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Donald Trump says get a prenup!

In his book, How to Get Rich, Donald Trump includes a short chapter admonishing people to protect their wealth by obtaining prenuptial agreements before marriage. He states that “people have a right to protect their assets.” He likens failure to obtain a prenup to financial “negligence.” See: Trump, How to Get Rich, pp. 103.

Prenuptial Agreements, also known as “antenuptial agreements,” are contracts entered into before marriage between a man and a woman setting forth what will happen to assets in divorce or death. Prenuptial agreements were recognized in Mississippi as early as 1859 and are enforceable like any other contract. They must be in writing.

A person who desires to protect assets should take precautions to make sure the agreement is above challenge. To protect the validity of the agreement, we recommend following the following steps:
  1. Time the drafting of the agreement so it can be signed at least 60 days before the marriage.
  2. Provide a financial statement for both parties and attach it to the agreement to ensure full financial disclosure.
  3. Obtain counsel for the other party.
  4. Be aware that an agreement which is so one sided that it may be viewed as fundamentally unfair, may not be enforced.
  5. Film the signing and have the person state on camera that they do not feel under any pressure to sign, have received full disclosure, have had the opportunity to consult counsel and view the agreement as fair.
  6. Have the parties sign “ratifications” of the Agreement after the marriage to ensure that pension waivers are valid under Federal Law.
Source: “Prenuptial Requisites” by Mark A. Chinn and Charles Greer, Family Advocate, American Bar Association Family Law Section, Vol. 24, No. 3 (Winter 2002) (see http://www.abanet.org/family/advocate .