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Article:
Prenuptial Agreements: The Deal Breaker? by: Odalis M. Encarnacion So you're toying with the idea of getting married? Maybe somebody has mentioned a Prenuptial Agreement (Prenupt) or maybe you've never thought of it before. Regardless, just as you're an educated consumer you might also want to take a look at the advantages of having a prenuptual agreement before leaping into marriage. The truth of the matter is that asking your fiancee' to sign a Prenupt is not the most romantic thing you will ever do. Below are a few tips on planning a marriage with all the love you have for that other person. Understand what it is and what it is not. Some couples forgo the Prenupt conversation for fear that their partner may suspect that they have reservations about the solidness of their relationship. The best thing about a Prenupt is that is does exactly what is suppose to do, it either breaks you up before you commit financial suicide or it makes your relationship even stronger. Ironically, and contrary to long held common belief, according to family surveys, men and women sign Prenupts at an evenly low 16% rate across the table. Increditably, women have a higher percentage of initiating a Prenupt agreement than men. Know does it applies to. Whatever the gender, a Prenupt is especially vital to young adults starting out in their respective careers. In New York a spouse may be entitled to a significant percentage of the value of a professional license earned during the marriage or a master degree earned during the marriage. Basically, if your spouse supported you--even by giving you gas money, for example--during your days as a law school, medical school or business school student, then come divorce time you essentially may be working your entire life for your former spouse. Why? The reason for this is simple but the emotions are a lot more complicated. Because the math formula used to calculate the value of the license contemplates the value amount you will make during your entire working life, the law says that your spouse can possibly collect money decades after the divorce. It's true: the average couples who walk down the aisle don't want to think about potential future financial disagreements. In fact, they don't even consider the future need of having to deal with a divorce and all of its headaches. Regardless of your confidence in the relationship though, the US national divorce statistics give a more realistic, sobering view of marriage and its potential disadvantages. Take a look at the statistics and be honest with yourself. According to the United States Census Bureau, more than fifty percent (50%) of all marriages end in divorce. In 2002 there were '136
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