smilee1079
Posted : 1/25/2007 9:34:15 PM
My bf and I are planning to get engaged soon so we discussed these topics with my dad who's a lawyer.
My BF owns the house we live in and put a significant amount of money down. So, we decided should we break up our marriage, he'd want to make sure I don't take the house. However, I do pay a rent each month and if we do any improvements to the house, like a new kitchen which would increase the house value, some of the money put towards the improvements would have been my money. So, we'll probably do a prenup that says anything put into the house before the nuptials in a lump sum, such as the 20% down is my bf's and a certain agreed upon percentage of the value of the house (minus his lump sum) at divorce would go to me, and the rest to him. Also, in the same document, we will comment that all sums of money currently in our own bank accounts remains our own money and cannot be taken by the other in a divorce (we probably have similar savings at this point though). Each of our 401k plans and investments could also not be taken by the other person.
Now, should we have kids, some of that will definitely change, esp. since I will stop working.