The prenup. That dirty little word. In all honesty, before I went to law school, I had the same reaction. “Why are people getting married if they’re preparing for divorce?” But if you think about it from a different perspective, it starts to make more sense. You don’t buy homeowner, car, or life insurance planning to need it. It’s there in case the unexpected happens. Just like estate planning, you hope you won’t need to utilize the documents (at least in the short term when it comes to estate planning). But being prepared can save the headache–and a hell of a lot of money–down the road. Unlike an estate plan, which everyone needs in some form, not everyone needs a prenup. So how do you know if it is right for you? Here are a few considerations.
This was a very bad idea. Setting a time-consuming goal two weeks into adding blog writing on top of a full time job while parenting a toddler and baby was a bad idea. I’m not really sure what I was thinking here, other than I really wanted to catch up on the 50+ books that continued to stack up inside and on top of my nightstand. I challenged myself for the month of June to read one book per week for a total of four books.
I don’t read particularly fast, despite my parents’ investment in a speed-reading course in high school, and I know very well how little time I have outside of work, parenting, and now, blogging. And yet, I delved into my first book with high hopes. On June 13, I was 60 pages into 234 of book one. Out of four. Did I cut myself some slack and cut my goal down? Hell no. Within 2 days, I finished book one and was on to book two.
And by June 30, you bet your ass I finished All. Four. Books. Aside from learning that I can function on very little sleep even when it’s not baby related, I actually did manage to enjoy most of my reading. I tried to hit different genres for each book to push myself out of my comfort zone.
It happens all the time. You and your spouse are chatting over pizza one night and an app idea pops into your head. Or your sister pitches you to invest in some real estate with her. Maybe a friend asks if you want to partner on a cool new business she’s been wanting to start up. Or maybe your parents offer up a position for you in their business when you finish college. Whatever the situation, it is all too common that these businesses get going informally, and this can create major problems if the business grows, or worse, if the business goes south. Going into business with family or friends is always risky, but when done right, it can be quite rewarding. Consider these as your starting point when starting a family business:
Starting a family is an exciting, chaotic, adventurous time. Sometimes it’s planned. Sometimes it’s a pleasant (or terrifying) surprise. In all cases, it results in the creation of a life for whom you are physically, emotionally, financially, and legally responsible. Super exciting to take that on, right? There are enough challenges to being a new parent, so follow these steps to tackle the basic legal considerations that arise when you start a family.