Your Email:

Friend's Email:

Note: (optional)

Subject:

Message: <br /><br /> If you are having trouble reading this email, you may view this article online at: http://www.jweekly.com/19026/full/19026/second-marriages-need-romance-and-prenup-agreements/ <br /><br /> <b>Second marriages need romance and prenup agreements</b> <br /> Friday, December 20, 2002 | by <p>PAUL R. HUARD </p> <br /><br /><p>The old saying goes "a little bit older, a little bit wiser."<br /><br /> If your next marriage isn't your first union, you've probably learned that tying the knot is more than romance: It's finance. You don't have to be a multimillionaire to consider the benefits of a prenuptial agreement to you, your future spouse and the closest members of the newly formed family.<br /><br /> "Think of it as a business arrangement or as an insurance policy to help remove some of the emotion that's naturally involved," says Nancy Dunnan, a New York City financial adviser and author. "A prenup and the discussions that go with it can help ensure the financial well-being of the marriage."<br /><br /> If you live in one of the nation's nine community property states—California is among them—the law says property accumulated during the marriage will be divided equally.<br /><br /> In all other "equitable distribution states," the court divides assets based on what it considers a fair distribution. The judge would take into consideration things such as the length of the marriage, whether there are children and the couple's age, health, job skills and other factors.<br /><br /> Alaska is a special case. It's an equitable distribution state, but it has a law that allows people to voluntarily enter into a community property agreement.<br /><br /> With those facts in mind, it's easy to see why a prenuptial agreement could be the best premarital decision you make.<br /><br /> Here's some expert advice on how to successfully navigate the tangled issues surrounding the contract:<br /><br /> *Broach the subject early.<br /><br /> The mention of a prenuptial agreement shouldn't come as a surprise if you and your sweetheart were open with each other as the relationship became serious.<br /><br /> Joseph P. Zwack, attorney and author of "Premarital Agreements: When, Why and How to Write Them," says the first step in the process should be to sit down with your intended and reach an agreement about what you want the contract to say.<br /><br /> "Draw up your list of assets and talk about it before you hire the lawyers," Zwack says. "You won't know the specific laws, but have a concept in mind."<br /><br /> *Ask your attorney at the first meeting what the anticipated charges will be.<br /><br /> Doing that can save you money. Fees for prenuptial agreements depend on how long they take to draft. Depending on where you live in the United States, attorneys fees can range from $100 to $500 an hour for help with this kind of matter.<br /><br /> *Hire separate attorneys.<br /><br /> To help ensure an enforceable agreement, both parties need their own lawyers. Use only matrimonial lawyers who are familiar with prenuptial agreements and the laws of the state in which you will be living.<br /><br /> The attorneys co-write the agreement with their clients' best interests in mind. Besides, courts have rejected prenuptial agreements when a judge decided that both sides did not have adequate legal representation.<br /><br /> *Be prepared to take some of the sting out of the arrangement.<br /><br /> As time passes, you might feel that changes should be made to the agreement because the need for financial defense is replaced by increased generosity.<br /><br /> Options include a "sunset clause," which specifies a time at which the contract would expire, such as after a specific number of years have passed.<br /><br /> You might consider a joint review of the agreement every few years.<br /><br /> *Make sure the agreement is in writing and the signing is witnessed by a lawyer.<br /><br /> Legal experts recommend that the agreement be signed in triplicate with the groom- and bride-to-be each getting an original copy, and a third being kept with an independent lawyer, CPA or in a safety deposit box.</p> <p> </p>

Please enter the letters and numbers you see in the image below: