MojoMan Posted August 4, 2010 Share Posted August 4, 2010 She: Cash ~ 75K; Retirement probably also around 75K; Income ~280K He: Cash ~200K; Retirement about 250K; income ~215K This is very rough guesswork. I know that she has little assets compared to income because of some bad investments. They bought a house together. Cars in their own names. Does either one need a prenup? My assessment, if the marriage goes bad quickly, he's screwed...loses half of his assets. If the marriage goes bad after several years, her extra income will make up for the difference at the beginnning. Best situation - they stay married. Quote Link to comment Share on other sites More sharing options...
dmarc117 Posted August 4, 2010 Share Posted August 4, 2010 before a prenup, they need to cut back on spending. how can they only have that much saved with those incomes? Quote Link to comment Share on other sites More sharing options...
MojoMan Posted August 4, 2010 Author Share Posted August 4, 2010 before a prenup, they need to cut back on spending. how can they only have that much saved with those incomes? Spend, spend, spend. Quote Link to comment Share on other sites More sharing options...
Caveman_Nick Posted August 4, 2010 Share Posted August 4, 2010 IMO if you think you need a prenup you should reconsider why you are getting married. Quote Link to comment Share on other sites More sharing options...
TimC Posted August 4, 2010 Share Posted August 4, 2010 Yes. Definitely. Marriage is the worst contract you can enter into. He is doomed. Hopefully they stay together, but with the lack of financial sense of these two, I doubt it. Quote Link to comment Share on other sites More sharing options...
Savage Beatings Posted August 4, 2010 Share Posted August 4, 2010 I'd say it's none of your business. Unless you are the He... or the She. Quote Link to comment Share on other sites More sharing options...
Square Posted August 4, 2010 Share Posted August 4, 2010 This is another one of those areas I agree with Dave Ramsey on. Unless you have a couple million dollars, you don't need a prenup. You are either ready to get married or not. I think the phrase he uses is, "The pastor said let you be one. He didn't pronounce you a joint venture." He used to be 100% against prenups but he changed his mind over the years because of the fruit loops that show up in the picture when you have a few million dollars. Quote Link to comment Share on other sites More sharing options...
TimC Posted August 4, 2010 Share Posted August 4, 2010 The problem with Dave Ramsay and marriage is Dave is super-religious. Everyone is religious when they get married. But you ever wonder why you don't get divorced in a Church? Quote Link to comment Share on other sites More sharing options...
Yukon Cornelius Posted August 4, 2010 Share Posted August 4, 2010 The problem with Dave Ramsay and marriage is Dave is super-religious. Everyone is religious when they get married. But you ever wonder why you don't get divorced in a Church? because the church doesn't get any money in a divorce? Quote Link to comment Share on other sites More sharing options...
Azazello1313 Posted August 4, 2010 Share Posted August 4, 2010 my best guess is a prenup is not needed. if things go south quickly, the fact that he came in with more assets will be reflected in the settlement, prenup or no. Quote Link to comment Share on other sites More sharing options...
MojoMan Posted August 4, 2010 Author Share Posted August 4, 2010 These are crude guesses...actually averages from what I belive to be the range of their assets. They give great parties. I like their spend/spend/spend ways. Quote Link to comment Share on other sites More sharing options...
gbpfan1231 Posted August 4, 2010 Share Posted August 4, 2010 before a prenup, they need to cut back on spending. how can they only have that much saved with those incomes? How would you know this? How old are these people and how long have they been working? Do they have significant school loans? Quote Link to comment Share on other sites More sharing options...
dmarc117 Posted August 4, 2010 Share Posted August 4, 2010 How would you know this? How old are these people and how long have they been working? Do they have significant school loans? their retirement accounts show they have been accumulating. but have no rainy day savings. kinda crazy imo. Quote Link to comment Share on other sites More sharing options...
MojoMan Posted August 4, 2010 Author Share Posted August 4, 2010 How would you know this? How old are these people and how long have they been working? Do they have significant school loans? Late 30s and dunno. Quote Link to comment Share on other sites More sharing options...
Ursa Majoris Posted August 4, 2010 Share Posted August 4, 2010 Combined income of half a million dollars? If I was the guy involved in this, I'd just ship my existing assets offshore or something without telling her they ever existed, then live off her money while spending my days doing hookers and blow. She'll never know, she's working all day. Quote Link to comment Share on other sites More sharing options...
