BOSTON (CBS) –  Are they just for the wealthy or super stars like Sandra Bullock? No! However, for the record she was one smart cookie. She had a clause put in their pre-nup that if Jesse cheated during their marriage he got nothing in the divorce!

[Audio|titles=Pre-Nup Chat|artists=Dee Lee]

Trying to find love today is truly hard and then you add the subject of money. It’s enough to put the brakes on any relationship.

So who needs a pre-nup agreement or at least begin talking about it? According to you should consider having a pre-nup if you fall into any of the following categories:

You have assets such as a home, stock or retirement funds
Own all or part of a business
You may be receiving an inheritance
You have children and/or grandchildren from a previous marriage
One of you is much wealthier than the other
One of you will be supporting the other through college
You have loved ones who need to be taken care of, such as elderly parents
You have or are pursuing a degree or license in a potentially lucrative profession such as medicine
You could see a big increase in income because your business is taking off, or that garage band you play in has just gotten a contract with a big record company.

Today people are getting married later in life and because of that they come into a marriage with assets, problems and two sets of pots and pans.

When one of you has considerably more money than the other, is protecting it for your children from a previous marriage important? Do your adult children think it is important? Are they concerned about their inheritance? Do they think he wants to marry you because their dad left you a half a million ($500,000) in life insurance proceeds?

A pre-nup agreement and good estate planning is a way to protect your assets for your children if something should happen to you. With a second marriage you might want to consider setting up individual living trusts and have your children as the beneficiaries of the trust so you are protecting what you brought into the marriage.

So you need to have a money conversation before you exchange keys! Not when you begin to think marriage! This doesn’t necessarily mean that there has to be a pre-nup agreement but an honest chat about the finances.


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