Part A: Frank and Kathy are engaged to be married in your state, and both have agreed to enter into a prenuptial agreement.
Frank is a self-employed business consultant. The business has few tangible assets: a PC, desk, and some books. The intangible property has no market value and consists mostly of goodwill.
Kathy is an attorney whose current salary is $35,000 per year, but she plans to discontinue working as soon as Frank and Kathy have children.
Frank owns a house in your city and state that the couple plans to live in once they are married. He also owns a 1990 Dodge pick-up. He has a money market account with $25,000.00 that he inherited last year.
Kathy has a 401(k) plan at work and owns a 1985 Toyota Corolla. She has been renting an apartment and owns a typewriter, some personal property and clothing.
Prepare a prenuptial agreement for Frank and Kathy.
You may use this sample for reference.
Part B: Mary and Joe have lived together for 12 years but they never were ceremonially married. They live in a state that recognizes community property. They own a house and two cars jointly and each has a separate retirement account. They have separated from one another and are not going to reconcile. In 2 or 3 well-organized paragraphs explain what legal remedies each should consider in dividing the property they have acquired over the past 12 years and describe the other legal remedies that might apply to the break-up of the relationship.
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