Do You Need a Love Contract!?
Love and money don’t always mix well! Learn how to protect yourself so that a broken heart doesn’t lead to a busted bank account.
Lawyer and author Ann-Margret Carrozza joins The Doctors to discuss her new book, “Love & Money: Protecting Yourself from Angry Exes, Wacky Relatives, Con Artists, and Inner Demons.”
“We are more likely to be involved in a legal battle with a loved one than with a stranger,” she explains. “I share some of these hair-raising stories, and give practical legal tips, from preventing a battle over my will at death, to protecting my house from nursing-home claims, to negotiating marital hall passes and threesomes.”
“What do you mean by marital hall passes!?” Rosie Mercado wants to know. “Time off for good behavior,” Ann-Margret replies. “That’s not happening in MY marriage!” Rosie says.
“Some of the things you talk about really push the limits of what most people would consider in their relationships,” adds. ER Physician Dr. Stork. “These are things that most of us don’t even think about that!”
“What I do in this book is put out a lot of different things that are not going to pertain to everyone,” Ann-Margret acknowledges. “But the goal is to get folks talking about these issues more than they are.” She notes that there’s a 45 percent divorce rate. “It’s insanity not to do a prenup today!”
Ann-Margret takes a question from a viewer, who is about to move in with her boyfriend and wonders if she needs a contract. “PLEASE get a contract!” Ann-Margret urges her. Cohabiting couples have fewer legal protections than married ones, and the house or apartment is usually in only one party’s name. “I don’t want to have to worry with every argument that I’m going to be homeless!” she points out.
“How do you even allow a relationship to evolve naturally?” Dr. Stork wonders. Rosie also wants to know how you present a contract without offending your beloved. Ann-Margret explains that it’s not about trapping your partner – “it’s like a joint mission statement. There’s no venture that’s more important than a love relationship, yet it’s the only thing we going into without a mission statement or a plan.”
Watch: Do Unmarried Couples Need a Contract Before Moving In?
“I have to give you credit, Ann-Margret, for raising a lot of interesting questions we often don’t think about,” concludes Dr. Stork.
