Articles Tagged with prenup

lottery-3846567_960_720-300x200You may have heard the recent story of a Michigan man who won an $80M lottery jackpot being ordered to split the money with his estranged wife (you can read the story here). When the man bought the ticket back in 2013, the couple had already been separated for about two years. The ticket won as the couple was still separated and in the process of obtaining a divorce. The couple had agreed to use an arbitrator for their divorce. In the case of the lottery winnings, the arbitrator noted that because “losses throughout the marriage were incurred jointly, so should winnings be shared jointly.” With the after-tax winnings totaling roughly $38M, the arbitrator awarded the wife $15M. Upon review of the appeals court, no errors were found. Continue Reading

weddings-bands-with-hands-221x300Prenuptial agreements (“prenups”), much like relationships themselves, are not “one size fits all.” Each couple has a unique set of goals and issues to be addressed. The content of a prenup reflects these individual objectives. People hesitant about obtaining a prenup often conflate the idea with certain common misconceptions and opinions. One sentiment often brought up is the notion that prenups only prepare for divorce. However, the principal goal of a prenup is to clarify expectations about the couple’s future regardless of whether there is a divorce. I have written in the past about the benefits of prenups for all kinds of couples. A prenup can act as a platform for compromise, while allowing couples to be proactive about their future, the management of their assets, and the expectations for their lifestyle. Once a couple does decide to obtain a prenup, what should the agreement actually cover? Continue Reading

Picture1With Valentine’s Day upon us, it is a great opportunity to discuss the positive effects that prenups can have on a relationship. In my book, Prenups and the Elephant in the Room, I cover the common misconceptions about prenups, and how couples can work together to face these misconceptions. Below is an excerpt from my book which discusses the misconceptions themselves, as well as how couples can use these misconceptions to start the discussion about a prenup. Continue Reading

Prenuptial agreements are on the rise for  Generation Y individuals, or “Millennials”, according to recent reports in the news. What is it about this group that is lending itself to an uptick in prenups? Continue Reading

I recently read a New York Times article addressing the growing trend of multigenerational households and the benefits of a so-called ‘prenup’ for this type of homeownership. The reasons for a contractual arrangement about home ownership for families can range from financial considerations to the added support in raising young children.  Here are some of the factors to be considered when thinking about purchasing a home with parents or adult children: Continue Reading

Social media is all around us. In today’s world, around-the-clock accessibility through social media has become the norm. It seems as if everyone is constantly updating their status or tagging their pictures so that we know exactly where they are and what they are doing. Couples are realizing that updates on an individual’s whereabouts and thought on social media can affect their family. Continue Reading

meeting-room-3-1239345-300x221High-stakes negotiations are often characterized as intense back-and-forth battles where only one party wins. The winner takes all while the other party may suffer a loss of both objectives and dignity. A loss of dignity in negotiations for a prenup can have a long-lasting effect on the relationship.   Negotiating a prenup can (and should) be about coming to a mutually beneficial agreement for both parties. While the marital relationship is considered an economic as well as social partnership, establishing a foundation for the economics of the relationship can be challenging.  The goal of the negotiation should be conducive to creating a durable, family-oriented agreement. Below are five reasons the “art of the deal” is not a zero sum game when it comes to family: Continue Reading

One of the most common questions I receive from clients is how to bring up a prenuptial agreement with a future spouse. There is no uniform answer to this because every couple has its own dynamics, and a prenup conversation should reflect this. With that being said, there are some basic ideas to help your path to a prenup go more smoothly.  Continue Reading

In today’s constantly connected world, the way we interact with one another has changed. Relationship milestones are now often celebrated through technology and are sometimes reached through technology itself. Becoming Facebook official sometimes marks the real beginning of a relationship. Sharing a Netflix password may signify that the relationship is serious. Having a joint iTunes account is often part of a modern relationship. In a world that is increasingly dependent on the use of technology, how can you safeguard your own digital assets?  Continue Reading

OLYMPUS DIGITAL CAMERASocial media serves as an open journal or scrapbook for many people. It allows distant friends to reconnect, family members to keep in touch, and people to share accomplishments. However, social media has also become an easy way for people to get a window into someone’s hobbies, spending habits, and even one’s schedule. In the divorce process, care should be taken so that social media does not frustrate the negotiations.  Continue Reading