Free Prenuptial Agreement by hqh17862

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									FINANCIAL INTIMACY
SUZE CHAPTER 2




   Dave Rath
 The Financial side of LOVE, ROMANCE,
 CO-HABITATION, and the MARRIGE CONTRACT
Financial Intimacy

 Money  Problems
 Living Together
 Prenuptial Agreements
 Marriage Contract
 JTWROS and TIC Joint Tenancy with right
  of survivorship / Tenants in Common
Nonmarital Cohabitation Agreement (Living Together) - Free Legal Form


   Vulnerable
   Cohabitation Agreements
In the event of death or breakup without a
    cohabitation agreement, you partners may
    be treated as legal strangers.

   Implied agreements /
    Palimony (living or dead)
   Common Law Marriages
   Common Law states
   Alabama. In this state, the parties must agree to be husband and wife, they must have the mental capacity to enter into and
    understand such an agreement, and they must consummate the marital relationship.
   Colorado. In order for a common law marriage to exist in Colorado, the relationship must be proven by the cohabitation of the
    common law spouses and their reputation for being married.
   District of Columbia. In the District, a common law marriage is established by the parties' explicit intent to be married and
    by their cohabitation.

   Iowa. A common law marriage is established in Iowa by the parties' intent and agreement to be married, their continuous
    cohabitation, and their public declarations that they are husband and wife.

   Kansas. In Kansas, the man and woman must have the mental capacity to marry, they must agree to be married at the present time,
    and they must represent to the public that they are married in order for a common law marriage to exist.
   New Hampshire. This state recognizes common law marriages only upon the death of one of the spouses. In other words,
    common law marriages are recognized in New Hampshire for inheritance purposes only.

   Montana. In Montana, the parties must have the capacity to consent to marriage, they must agree to be married, they must
    cohabitate, and they must have a reputation of being married.
   Oklahoma. The parties must be competent, agree to enter into a marriage relationship, and cohabitate in order to be considered as
    having a common law marriage.
   Pennsylvania. A common law marriage is established in Pennsylvania by the exchanging of words between a man and a woman
    indicating an intent to be married at the present time.
   Rhode Island. In Rhode Island, a common law marriage exists if a man and woman have a serious intent to be married and engage
    in conduct that leads to a reasonable belief by others in the community that they are married.
   South Carolina. In this state, if a man and woman intend for others to believe they are married, a common law marriage may be
    established.
   Texas. If a man and woman in Texas sign a form provided by the county clerk, agree to be married, cohabitate, and represent to others
    that they are married, a common law marriage exists.
   Utah. In Utah, a common law marriage is established if the man and woman are capable of giving consent and getting married, if they
    cohabitate, and if they have a reputation of being husband and wife.
Is engagement a contract?
 Is engagement a contract?



Jilted bride gets
   $150,000 jury award

Rose Mary : „He made a
  promise to me‟

After hearing the case the
  court agreed
 The Marriage Contract
Marriage is a written contract
and verbal agreement binding you to an
obligation of respect, fidelity, and support
 Separation

 Annulments

 Divorce

 Alimony
Medical procedures?
                  After years of court
                     hearings, who did
                     the courts listen to
                     in the Terri
                     Schiavo Case?
Settlements / Alimony /
Child Support
Transfers of money
and assets

   What are they
   What are the tax consequences of
    each
    2 Types of Annulments
   Religious – Catholic Church, required to re-
    marry in the Catholic Church
   Legal –Assumption is that if you would had
    known, you would never have gotten married.
    Annulment means the marriage is dissolved
    and never took place.
       Fraud, Incapacity of mind, Inability to
        Consummate, age or other legal restriction
YouTube - Kenny Chesney Talks About His Annulment



 Sept. 16, 2005
NEW YORK - Renee
  Zellweger and
  country music star
  Kenny Chesney will
  have their four-
  month-old marriage
  annulled.
Divorce – the undoing of the
legal marriage contract
“For richer or poorer, better
  or worse, in sickness and health,
  till death do us apart”
   Community Property States

   Equitable Distribution Sates

“Words of wealth” and “Not today thank you”
Ways to settle a Divorce
   Divorce Attorney
   Court Trial with a judge*
   Mediator
   Arbitrator

*Financial and Emotional Implications
$76 million dollar settlement for
Madonna Richie Divorce     Madonna Divorce Smear Campaign



 London, Nov. 20, 2008
 “Divorce battle taking
 toll on Madonna's
 health?”
“Divorce
battle to be              “They prepare
made                      to fight it out in
public”                   a US court.”
The Playboy Playmate®
and the Billionaire
   “At age 26, Anna
    Nicole Smith married
    89-year-old J. Howard
    Marshall”                     “The prenupt would
                                   have limited her to $5
                                   million”
   “Smith never signed
    her Prenuptial
    agreement but decided         “Smith was awarded
    for a quickie marriage”        $450 million by a
According to various sources       judge in California”
Prenuptial Agreements
GOOD or BAD
 Full Disclosure of assets, debt, $

 Requires you discuss $ issues in advance

 6 mo. – 1 yr. before marriage

 2 attorneys (1 each)

What should be in it:
•How $ will be handled    What can‟t be in it:
during marriage            Child custody/support
•Inheritances, debt,
                           Illegal activity
property, Pension, $$$
                           Sex….
•How assets will be
divided if split-up         activity/frequency/type
Britney Spears
Prenup Agreement
Based on his signed prenup with
    Britney Spears, The NY Post
    is reporting that Kevin
    Federline will only walk away
    from his divorce with
    approximately $300,000.
That is certainly pocket
change to a mega star like
Britney, who is estimated
to be worth over $100 million.
 Ferderline asks for custody
Custody granted
Spears will pay
  $25,000 a month in
  child support for
  each of the
  couple’s two
  children until they
  reach 18.
Death of a loved one




Divorce 50%/ Death 70% men die
  before wife
And if woman needed any more
reasons to have control of our money:

   The poverty rate among children
    quadruples when they live with a divorced mom
    instead of married parents.
   Women comprise 80%of older Americans living
    alone.
   The income of widows drops 44% within three
    years after a husband's death
    What is paternity?
   Paternity means fatherhood. When a married
    woman gives birth, her husband is presumed to
    be the father of the child.
   When a child is born outside of marriage, the
    father of the child does not automatically have
    the same rights and responsibilities as the father
    of a child born in marriage.
   Laws vary by state          Tennessee Code
                                TITLE 36 DOMESTIC RELATIONS
                                CHAPTER 2 PATERNITY
                                PART 3 PATERNITY AND LEGITIMATION
 Are you financially compatible?

                               What portion of income is
  How will you split bills?    acceptable debt/savings?




Remember the number one reasons for divorce in North America!

								
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