| The Case For The Prenup If you believe in insurance to protect your life, your health, your home, your car—why
don't you also believe in marriage insurance? By Suze
Orman In a nation that seems to be split down the middle on so many issues, it amazes me how united we all are when it
comes to prenuptial agreements. By some estimates, anywhere from 90 to 99 percent of married couples in the United
States do not have a prenup.
I think that's a huge mistake.
Let's do a bit of math, my friends. The national divorce rate is roughly 50 percent. Think about that: literally
every other marriage in America doesn't make it. Now, however much you adore and respect your honey right now, don't
you think most of the folks in the failed 50 percent must have felt pretty much the same way you do, back when they
tied the knot? Statistics don't control us, but they do show where risk lies. Assuming total immunity in the face
of 50/50 odds is acting way too moonstruck, if you ask me.
And that being true, here's what else you need to realize: Divorce, simply as an emotional blow, is awful enough
already. If you split without a prenup, in the midst of this wrenching experience you'll be forced to spend a whole
lot of extra time, effort, and money to have the divorce lawyers and divorce courts in your state settle the
financial aspects of your split in the adversarial style for which they are famous.
Having a prenup that spells out the
wishes of both of you is going to make the whole ordeal go much, much easier and faster for everybody.
Isn't It Unromantic?
I know, I know, there's the icky factor. So many of you refuse to even consider a prenup because you see it as
a sign of distrust that will sabotage the relationship. I disagree. I think working together to acknowledge
each other's wishes—and financial position prior to the marriage—is a sign of incredible love and respect. more...
Lawyer Up
Prenups are one area where you absolutely need a lawyer to draw up the document. Actually, you need two
lawyers. One for you, and one for your honey. For the prenup to hold up in court, some states actually
require proof that you both had independent counsel when putting it together. more...
Article also contains: - Renewing your Prenup Vows
Suze Orman has been called “a force in the world of personal finance”
and a “one-woman financial advice powerhouse” by USA Today. She is the author
of four consecutive New York Times bestsellers, including The Road to Wealth.
Suze Orman, a
Certified Financial Planner Professional®,
directed the Suze Orman Financial Group from 1987-1997, served
as
Vice President of Investments for Prudential Bache Securities from
1983-87, and from 1980-83, was an Account Executive at Merrill Lynch.
Watch Suze every Saturday night on CNBC.
Check www.suzeorman.com
for TV listings.
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