Determining shop’s value over time?

[MossRoad]

Re: Determining shop痴 value over time?

I got nothin. :laughing:

I'm of the school (like others) of marriage that if you plan on an exit strategy before the marriage, just don't get married in the first place. While I can understand the desire to protect your assets if something happens, marriage, to me at least, means the two become one. If the two of you can't get to that point, and aren't willing to "risk it all" then just push the marriage scenario "over there" for a while.

What you're really after is a business adventure with fringe benefits (wink wink).

As others have mentioned, you'd be well served to consult an attorney that specializes in prenups. He/she will hopefully have a good grasp of what the two of you want to accomplish with that agreement.

Good luck. :thumbsup:

 

[NorTracNY]

I'm with MossRoad. I just can't believe how complicated life can be when you don't follow the path.... How about he sells his house and buys a close plot of land to build his shop on?

Good luck.

 

[LS Tractor Owner]

My opinion... Stay single, you and your friend. No relationship can last when each of you has a plan"B". You are either in 100% or nothing... But, that's me.

Summed up right there....especially "in 100% or nothing". I'm going on 36 years next month...we met and married 6 weeks later. Everything of mine became hers and vice versa. She had mega student loans and I paid every last cent of them. She has put up with me for "better or worse"....a couple of failed businesses and 'starting all over'.

100% 50/50 or nothing.... Keep your arrangements as they are.

 

[Sigarms]

How about he sells his house and buys a close plot of land to build his shop on?.

What was his roomate do if he sold his house?

 

[LS Tractor Owner]

The best way to 'protect' yourself would be to consult a lawyer as previously stated. Sounds like you're putting up 'collateral' (land), he's putting up money for the building. Draw up an agreement that anything improved on your property becomes yours. If he doesn't agree to that...oh well...

 

[Snobdds]

I have consulted on a few mergers and accusations in the business world. It's a simple formula.

Current market value of assets.
-
Liabilities adjusted for net present value.
=
Net worth

Then see who is worth more and proceed accordingly.

 

[skipperbrown]

Why don't you give him a wedding present of enough land to build his shop? Or give him a 50 yr ground lease to build his shop. The problem with pre nups is that assets tend to lose their identity over the years. Funds get mingled and co-mingled and separated again (a forensic accountant's heaven on earth at $200/hr). Yes, you own the land, but he helps build value to it by building fences, sheds, etc. and he helps financially by helping to pay taxes, insurance, etc. thus sharing the asset. Courts take his contributions, monetize it, and subtract it from your asset pile during settlement. So you get to keep your land, but you have to pay for it a second time. Trying to figure out cost and appreciation of a future event that may not happen before you get married is a recipe for disaster. My advice is don't begin with a starter husband. If you have any doubts, don't go there. Divorces are both mentally and financially exhausting. Ask me how I know that!

 

[prof fate]

Re: Determining shop痴 value over time?

I got nothin. :laughing:

I'm of the school (like others) of marriage that if you plan on an exit strategy before the marriage, just don't get married in the first place. While I can understand the desire to protect your assets if something happens, marriage, to me at least, means the two become one. If the two of you can't get to that point, and aren't willing to "risk it all" then just push the marriage scenario "over there" for a while.

What you're really after is a business adventure with fringe benefits (wink wink).

As others have mentioned, you'd be well served to consult an attorney that specializes in prenups. He/she will hopefully have a good grasp of what the two of you want to accomplish with that agreement.

Good luck. :thumbsup:

spoken like someone that has only been married once (if at all), never been around a divorce situation where assets are an issue, where the divorce is of 'poor' or un-equal income.

while 80% of first time marriages last for life, the other 20% go round and round often many times - i have a 75 year old friend on her 4th marriage. (hence the statistic that 50% of marriages end in divorce).

 

[piaffepony]

What was his roomate do if he sold his house?

I have no idea.

 

[piaffepony]

I'm with MossRoad. I just can't believe how complicated life can be when you don't follow the path.... How about he sells his house and buys a close plot of land to build his shop on?

Good luck.

Oh I wish! We have thought about it... but no one is willing to sell a small parcel.