Scooby Posted August 4, 2010 Share Posted August 4, 2010 I thought any assets acquired before marriage are untouchable/separate property? I could be wrong... Whatever they make during the marriage is 50/50 (I think)...check your state laws on this. Quote Link to comment Share on other sites More sharing options...
buddahj Posted August 4, 2010 Share Posted August 4, 2010 I saw this quote somewhere, but can't remember where. "Screw marriage, just find a woman you hate & buy her a house." Quote Link to comment Share on other sites More sharing options...
yo mama Posted August 4, 2010 Share Posted August 4, 2010 Dunno. In community property states assets acquired before marriage don't get divided in a divorce: only the fruits of their labor post-marriage. (Gifts and inheratance stay separate, as well). The problem comes when they commingle their accounts and you can't tell whose is whose anymore. I always advise my clients to get a prenup. That way when they don't - and things go to hell in a hand basket - they can't blame me for anything. If you're getting married when you're young and poor (or just poor) it doesn't matter. But once a have a little money its worth considering. Hey, if you ask for a prenup and your betrothed throws a hissy fit, that's a red light in my book. A prenup only needs to spell out what happens in the event of divorce: that can be whatever they want it to be. That ought to be the kind of conversation you can have with someone before entering into a lifetime commitment with them. Quote Link to comment Share on other sites More sharing options...
Azazello1313 Posted August 4, 2010 Share Posted August 4, 2010 That ought to be the kind of conversation you can have with someone before entering into a lifetime commitment with them. it's not so much that I disagree with what you're saying about being careful and such, but if you're truly entering into a lifetime commitment with them then the whole discussion is moot. in my view, it's not unreasonable for one partner to see the other bringing it up as reflecting some uncertainty on their part. it's putting a little wedge in there before the "union" even begins. it depends how both partners view marriage, I guess, but in general I just think prenups are pretty tacky, and best left out of the picture except in cases of major inequality going in. Quote Link to comment Share on other sites More sharing options...
yo mama Posted August 4, 2010 Share Posted August 4, 2010 it's not so much that I disagree with what you're saying about being careful and such, but if you're truly entering into a lifetime commitment with them then the whole discussion is moot. in my view, it's not unreasonable for one partner to see the other bringing it up as reflecting some uncertainty on their part. it's putting a little wedge in there before the "union" even begins. it depends how both partners view marriage, I guess, but in general I just think prenups are pretty tacky, and best left out of the picture except in cases of major inequality going in. About half of all marriages end in divorce. Like they say: hope for the best, plan for the worst. Because - chances are - if a prenup discussion is what kills your relationship, it wasn't going to last in the first place. Look. No one wants to think they're house is going to burn down, they'll kill someone is a car wreck, or die before their time. And yet we all get insurance for those things when they are statistically FAR less probable than a divorce. A prenup is merely insurance against something no one wants to happen, but probably will. I get that it's unromantic, but marriage is about a heck of a lot more than just romance. Quote Link to comment Share on other sites More sharing options...
T_bone65 Posted August 5, 2010 Share Posted August 5, 2010 Combined income of half a million dollars? If I was the guy involved in this, I'd just ship my existing assets offshore or something without telling her they ever existed, then live off her money while spending my days doing hookers and blow. She'll never know, she's working all day. :highfive: Quote Link to comment Share on other sites More sharing options...
wiegie Posted August 5, 2010 Share Posted August 5, 2010 Worst possible case scenario is that they guy loses $150K--which is less than 9 months worth of income for him. And the break-even point for her contributing more to the marriage than he has is just over two years. Does the guy really sign a prenup over that? Seriously? Quote Link to comment Share on other sites More sharing options...
Yukon Cornelius Posted August 5, 2010 Share Posted August 5, 2010 (edited) and people wonder why gheys want to legally get married Edited August 5, 2010 by Yukon Cornelius Quote Link to comment Share on other sites More sharing options...
Square Posted August 5, 2010 Share Posted August 5, 2010 Worst possible case scenario is that they guy loses $150K--which is less than 9 months worth of income for him. And the break-even point for her contributing more to the marriage than he has is just over two years. Does the guy really sign a prenup over that? Seriously? +1 Even ignoring my 2cents that nobody needs a prenup unless they have 2-3 million, the numbers on this don't look that uneven. The chances of not being married for at least 2 years is pretty small. Typical divorces happen after 2, 7, or 25 years of marriage. Quote Link to comment Share on other sites More sharing options...
dmarc117 Posted August 5, 2010 Share Posted August 5, 2010 another prob i have with religion. marriage is forever bla bla!!! no it isnt!! if the 2 people cant be civil towards one another, then punt!! if someone can be faithful, punt!!! nothing is forever!!!!!!!!! Quote Link to comment Share on other sites More sharing options...
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