Saying ‘I Do’ to a Prenup

October 25, 2012

Filed under: Asset Protection,Estate Planning,Prenuptial Agreements — Tags: "Asset Protection", "Divorce", "Estate Planning", "Full Disclosure", "Legal Contract", "Marc Wander", "Marriage", "Michigan Estate Planning Lawyer Blog", "Prenuptial Agreement", "Witzke Berry Carter & Wander", assets, Michigan — Christopher J. Berry @ 8:51 pm

Which of the following seem out of place: Dating, romance, sex, fun, love, companionship, excitement, bliss, movies, strolling, sunsets, kisses, tenderness, laughing, presents, snuggling, happiness, well-being, or legal contracts?

It’s may seem strange to pair romance and legal contracts, but the reality is that marriage is itself a contract — and most people face that reality with a fist full of rice and rose petals.

Welcome to the world where prenuptial agreements are not only relevant but as practical as say… health insurance. At the precipice of happiness, infatuation, and love lies an undeniable reality of financial negotiations. Often the very notion of talking about a prenup activates the hot-button issues of a relationship: Who do you love more, me or your kids? Is that all I am to you — a dollar figure? Why are you so interested in my money if you love me, for me?

While prenups are often the precursor to an uncomfortable conversation, fight, or meltdown, writing a prenup is becoming more and more common these days of later marriages and high divorce rates. And although it can accompany a lot of anxiety, it can also offer clarity, and strengthen marriages in the big picture.

Creating a prenup raises volatile issues, but after the smoke clears, a prenup can often bring stability and clarity to a marriage in the long term, because it forces spouses to face the core issues of their relationship. If done with sensitivity and compassion, the process of creating a legal prenup can lay the groundwork for honest communication about money — which is public enemy number one to marriages.

In relationships, money is about power, love, self-worth, security, abandonment, envy, and miles more. For these reasons it’s imperative to discuss money before walking down the aisle, to ensure that it doesn’t throw a relationship off kilter.

When one partner brings considerable more assets to a marriage prenuptial agreements lay a fair and compassionate groundwork for a successful marriage. It is also a factor when children from a past marriage are part of the picture. Communication about core issues build trusts if both parties are marrying for love and commit to honest and full disclosure.

Read more:
http://www.huffingtonpost.com/mindy-utay/marriage-prenup_b_1922968.html

Marc H. Wander is a partner of the Bloomfield Hills law firm of Witzke, Berry, Carter &Wander, PLLC. Marc has been licensed to practice law in Michigan since 1992. Marc’s practice is devoted to estate planning and business succession planning. Marc is a member of the Probate and Estate Planning Section of the State Bar of Michigan and is a prior Chairperson of the Oakland County Bar Association Tax Committee. He is a frequent continuing education speaker to insurance agents, financial advisors, CPA’s and financial industry organizations. He has also been heard on WJR Radio. Follow Marc on Twitter @MarcWander.

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The Apparent Reality of a Prenuptial Agreement

October 3, 2012

While it is not romantic, endearing, or without controversy, a prenuptial agreement must considered with the reality and prevalence of marriages that result in a legal separation, divorce or death. The prototypical prenup tackles financial issues such as real estate, division of bank accounts and potential support in the event of divorce or separation.

How to ensure you prenup holds up

Nearly one-third of single adults say they would ask a significant other to sign a prenup, according to a February survey of 2,323 adults by Harris Interactive. It’s longer only a consideration for the rich and the famous. It is for people with assets and/or income that they wish to protect.

Only 3% of people with a spouse or fiancée have a prenuptial agreement, but that is a dramatic increase from the 1% reported when Harris conducted a similar study in April 2002. LeAnna Kruckeberg, 24, says that she has already told her boyfriend of one year that she would prefer him to sign a prenup if they get married. In LeAnna’s case, there is family money that she wishes to be passed down from generation to generation. Her boyfriend understands the stories of her relatives’ struggles, and he motivations for wanting the prenup.

For better or worse

A number of factors are fueling the surge in prenups. Personal-finance expert Suze Orman encourages every engaged couple to get one to protect their current and future assets in addition to shielding themselves in the event a mate secretly runs up massive credit card debt (which could damage both partners’ credit scores).

More than one-third of adults — 36% — said prenups make smart financial sense, according to the Harris survey, up from 28% in 2002. In a recession, people want to hang onto the assets they have, so they increasingly look to these pacts as an option, says Robert Nachshin, co-author of the prenup guide I Do, You Do … But Just Sign Here.

http://usatoday30.usatoday.com/money/perfi/basics/2010-03-08-prenups08_CV_N.htm

Marc H. Wander is a partner of the Bloomfield Hills law firm of Witzke, Berry, Carter &Wander, PLLC. Marc has been licensed to practice law in Michigan since 1992. Marc’s practice is devoted to estate planning and business succession planning. He is a former President of the Society of Financial Service Professionals-Detroit Chapter. Marc is a member of the Probate and Estate Planning Section of the State Bar of Michigan and is a prior Chairperson of the Oakland County Bar Association Tax Committee. He is a frequent continuing education speaker to insurance agents, financial advisors, CPA’s and financial industry organizations. He has also been heard on WJR Radio. Follow Marc on Twitter @MarcWander.







