Prenup question

[jesusq]

I'm getting married and have been asked to look into doing a prenup. We both have our business (sole-properties) I'm looking to start a second business and and would like to corporate both of them as a Limited Partnership.

I wanted to know since the corps are going to be their own entity, do I have to add them to a prenup?

I'm looking to corporate for insurance and liability of risk of lawsuits, but what would that means if in case of a divorce?

 

[jesusq]

I forgot to mentioned. We both currently have our separate business. Would it be fair if we put on the prenup that what she makes on her business is hers and what I make on my business is mines in case of a divorce?

 

[army judge]

You should each discuss your wants and needs with your own attorney.

If keeping your junk is a must, don't get married.

Very few prenups are bullet proof, and the mere discussion of any prenup can cause great stress, anguish, and grief.

Bottom line, you can't get your answers for free off of the Internet.

If prenup you must, you each hire an attorney, and don't proceed until you're both satisfied.

 

[jesusq]

Thanks Army for your response.

Yes, we've gotten a lot of advice from already married people, and we both agree that it is wise to protect our selfs prior than "if" we need to.

We're both in agreement to do the right thing as efficient and correct as possible without spending a bunch of money. We've discussed this with some lawyers, but the cost of the agreements is outrageous compare to the other stuff. Almost half the cost of the wedding itself.

We are both getting started on our careers, and lives, but wanted to know what's the most inexpensive and correct way to do an agreement that's not going to break the bank more than what it already is.

 

[army judge]

Thanks Army for your response.

Yes, we've gotten a lot of advice from already married people, and we both agree that it is wise to protect our selfs prior than "if" we need to.

We're both in agreement to do the right thing as efficient and correct as possible without spending a bunch of money. We've discussed this with some lawyers, but the cost of the agreements is outrageous compare to the other stuff. Almost half the cost of the wedding itself.

We are both getting started on our careers, and lives, but wanted to know what's the most inexpensive and correct way to do an agreement that's not going to break the bank more than what it already is.

You BOTH could save a bundle of money by getting married without all the trappings (and financial trap) of a wedding. A simple religious or civil ceremony, followed by a nice, small dinner for a few select friends and family could save you thousands of dollars.

Large weddings are no longer the norm for people wishing to start their lives on a sound financial basis.

My wife and I were married before judge, and later had a religious ceremony. Let's just say we've seen many of our friends and family divorce, and remarry after spending lots of loot for a large wedding(s). We're still standing, and are happy we put that money we would have blown on a wedding into our joint savings account.

That said, you must choose what works best for you. You sound like a sane, financial savvy couple. If I were you, I'd reconsider that wedding, spend some of that loot to get yourselves a proper "prenup" done real lawyers (one for her, one for you), and the rest in the bank.

Its your call, and hers what you eventually decide to do.

I wish you love, health, wealth, and success.

 

[jesusq]

So is there a way to get a prenup almost as accurate for a reasonable cost? I see some online services. I'm just wondering how good are they or if it's a waist of time.

 

[army judge]

So is there a way to get a prenup almost as accurate for a reasonable cost? I see some online services. I'm just wondering how good are they or if it's a waist of time.

I urge you to discuss this with an attorney.
Most attorneys will charge you nothing for an initial consultation.
I'd avoid self help remedies, until you believe you are knowledgeable about good vs. bad "prenups".
Its also wise to make sure you BOTH are happy with any agreement before you make further plans to marry, if a "prenup" is important to both of you.
Furthermore, as time passes, one party could start whining about "love", in lieu of a "orenup".
Bottom line, a "prenup" is often found to be more important to one of the parties, than it is equally important to both parties.