal support... and the man is left to pay. Yet this woman has not lifted a finger to acquire any of the property, she was a house wife who drive around in a ferrari that her husband bought her also.

Dont mean to sound sexist but during the divorce, its usually the man that has to pay up big time.

I'm sorry but I have to say something. For the record, I'm single with no children and have never been a 'housewife' however it bothers me when I hear men saying when they get divorced they lose everything to the woman who hasn't worked. The situation above might be different if we're talking a multi-millionnaire who has house cleaners and nannies etc. but I think the standard 'housewife' has a VERY hard job and often harder than the husbands. The housework never ends, children are HARD WORK (I know that from just spending a few hours with my niece and nephew a week) and then there is the opportunity cost. Women often given up good careers to become a housewife and then if there is a divorce 30 years later they often can't go back and are too old to get a good career whilst the man goes on earning his high salary. I'd MUCH rather go to work for 8 hours and come home with my kids taken care of, dinner cooked and house clean than be the one doing all that stuff! And then at 65 or so, the man retires and the woman is still cooking and cleaning - when does she retire? I just had to get that off my chest as it really bothers me as I don't think 'housewives' are as respected as they should be especially by men.

Now as far as pre-nups goes, then if this is only for the assets accumulated before the marriage then that is different. I am fully for them, and I'd NEVER consider marriage to someone who had far less than me without one.
 
I'm sorry but I have to say something. For the record, I'm single with no children and have never been a 'housewife' however it bothers me when I hear men saying when they get divorced they lose everything to the woman who hasn't worked. The situation above might be different if we're talking a multi-millionnaire who has house cleaners and nannies etc. but I think the standard 'housewife' has a VERY hard job and often harder than the husbands. The housework never ends, children are HARD WORK (I know that from just spending a few hours with my niece and nephew a week) and then there is the opportunity cost. Women often given up good careers to become a housewife and then if there is a divorce 30 years later they often can't go back and are too old to get a good career whilst the man goes on earning his high salary. I'd MUCH rather go to work for 8 hours and come home with my kids taken care of, dinner cooked and house clean than be the one doing all that stuff! And then at 65 or so, the man retires and the woman is still cooking and cleaning - when does she retire? I just had to get that off my chest as it really bothers me as I don't think 'housewives' are as respected as they should be especially by men.

Now as far as pre-nups goes, then if this is only for the assets accumulated before the marriage then that is different. I am fully for them, and I'd NEVER consider marriage to someone who had far less than me without one.

I am not including children in the equation... once children are involved, everything changes.

I am talking about scenario, husband works, takes care of all financial aspects, while wife stays at home and gets bored, files for divorce and claims half and more.

PS if a guy had 2 houses prior getting married and while being married they bought a third house together, then he should keep his two houses and split the third house in half when being divorced. Fair is fair.
 
I am talking about scenario, husband works, takes care of all financial aspects, while wife stays at home and gets bored, files for divorce and claims half and more.

So I'm assuming there is a housekeeper and a cook, and the wife is out playing tennis and getting massages all day? Well in that case I would agree with you. :D
 
So I'm assuming there is a housekeeper and a cook, and the wife is out playing tennis and getting massages all day? Well in that case I would agree with you. :D

haha yeah. :)

its not about the sex differences. a woman who is wealthy, has 5 properties marries some poor shmuck who files for divorce and claims half of her stuff, stuff like that should be ILLEGAL.
 
its not about the sex differences. a woman who is wealthy, has 5 properties marries some poor shmuck who files for divorce and claims half of her stuff, stuff like that should be ILLEGAL.

I agree if it is "true love" then it's just evil to marry for money. However, what about the millionnaire 70 year old who marries the gorgeous 30 year old? She's obviously marrying for money, but he's obviously marrying her for her looks. So doesn't that make them as bad as each other? The woman in that case also gets frowned upon and called gold digger etc. Good on her, she's selling him her beauty. :) If he doesn't want a gold digger, he should marry a 70 year old woman. ;)
 
if a man has children, he has a responsibility to continue to support those children.

the wife also has a responsibility to spend the money correctly.

works both ways. unfortunately, most (not all!) people that get divorced are those with the "gimmegimmevictim" mentality to begin with.
 
If I was to marry someone who had a substantial portfolio whilst I had nothing (or less), I would demand a pre-nup - regardless of sex.
Not because I am likely to turn bitter and try to steal if things weren't sour, but because I believe what you earn/make on your own is different and should be separate to what you build and succeed with together.
 
I'm with Leikela on this. Enough of this 'I do the paid work and it's my money'. A marriage is a contract on many levels, and the legal contract is the one to be considerate of. I don't see a problem with a pre-nuptial agreement describing what each party brings materially to the marriage, and allowing for a fifty percent split on separation.

Most marriages these days only last about 10 years anyway (yes cynical I know but the figures are the figures) so this seems fair enough to me. It might be a touchy subject to bring up but if it's that touchy why get married in the first place. Adults marry adults and adults understand potentials and consequences. Seems like a way to avoid ending up hating each other too.
 
I am talking about scenario, husband works, takes care of all financial aspects, while wife stays at home and gets bored, files for divorce and claims half and more.

Oh Please!!! How many women do you know who fall into this boat. I know NONE. Most men are not Greg Norman you know.

PS if a guy had 2 houses prior getting married and while being married they bought a third house together, then he should keep his two houses and split the third house in half when being divorced. Fair is fair.

That sounds fair. I am all for sharing what is built up together, but Leikela hit the nail on the head with her post. I think some men have really NO IDEA what it is like to give up a career and care for kids. Actually, if it was a REAL JOB surely I would get PAID :rolleyes::rolleyes::rolleyes:
 
I think some men have really NO IDEA what it is like to give up a career and care for kids. Actually, if it was a REAL JOB surely I would get PAID :rolleyes::rolleyes::rolleyes:

You should invoice your husband each week! :D
10 hours x week cooking @ chef rates $400
40 hours x week babysitting @ babysitter rates $600
30 hours x week cleaning @ cleaner rates $400
A number of taxi rides there for children $100
Personal shopper $100
Say $1600
Then.... lost career and financial independance $priceless

:rolleyes:

I respect women's choice to take on this role, but I personally could NEVER do it!
 
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