Monday Financial Nuggets: Prenups and The Rich and Famous

It is yours, mine, and our money blog. Since I’ve being blogging on pre-marriage, I thought to research on pre-nuptial agreement (also known as prenups) because the main reason for it is to protect one’s money and assets before marriage.

“A prenuptial agreement (“prenup” for short) is a written contract created by two people before they are married. A prenup typically lists all of the property each person owns (as well as any debts) and specifies what each person’s property rights will be after the marriage.”

Read more about pre-nups here.

It’s all about money.

Personally, I do not like prenups. I feel that it is preconceived, could be manipulative, that the one who initiates it has a hidden agenda unbeknownst to the other, and places the initiated in a rabbit dark hole. However, having read some articles, there are a few valid reasons that the prenups could be a wise thing to have. One of such that I agree with is, is having one to protect children from a previous marriage, without which properties or money left on death of a former spouse would be contested, conflicted, and could eliminate those children.

I also found an article on the rich and famous’s divorces. What it cost them, financially, to divorce. It is an interesting read. Read here.

Well, I hope that you acknowledge that divorce is a painful process for everyone involved; not only for the married (but soon-to-not) couple but also for family and friends.

Is there anything that can be done differently to avoid divorce? I hope that the Pre-Marriage Self Development Series is helpful for ladies contemplating marriage. I also hope that the Series helps ladies enter marriage smart and with realistic expectations. The F-Financial Development piece of the Series is still a couple of blogs away. Stay tuned.