Episode•June 22, 2023•20 min

Everything You Need To Know About Prenups (And Why You Should Get One) | Ep. 240

Thinking about getting married? You may be wondering if you should get a prenuptial agreement. In this episode, Kimberly Cook, a divorce professional, explains why prenups are for everyone—not just the rich and famous! Prenups can provide transparency and protection to both parties in case of divorce and even those with fewer assets may benefit from one. Learn more about how prenuptial agreements work, when it’s ideal to discuss one, why post-nuptial agreements exist and what to do if your state doesn’t uphold them. Tune in now for all the information you need to know about why you should get a prenup! About Our Guest Kimberly A. Cook, Esq. is a divorce attorney, Mediator, and founder of Grown Girl Divorce, LLC, a divorce resource company. She is known for successfully negotiating complex financial and custody matters while helping her clients navigate their next steps forward. Kimberly’s expertise and her unique ability to disseminate complex information in a relatable way has made her a sought-after divorce coach, speaker, and podcaster. She truly believes that everyone deserves to be in healthy and happy relationships and is on a mission to educate and empower others to make that happen. Kimberly earned her B.A. from Spelman College and her law degree from The Catholic University of America. She is a Fellow of the Academy of Matrimonial Lawyers, the country’s premier organization for family law practitioners, and an active member of American Bar Association, Jack and Jill of America, Inc., Delta Sigma Theta Sorority, and the Economic Club of Chicago. She has been featured in various publications, including, The Chicago Daily Law Bulletin, Chicago Lawyer Magazine, Crain’s Chicago, Black Enterprise, Thrive Global, and Business Insider. In recognition of her hard work and dedication to the practice, Kimberly is the recipient of several notable awards, including Crain’s Chicago Notable Minorities in Law, Super Lawyers, and Best Lawyers In America. Connect with Kimberly Instagram: growngirldivorce Facebook: Grown Girl Divorce Twitter: ggdivorce LinkedIn: Grown Girl Divorce Additional Resources The Divorce Money Guide with Tracy Coenen Money After Divorce With Krista Goodrich and Grace Everitt This podcast uses the following third-party services for analysis: Podcorn - https://podcorn.com/privacy OP3 - https://op3.dev/privacy

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Key Takeaways

Prenups are for everyone, not just the rich and famous

A prenup is a legally binding contract outlining rights and responsibilities in case of divorce, signed before marriage

Even those with fewer assets benefit by protecting what they bring into the marriage

The document provides a clear baseline of assets, debts, and income at the time of marriage

Start the prenup conversation early in the relationship

Discuss financial views and prenups before engagement to understand your partner better

Frame it as protection and collaboration, similar to having insurance

The process forces transparency about finances, revealing potential red flags

Post-nuptial agreements exist for those already married

Post-nups serve the same purpose as prenups but are signed after marriage

Not every state upholds post-nuptial agreements—consult an attorney in your state

If post-nups aren't available, track assets/liabilities, pull credit reports, and review joint tax returns carefully

A prenup forces critical financial transparency

Both parties must disclose all assets, debts, and income during the process

This transparency can be valuable even if you ultimately don't sign the agreement

Lack of financial transparency before marriage is a major red flag

Intro

In this episode of Money Talk with Tiff, host Tiff speaks with divorce attorney Kimberly Cook about why prenuptial agreements matter for everyone—not just wealthy individuals.

Kimberly A. Cook, Esq. is a divorce attorney, mediator, and founder of Grown Girl Divorce, LLC. She earned her B.A. from Spelman College and law degree from Catholic University. She is a Fellow of the Academy of Matrimonial Lawyers and has been featured in Crain's Chicago, Black Enterprise, and Business Insider.

Everything You Need To Know About Prenups (And Why You Should Get One) | Ep. 240

Key Takeaways

Intro

– What Is a Prenup?

– Why Prenups Provide Clarity

– Why 'Broke Girls' Need Prenups Too

– How to Bring Up a Prenup

– Post-Nuptial Agreements

Resources

Topics