	Saying ‘I Do’ to a Prenup October 25, 2012 Filed under: Asset Protection,Estate Planning,Prenuptial Agreements — Tags: "Asset Protection", "Divorce", "Estate Planning", "Full Disclosure", "Legal Contract", "Marc Wander", "Marriage", "Michigan Estate Planning Lawyer Blog", "Prenuptial Agreement", "Witzke Berry Carter & Wander", assets, Michigan — Christopher J. Berry @ 8:51 pm Which of the following seem out of place: Dating, romance, sex, fun, love, companionship, excitement, bliss, movies, strolling, sunsets, kisses, tenderness, laughing, presents, snuggling, happiness, well-being, or legal contracts? It’s may seem strange to pair romance and legal contracts, but the reality is that marriage is itself a contract — and most people face that reality with a fist full of rice and rose petals. Welcome to the world where prenuptial agreements are not only relevant but as practical as say… health insurance. At the precipice of happiness, infatuation, and love lies an undeniable reality of financial negotiations. Often the very notion of talking about a prenup activates the hot-button issues of a relationship: Who do you love more, me or your kids? Is that all I am to you — a dollar figure? Why are you so interested in my money if you love me, for me? While prenups are often the precursor to an uncomfortable conversation, fight, or meltdown, writing a prenup is becoming more and more common these days of later marriages and high divorce rates. And although it can accompany a lot of anxiety, it can also offer clarity, and strengthen marriages in the big picture. Creating a prenup raises volatile issues, but after the smoke clears, a prenup can often bring stability and clarity to a marriage in the long term, because it forces spouses to face the core issues of their relationship. If done with sensitivity and compassion, the process of creating a legal prenup can lay the groundwork for honest communication about money — which is public enemy number one to marriages. In relationships, money is about power, love, self-worth, security, abandonment, envy, and miles more. For these reasons it’s imperative to discuss money before walking down the aisle, to ensure that it doesn’t throw a relationship off kilter. When one partner brings considerable more assets to a marriage prenuptial agreements lay a fair and compassionate groundwork for a successful marriage. It is also a factor when children from a past marriage are part of the picture. Communication about core issues build trusts if both parties are marrying for love and commit to honest and full disclosure. Read more: http://www.huffingtonpost.com/mindy-utay/marriage-prenup_b_1922968.html Marc H. Wander is a partner of the Bloomfield Hills law firm of Witzke, Berry, Carter &Wander, PLLC. Marc has been licensed to practice law in Michigan since 1992. Marc’s practice is devoted to estate planning and business succession planning. Marc is a member of the Probate and Estate Planning Section of the State Bar of Michigan and is a prior Chairperson of the Oakland County Bar Association Tax Committee. He is a frequent continuing education speaker to insurance agents, financial advisors, CPA’s and financial industry organizations. He has also been heard on WJR Radio. Follow Marc on Twitter @MarcWander. Share this: LinkedIn Facebook Twitter Pinterest Email Print Comments (0) The Apparent Reality of a Prenuptial Agreement October 3, 2012 Filed under: Estate Planning,Prenuptial Agreements — Tags: "Asset Protection", "Divorce", "Estate Planning", "Family Money", "Inheritance", "Mark Wander", "Marriage", "Michigan Estate Planning Lawyer Blog", "Prenuptial Agreement", "Separation", "Witzke Berry Carter & Wander", Michigan — Christopher J. Berry @ 3:59 pm While it is not romantic, endearing, or without controversy, a prenuptial agreement must considered with the reality and prevalence of marriages that result in a legal separation, divorce or death. The prototypical prenup tackles financial issues such as real estate, division of bank accounts and potential support in the event of divorce or separation. How to ensure you prenup holds up Nearly one-third of single adults say they would ask a significant other to sign a prenup, according to a February survey of 2,323 adults by Harris Interactive. It’s longer only a consideration for the rich and the famous. It is for people with assets and/or income that they wish to protect. Only 3% of people with a spouse or fiancée have a prenuptial agreement, but that is a dramatic increase from the 1% reported when Harris conducted a similar study in April 2002. LeAnna Kruckeberg, 24, says that she has already told her boyfriend of one year that she would prefer him to sign a prenup if they get married. In LeAnna’s case, there is family money that she wishes to be passed down from generation to generation. Her boyfriend understands the stories of her relatives’ struggles, and he motivations for wanting the prenup. For better or worse A number of factors are fueling the surge in prenups. Personal-finance expert Suze Orman encourages every engaged couple to get one to protect their current and future assets in addition to shielding themselves in the event a mate secretly runs up massive credit card debt (which could damage both partners’ credit scores). More than one-third of adults — 36% — said prenups make smart financial sense, according to the Harris survey, up from 28% in 2002. In a recession, people want to hang onto the assets they have, so they increasingly look to these pacts as an option, says Robert Nachshin, co-author of the prenup guide I Do, You Do … But Just Sign Here. Read more: http://usatoday30.usatoday.com/money/perfi/basics/2010-03-08-prenups08_CV_N.htm Marc H. Wander is a partner of the Bloomfield Hills law firm of Witzke, Berry, Carter &Wander, PLLC. Marc has been licensed to practice law in Michigan since 1992. Marc’s practice is devoted to estate planning and business succession planning. He is a former President of the Society of Financial Service Professionals-Detroit Chapter. Marc is a member of the Probate and Estate Planning Section of the State Bar of Michigan and is a prior Chairperson of the Oakland County Bar Association Tax Committee. He is a frequent continuing education speaker to insurance agents, financial advisors, CPA’s and financial industry organizations. He has also been heard on WJR Radio. Follow Marc on Twitter @MarcWander. Share this: LinkedIn Facebook Twitter Pinterest Email Print Comments (0)						(248) 481-4000 Free Initial Consultation Name* Email* Phone Comments Comments This field is for validation purposes and should be left unchanged. 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Saying ‘I Do’ to a Prenup

October 25, 2012

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The Apparent Reality of a Prenuptial Agreement

October 3, 2012

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