In today’s Friends Talk Finance episode, we discuss the the taboo topic of Prenuptial Agreements. Why are people afraid to talk about them? Should you sign one or not as a physician? What are the financial implications of not getting a prenup? All of these questions are answered today as Bonnie and Carrie discuss all things to do with Prenups!
In this episode, you will learn:
- Why you need to think of the financial implications of marriage and divorce as a physician.
- How, “Divorce is a weapon of mass destruction,” is a great quote to describe why you need a prenup.
- What can and cannot be included in a prenup and why.
- How you can think of a prenup in a positive way as a romantic contract.
- How you can make a decision about alimony in your prenup.
- Why each party needs to have their own attorney drafting their side of the prenup and each person needs to pay for their attorney separately as well.
- Why Carrie doesn’t have a prenup and why Bonnie will get one if she gets married.
- How you should invest in your marriage so you don’t have to worry so much about a prenup or postnup.
Links we discussed in the show:
- Check out Bonnie’s blog for great financial advice at Miss Bonnie MD.
- The White Coat Investor, Jim Dahle, has a great blog article about prenups: The Pros and Cons of Prenuptial Agreements.
- Find another great physician blogger with great advice at: The Happy Philosopher Blog.
- To read more about Financial Independence and how prenups can affect you, check out The Ivigilante Blog.
- Check out this Washington Post article: Divorce among doctors isn’t as common as you think.
Special thank you to this week’s show sponsor: Johanna Fox Turner at Fox & Company Wealth Management.
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Great episode! I’m not sure Bonnie convinced Carrie about prenups being romantic. Your advice for married couples with kids is spot on. You need to make time for each other, even if it’s just Netflix and pizza. Don’t take your spouse for granted – you need to be a united front against the wild beasts….I mean your sweet loving children.
Lol. The ‘wild beasts’ is right!