Prenups, part 1

Reports of celebrity marriages -- and celebrity divorces, often include reports that the couple did, or didn't have a prenuptial agreement. Katie Holmes and Tom Cruise - Yes. Jessica Simpson and Nick Lachey - No. Nicole Kidman and Keith Urban - first No, and then Yes. Yet, with all of this attention on prenups, there is a lot of confusion as to what a prenup can, or cannot accomplish, as well as what the actual consequences of a prenup can be. In an online study 25% of those surveyed felt that prenups were only for celebrities, 15% felt that asking for a prenup doomed a marriage from the start, and nearly 20% felt that a prenup was never needed if people loved each other. The truth is that prenups can play an important role for non-celebrities, can govern the disposition of assets upon the death of one of the parties after a long-term marriage, and can add an element of certainty and sense of stability for both parties, supporting - not destroying - their love for each other. Prenups are not appropriate, or effective, or enforceable, in all situations. However, for those situations where they are appropriate, they can be effective, and enforceable, if done properly. The criteria to be considered in determining whether or not to have a prenup, as well as some of the issues to be addressed in reaching a prenuptial agreement, are addressed in Prenups, part 2.