Prenuptial Agreement - Retirement Accounts

[CurtisS]

What is the name of your state (only U.S. law)? Texas

Before getting married, all I have and/or care about are the retirement accounts I have created prior to the marriage. Is a prenup really necessary in my case if this is my only concern? Or could I have a simple document created stating something like "all retirement accounts created prior to marriage along with any/all future dividends and growth shall only belong to the original contributor?" Would a simple document only covering this topic give me the protection I need instead of going through a detailed and extensive prenuptial agreement? If you are dealing with a retirement account that is worth $100K for example today at age 27, this amount can be very large 30 years from now.

Thank you so much for your time!

Curtis

[LdiJ]

Originally Posted by CurtisS

What is the name of your state (only U.S. law)? Texas

Before getting married, all I have and/or care about are the retirement accounts I have created prior to the marriage. Is a prenup really necessary in my case if this is my only concern? Or could I have a simple document created stating something like "all retirement accounts created prior to marriage along with any/all future dividends and growth shall only belong to the original contributor?" Would a simple document only covering this topic give me the protection I need instead of going through a detailed and extensive prenuptial agreement? If you are dealing with a retirement account that is worth $100K for example today at age 27, this amount can be very large 30 years from now.

Thank you so much for your time!

Curtis

Premarital assets remain premarital property as long as you do not comingle them with marital assets.

You don't need a prenup.

[mistoffolees]

Originally Posted by CurtisS

What is the name of your state (only U.S. law)? Texas

Before getting married, all I have and/or care about are the retirement accounts I have created prior to the marriage. Is a prenup really necessary in my case if this is my only concern? Or could I have a simple document created stating something like "all retirement accounts created prior to marriage along with any/all future dividends and growth shall only belong to the original contributor?" Would a simple document only covering this topic give me the protection I need instead of going through a detailed and extensive prenuptial agreement? If you are dealing with a retirement account that is worth $100K for example today at age 27, this amount can be very large 30 years from now.

Thank you so much for your time!

Curtis

Congratulations on thinking about retirement early enough to have $100 K at age 27 (if those are real numbers).

Just stop adding to that account when you get married (I'd actually stop a little while before the wedding since it sometimes takes a while for deposits to appear). If you never make another deposit to it, you should be OK. If you want to make it clear to her so there's no understanding you can, but you shouldn't need to.

It's easy enough to open a new account for all deposits made after you're married.

[nextwife]

I agree, if it's a private account start a new one at marriage with a different account number. Get documentation of holdings acct numbers and size/shares at marriage and retain it. During the marriage, don't contribute into that account, but elsewhere, if possible. This makes establishing WHAT is premarital easy. Keep all premarital holdings totally seperate.

[MFinancier]

Originally Posted by CurtisS

What is the name of your state (only U.S. law)? Texas

Before getting married, all I have and/or care about are the retirement accounts I have created prior to the marriage. Is a prenup really necessary in my case if this is my only concern? Or could I have a simple document created stating something like "all retirement accounts created prior to marriage along with any/all future dividends and growth shall only belong to the original contributor?" Would a simple document only covering this topic give me the protection I need instead of going through a detailed and extensive prenuptial agreement? If you are dealing with a retirement account that is worth $100K for example today at age 27, this amount can be very large 30 years from now.

Thank you so much for your time!

Curtis

Yes you could stop contributing to this retirement account (make sure you stop the year before you get married since you are considered married for the whole year in which you get married just to cover every angle if it's the typical end of year lump sum contribution that may be considered marital) and open another account the following year to be funded with marital income...if your talking about an IRA, but if it's a company sponsered account...you can't very well stop contirbuting. In that case...as was mentioned...all premarital contributions and appreciation of those contributions are non marital and will be traced back no matter how long you are married. That can be costly and time consuming...but at least you don't have to spoil the good vibes with any prenup. Just keep in mind that in the long run, if you end up moving from TX and getting divorced in an equitable distribution state...they will definitely consider any substantial nonmarital assets when making a split or giving out support. So the bottom line is....you can't really win without a good prenup (if there is such a thing ) Either way, I wouldn't recommend a "simple" document for something with this kind of potential money, if you choose to do a prenup...make it comprehensive.

[CurtisS]

Originally Posted by LdiJ

Premarital assets remain premarital property as long as you do not comingle them with marital assets.
You don't need a prenup.

I thought once you get married, all assets become marital assets? What do you mean by comingle? What the other guys say? Like don't put her name on the accounts, leave those accounts alone or separate forever?

Curtis

[Bali Hai]

Originally Posted by CurtisS

I thought once you get married, all assets become marital assets? What do you mean by comingle? What the other guys say? Like don't put her name on the accounts, leave those accounts alone or separate forever?

Curtis

I'm going to give you the best legal advice yet, DO NOT GET MARRIED!!

NEVER forget that it was Bali Hai who told you this!!

[MFinancier]

Originally Posted by CurtisS

I thought once you get married, all assets become marital assets? What do you mean by comingle? What the other guys say? Like don't put her name on the accounts, leave those accounts alone or separate forever?

Curtis

If you have 100K at stake...you better Google "commingle", "comingle", "co-mingle", and "divorce" immediately