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One of the most hotly contested issues in divorce proceedings is the division of property and assets, but few couples consider what will happen to their debt if they decide to go separate ways. Debt division is extremely important, though, since outstanding bills must be factored into any determination of a couple's net worth.
Although prenuptial agreements (“prenups”) have been around in some form for thousands of years, dating back to ancient Egypt, the controversy surrounding them doesn't seem to be ending any time soon. Some people simply can't seem to get past the idea that a prenup is inherently unromantic.
Kim Kardashian had one. As did Tiger Woods. Donald Trump swears by it. But contrary to popular belief, prenups aren’t just for the rich and famous. Everyday folks are getting prenuptial agreements, not because they have riches, but because prenups can help reduce conflicts should a divorce happen.
With the constant stream of celebrity news, it's hard not to be aware of some of the property issues that arise when the super rich divorce. But some property issues are relevant in all divorces, regardless of the net worth of the individuals involved.
"Will you marry me?" Ah, the question that's heard around the world-especially during the holidays. For many couples getting engaged, marriage symbolizes romance at its best. While there's nothing wrong with getting caught up in the romance of it all, it's usually a good idea to consider the reality too.
With 1 in 3 marriages ending in divorce, many are choosing to negotiate and sign prenuptial agreements. It is akin to a business contract for a couple; matters such as division (should death or divorce occur) of financial and personal assets, custody of children, division of property are all addressed within the document.
It's not just about the alimony anymore. Bizarre lifestyle clauses in prenuptial agreements are appearing more and more in the marriage contracts of celebrities and high income couples. And like fashion and hairstyles, these clauses may just catch on in the general public. Read more about the craziest prenuptial clauses.
You're having a romantic dinner, just the two of you, when the love of your life pops the question. It's the moment you've been waiting for. You don't even need to think about it. You breathlessly blurt out, "Yes, I'll marry you!" But it's not all hearts and roses when he asks that you sign a pre-nup.