Prenups... re-visited!!

[EmpirE231]

there have been a couple other threads on this topic over time, and so on. I'm just trying to get a couple details from the pros here on HB :rolleyes: hahah
facts:
-My house is under my name only, it was listed on me (as a single man). bought the house september of 06 while we were dating.
-my bank accounts are only in my name, she has a checking account that she added me to.
-my business is a corporation, and I own 50% of shares/chair (not public)
-all other little things like trucks and toys are in my name
my questions:
what would a prenup actually do for me? I have read/heard over and over that california is not a community property state, meaning that If I bought/owned the house before marriage... then she does not have any rights to it incase of a divorce. (but she is entitled to 50% of the appreciation from the time of marrieage to the time of divorce) am I correct? in this case, a prenup wouldn't help protect me any further?
are bank accounts protected the same way? and vehicles?
my main concern is the business.... in the case of any split, that is my #1 that I want protected... business was founded in 02 and incorporated in 07. still not married yet. would my business be up for grabs in the case of a divorce?
I know I should seek an attorney, so if that's your reply... just hold on to it. and no this isn't a bad way to get into marriage. just want to make sure I'm protected, and if she was ever to leave etc. I'm not living in some appartment with zero.:)

[Jbb]

I would seek an attorney......you hold onto it....:)
Your marriage is doomed to failure if you worry now
next!

[topless]

Get one just to be safe. I know a man who's fat ass wife was cheating on him and decided she wanted a divorce. He didn't and wouldn't leave the house which was in his name only and he bought it before they got married. She called the cops one day and claimed he was abusive, she got a restraining order. Guess who couldn't get his house? Yep, she moved her new tweaker boyfriend in with her while he lived in a focking trailer. She still has the house and he still lives in a damn trailer somewhere. ....oh and she's still fat.

[OnlyMoney]

Get an attorney and make sure they know what they're doing. That's what we did. :)
I actually LOVE the guy that did hubby's estate planning...if I had an estate, I'd go to him too!!

[OnlyMoney]

Get one just to be safe. I know a man who's fat ass wife was cheating on him and decided she wanted a divorce. He didn't and wouldn't leave the house which was in his name only and he bought it before they got married. She called the cops one day and claimed he was abusive, she got a restraining order. Guess who couldn't get his house? Yep, she moved her new tweaker boyfriend in with her while he lived in a focking trailer. She still has the house and he still lives in a damn trailer somewhere. ....oh and she's still fat.
OMG, I've seen that in a movie! Only she wasn't fat...LOVE STINKS! Greatest movie ever!!! :)
And pardon me, I have been drinking today!

[OnlyMoney]

Protect yourself, them bitches are evil.:D
Rio
Especially that Topless chick.... :)

[SB]

I was fair, she got a bedroom set, a refridgerator, and a small TV. She also paid her own moving bill and all of the attorney bill.
oh yeah, I got the dog.
Protect yourself, them bitches are evil.:D
Rio
Good answer.
Every couple should have the mental discipline to sit down and go through this whether they sign a prenup or not. The bride and groom may have wildly dissimilar expectations.
Your prenup could be long and complicated or it could be as simple as stating that neither of you will seek alimony.
You could probably spend a 1/2 hr. with an attorney for under $200, a small price for your piece of mind and the protection of thousands of dollars worth of assets.
Michael Douglas limited his wife to $50 million and thought it fair.:D

[ratso]

I would seek an attorney......you hold onto it....:)
Your marriage is doomed to failure if you worry now
next!
Most are anyway... I have a simple solution though...
DON'T GET MARRIED!!!!!!!!!!!!!!!!!!:D

[BBGetOn]

