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Business and Finance articles appearing in this paper are based on the experiences and opinions of the writers and not The Journal. The advice given is strictly for your information and should not be acted or relied on without related professional advice.

Prenuptial Agreements as Part of Wedding Planning

Black news from Pasadena - Personal Finance - Prenuptial - Premarital agreementsWedding season is here! An important part of the planning that may be overlooked is the need for a written understanding between the parties as to how future legal issues between them are to be resolved.

Premarital agreements (prenuptials) are becoming more prevalent because many people have acquired property and assets before getting married and would like to protect them. High-profile cases put prenuptials on the cover of the tabloids, but they are not just for the rich and famous. A prenuptial should not be regarded with skepticism or as a reason to doubt the love or commitment of the person proposing it. A premarital agreement can actually enhance a couple's relationship by requiring each person to lay all of his or her cards on the table before the wedding.

Here are just some of the many reasons to have a prenuptial: to protect and keep your separate assets separate during the marriage; to agree on how increases in separate property will be treated if the marriage is dissolved; to ensure inheritance rights for your child/children from prior relationships; to set up barriers against liability for your prospective spouse's previous debts and/or debts acquired after marriage; to agree on how household expenses will be paid and whether or not to have a joint checking account; and to agree on personal or religious rights.

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Five Financial Risks to Consider in Retirement

After a Lifetime of Climbing, Retirees Need to be Cautious on their Descent, Expert Warns

Most people don't know that 80 percent of mountain-climbing accidents don't occur on the way to the summit – they happen on the way down, says financial expert and extreme sports enthusiast David Rosell.

Although arriving at the top of the mountain is considered by many mountaineers to be one of life's greatest accomplishments, I can tell you firsthand that summiting is not the ultimate goal for climbers," says Rosell, CEO of Rosell Wealth Management and author of "Failure is NOT an Option," (www.DavidRosell.com).

"They know that most climbing accidents and deaths occur on the descent. With this in mind, they will tell you that their objective is to reach the summit and get back down alive to see their family and friends. They understand that the second half of their journey presents the greatest risk and requires the most planning."

"Likewise, we need to think of retirement as the descent from the financial mountain, which can be treacherous." Retirees and pre-retirees need to evolve from the traditional view of retirement, especially with so much legitimate concern about an unprecedented retirement crisis on our immediate horizon, he says. According to a 2013 report by the National Institute on Retirement Security, 45 percent of working-age American households have no retirement savings.

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