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Originally Posted by Kanzeon  Prenups are horrible to draft. They almost always contemplate circumstances that don't arise. The cause strife and difficulty in themselves, and no one drafts them cheaply, and some lawyers will increase their usual fee (the reason being that the lawyer who drafted it will probably be - without compensation - a witness at trial). Then, when things start to go haywire in the relationship, someone will try to use the terms of the prenup to gain leverage on the other. And, because each one is unique, and each one needs to be judged separately on the fairness of the drafting, the implemention, and the final result, it is expensive and ugly to try.
I have people come to me to get prenups, who have maybe a half million in assets. I turn them away. They've been told that getting a prenup is the responsible thing to do. It is only a good thing to do if you have significant assets (somewhere about a $2 million net worth), or if you have kids already that you want to protect, or if you are part of a family business. |
Huh. My limited experience was the exact opposite. Most of them I drafted were for clients of a tax attorney who also did estate planning and the like. The few that resulted in a divorce led to quick resolutions according to the terms of the pre-nup. Then again, these were mostly people who fit the description you gave (high net worth) and generally professionals with two working partners.
My assumption was that they're fairly solid when done with adequate representation, full disclosure, and no compulsion...