Thoughts On Prenup In States Like New York?
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Throw-away account, thanks in advance.
My partner and I are getting engaged and I’d like to better understand equitable distribution in states like New York before bringing up the prenup topic.
My net worth is around 6mm, partner is around 100k. Assets are basically all ETFs and cash. 5mm post tax, and 1mm retirement funds.
My income is around 1mm, hers around 250k. Both will hopefully grow over time, and both are W-2 based.
How does equitable distribution work exactly? Does it apply to the growth on the existing net worth or is that something that would be split in the future ?
In the scenario where we continue to make our existing incomes and then we separate how exactly would we split it?
I realize there’s no one-size-fits-all solution but I’m looking for just high-level overview to figure out if we need to have an arrangement or if we can just rely on what the state provides us with?
Realize I’ll likely need to hire someone, would like a little info in advance.
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