Re: Pre Nups. Just for conversation.

NYC Susan · ‎03-13-2010

@proudlyfromNJ wrote:
@NYC Susan wrote:
@proudlyfromNJ wrote:
@BirkiLady wrote:
@proudlyfromNJ What a foolish and selfish way to handle money. Two previous generations who worked hard and made the money grow would be so disappointed in you.

I'm grateful my family know it's to be passed down. They are grateful for the monetary gifts I provide them annually (out of my own income), which no one needs due to their own work ethics.
@BirkiLady. Lol. Just who should I leave it to? Passed down to who? No kids here. ETA. My family does not work that way re keep handing it down from generation to generation. That was never their intention.

For whatever it's worth, I don't see it as "foolish" or "selfish". That was harsh, and unnecessary, IMO. Not every family handles inheritances the same way, and I've never heard of holding onto it and passing it down generation after generation. That's fine for those who want to do it, but I never thought the intent of inheritances was to hold onto it.

If I leave money to my children (and grandchildren when I have them), I want them to have it and I want them to use it. I don't see anything wrong with that. If it enables them to buy a house or if it eases a financial burden, or allows them to travel or whatever, I would be very pleased. I don't want them to hold onto it and hoard it. I want them to enjoy it. They, in turn, will leave an inheritance for their children and grandchildren. That's how it goes in my family, and we are fine, intelligent, and honorable people. Certainly not foolish and certainly not selfish. I'm pretty sure most families handle inheritances the same way.

Saying that someone's ancestors would be disappointed in them is beyond presumputous and is entirely inappropriate. That response sounded very uppity to me!

@NYC Susan Yes, I agree with everything you said. Everyone has different ideas about inheritances, but to make fun of and put your ideas on someone else is rude and crude. I can’t say what I think about this poster or I would get a time out or banned.

Yes. I understand. :-)

Financialgrl · ‎03-13-2010

@CelticCrafter wrote:
@Financialgrl wrote:
I[m all for it. I'm single but my youngest brother/SIL (no kids) have a pre-nup should they divorce which basically says all assets since married would get split equally.

They both got inheritances and lived together for 3 years before marrying. Before they moved in together they took all monies each had and put into an account in their own names (added each other as beneficiary should they die). Once married all monies went into joint accounts to pay all expenses going forward. Doing so means that if they divorce - neither gets a part of what was mostly family monies. If they die together in a car or plane wreck - the monies will be combined and divided equally among their siblings.

It's my understanding that once you co-mingle assets or inheritances it gets split 50/50 if there is a divorce.

True and it's what they have done - they have 3 stock market accounts - each has a sole account with monies that were inherited before marriage and a third one is a joint brokerage account set up once they married. A financial planner set it up for them. All checking/savings accounts are joint.