Hi All – looking to get some advice on what you would do in my situation. My boyfriend and I have been dating for a while and we are thinking of getting married. We make roughly the same amount now (he makes slightly more, but also going to do an MBA next year so I will be the breadwinner). However, I am inheriting a saving account from my parents, who are of course concerned about losing it to someone else. To come to terms with my parents, we are entering a prenup.
What approach would you commonly use in this situation (e.g., protecting the savings account only, anything else that should be mentioned also)? What happens if I use the cash from the saving account as down payment for a house? How do we specify unequal home ownership in that case? Does having two lawyers a must in prenup arrangement?
Thank you all! Happy New Year!
6 comments
You each need your own lawyer. If it were me, I’d keep everything separate and then a follow the prenup. Meaning I would NOT mix your assets. You can account for down payments and future assets in a good prenup.
A [prenup is often a good idea](https://www.brides.com/guide-to-prenups-5094310#:~:text=Experts%20agree%20a%20prenup%20can,marriage%20doesn't%20work%20out.). Yes, you want to have two lawyers so you are both protected adequately. A poorly written prenup won’t hold up in court. This should cover what happens if you use the money from the account to buy a home as well has what you will do if one of you decides to [stay home to raise children]((https://www.cnbc.com/2013/12/20/why-stay-at-home-moms-need-a-postnup.html)
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Talk to a lawyer.
I read a case where someone tried to claim their inheritance– or rather, the home they bought with it– was excluded property in a divorce and lost because, as it was the matrimonial home, it was nonetheless marital property.
I think even without a prenup, depending on where you are, certain property such as inheritance are excluded, but that’s in Canada. So.
Lawyer.
I would just have your parents put it in a trust for you. Likely cheaper than hiring lawyers for a prenup and easily maintained separately
Keep everything documented. If not a large sum, I wouldn’t spend a bunch on a lawyer. Document what’s separate and apart, including the down payment in house and it it a gift to the marriage or will you own more of the house than he? Whatever it is, document, both sign and notarize the agreement. Keep 3 original copies.
Chances of divorce are 50/50 so good chance you’ll never need this. In the off chance you do, you’ll have docs to back up how cash is split.
It’s funny to me when it’s the woman with money everyone talks about lawyers. When it’s the guy many comments are “she’s your side. What’s yours is hers” and “you’re responsible for her”.
We talk about equality but guys are still treated like unemotional slaves.