Protect Your Assets: Why You Need A Prenup

By
Real Estate Services with Think Glink Media

While reliable data on divorce rates is hard to come by, everyone who has been through a divorce can confirm that it’s devastating—emotionally and financially.

Discussing a prenuptial agreement with the love of your life is not easy, which is why so few people have them. It’s difficult to say, “I love you, but let’s talk about what happens if it doesn’t work out.”

Nevertheless, it can be a matter of pay now or pay later. If you want to protect your home and your assets in the event of a divorce, personal finance expert Dan Solin offers some basic guidelines for couples considering a prenup:


  1. Be honest about your assets.
  2. Seek professional help from an attorney. 
  3. Make sure the document is fair for both parties. 
  4. Don't sabotage your prenup with inconsistencies. 
  5. Don't lose the document. 

    To read all of Dan's advice, including what a prenup can mean for your home and life insurance, check out his full blog at http://retirement.equifax.com/2010/12/pay-now-or-pay-later-why-you-need.html.

 

 

 

 

 

Ilyce Glink is the author of several books, including 100 Questions Every First-Time Home Buyer Should Ask and Buy, Close, Move In!. She blogs about money and real estate at ThinkGlink.com, The Equifax Personal Finance Blog and CBS Moneywatch She is Chief Content Strategist at RealtyJoin.com, a community for real estate investor

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Rainmaker
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Wallace S. Gibson, CPM
LandlordWhisperer
Gibson Management Group, Ltd.

When I married my second husband in Hawaii in the early 80s, his father was horrified that there was no pre-nup.....we both owned our own homes and had good jobs and pensions - it NEVER occurred to me to have one.....NOW I see the wisdom.....very good and timely post!!!

December 07, 2010 09:57 AM
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