What’s a Pre-Nup?

What’s a Pre-Nup?

A prenuptial agreement is one made between two people who are about to marry.  It should set out any specifics which are ‘deal-breakers’ and how property is to devolve if the marriage fails.

Very rich men who marry women who might be looking at their pocket (or rich women who are involved with ‘kept men’ )can prevent being taken for a fool by carefully constructing their agreement.

Some may create a ‘probation’ period of up to five years, which means that a gold digger will remain for five years.

Others may have wiser lawyers who deal with percentages.

For example;  “if the marriage dissolves after five years, than 25% of my assets go to…”  and spell out the assets.  This prevents the Paul McCartney debacle.

Where a party owns property, putting another name on it prevents the fifty/fifty share.  For example, where the father of the owner is included as a joint owner, the presence of this other name means that this property can never devolve to the wife.

If the husband dies, all property goes to his father, and from his father to whomever the father has as heir.

This is often the ‘deal breaker’ as the potential wife will never own that mansion and have to leave if her husband dies or the parties divorce.

In most cases, when the prospective learns of the disposition of the mansion, often s/he runs away.  Proving that this was a relationship based on money.  It may hurt, but it is more a paper cut than a lethal wound.

The prospective who is not at all troubled by this, is obviously making a love match, and the marriage should last.  (And the husband can, after ten years or so, ‘change ownership’ from himself and his father to himself and the wife.)

In some Pre-Nups the parties have particular ‘no nos’ not just adultery.  One may be totally against smoking or drinking and needs the other person to know how seriously this is taken.

In the best Pre-nups, everything spelled out.  In this way each party knows the results before hand.