Empire, here's the dope. California IS a community property state. What that means to you is that everything that you accumulate from the time of the marriage is joint. SHE OWNS HALF.
Anything that you had before the marriage is your separate property as long as you do not co-mingle it.
Your house-> The equity that you have up to the date of the wedding is yours. (there are exceptions-like if she had been making the payments,etc.) If you have a separate savings account that has 100 bucks in it and you don't add to it while you are married and 2 years later get "D", then it is still yours.
There are a lot of ways to protect yourself (house appraisel day before wedding, etc. ) so go find a knowlegable attorney (do not take her with you ) and let the attorney spell it out for you.
My divorce cost me zip. She basically got nothing but what she came into the marriage with. I kept my home that I had prior to the wedding, cars, boat business (including the accounts payable, the write-offs, etc. I even kept the state and federal tax return that she paid in from her job as a nurse.
I was fair, she got a bedroom set, a refridgerator, and a small TV. She also paid her own moving bill and all of the attorney bill.
oh yeah, I got the dog.
Protect yourself, them bitches are evil.:D
Rio
Great answer! A few more things to think of:
1. In addition to getting the house appraised, you may want to have a business valuation performed to establish the value at date of marriage. You will be entitled to that, plus a reasonable rate of return. If you do not want to spend the money to have the valuation performed, make sure to keep all financial records for five years prior to the date of marriage in order to prove your separate property interest. The community will be entitled to any increase in value due to community efforts during the marriage, after the separate property is reimbursed.
2. In regards to the house if you refinance, or sell the house and buy another house, keep all records including closing statements, appraisals and loan balances. Be careful when refinancing as some lenders insist that both spouses be on title to refinance. It is possible to add a spouse and then remove the spouse after the refinance is complete.
3. As for the vehicles and toys, they will remain yours as long as they are paid for and held in your name. If the community makes payments, the community will be entitled to reimbursement.
4. The bank accounts are separate property, unless community funds are co-mingled with the separate property. Keep the separate property separate. Do not add to it, unless it is with separate property. If you need to transfer funds to the community from the separate property account, make sure to write "loan" on the memo section of the check and keep a copy of the check, front and back. This ensures that the community will have to re-pay the separate property should the issue arise.
This may sound cold, afterall marriage is supposed to be about trust, commitment and bonded for life. However in reality the divorce rate is hovering at about 54%. Both parties should be smart enough to stay protected. Good luck!

[ratso]

Great answer! A few more things to think of:
1. In addition to getting the house appraised, you may want to have a business valuation performed to establish the value at date of marriage. You will be entitled to that, plus a reasonable rate of return. If you do not want to spend the money to have the valuation performed, make sure to keep all financial records for five years prior to the date of marriage in order to prove your separate property interest. The community will be entitled to any increase in value due to community efforts during the marriage, after the separate property is reimbursed.
2. In regards to the house if you refinance, or sell the house and buy another house, keep all records including closing statements, appraisals and loan balances. Be careful when refinancing as some lenders insist that both spouses be on title to refinance. It is possible to add a spouse and then remove the spouse after the refinance is complete.
3. As for the vehicles and toys, they will remain yours as long as they are paid for and held in your name. If the community makes payments, the community will be entitled to reimbursement.
4. The bank accounts are separate property, unless community funds are co-mingled with the separate property. Keep the separate property separate. Do not add to it, unless it is with separate property. If you need to transfer funds to the community from the separate property account, make sure to write "loan" on the memo section of the check and keep a copy of the check, front and back. This ensures that the community will have to re-pay the separate property should the issue arise.
This may sound cold, afterall marriage is supposed to be about trust, commitment and bonded for life. However in reality the divorce rate is hovering at about 54%. Both parties should be smart enough to stay protected. Good luck!
That right there is funny... most chicks are banging someone else before the 7 year itch even comes along...;)

[jkh04200]

Get all the appraisals and chit. treat it like a business venture. Its sad I know many many people who are divorced and I can honestly say not one of the guys tried to screw the ex. All of em were fair and wanted to help her in anyway they could. But, the woman tried to fock over them. WOMAN ARE EVIL. I've seen it time and time again.

[ratso]

Get all the appraisals and chit. treat it like a business venture. Its sad I know many many people who are divorced and I can honestly say not one of the guys tried to screw the ex. All of em were fair and wanted to help her in anyway they could. But, the woman tried to fock over them. WOMAN ARE EVIL. I've seen it time and time again.
Like my momma told me...One day you're gonna finally realize, all women are bitches... trust me, I know, because I am one.:idea: