Q: Confused - downsides of getting a prenup and declaring assets ahead of time? Is it better to hide premarital assets?
Getting married for first time in a few weeks, his first marriage as well. I outearn him 4:1. Confused whether to show my cards - I believe his expectations of me would increase. He doesn't know my salary and net worth. Very confused what to do. Financial habits are very bad -no savings and doesn't blink to spend money on himself. He has said he will step up after marriage but words don't match actions. Is it better to keep quiet? I'm more concerned about the assets I accumulate after marriage. What happens if we move to a community property state?
A: If you want your pre-nuptial agreement to be valid, you MUST list ALL of your assets. It's for your own protection. Besure to provide in your agreement which state's law will apply in the event of a divorce. You can specify this. A lawyer can advise you how to handle assets acquired and money earned during the marriage.
A: Under the circumstances you outline I see no downside to getting a pre-nup. I strongly encourage you to do so.
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