- 5 years ago
- Wedding: April 2013
This may sound silly since most on this board have already gone through this but I started my first law class earlier this month. I love the information and understand it well. Problem is 2 weeks into my class I am told I should have taken two other law classes before this one. I’m one of only two people in the class that hasn’t taken another law class yet.
Now here is where the problem comes in. My class is graded pretty intensely. 15% of my grade comes from a premarital agreement assignment, 15% from a divorce petition, 35% midterm and 35% finals. That’s it. I’m not worried too much about the midterms and the finals but the papers worry me. Since I’ve never taken any other legal classes I am not familiar and have never written up a legal document which is what I’m supposed to do with the premarital assignment due next Monday!
I’ve been going over it and going over it and going over it but I don’t know what I’m supposed to change and the financial statement is even more confusing.
Like they give (they call her) “blushing bride” as one party who received a diamond ring from her husband and one from her mother. In the financial statement do I include the rings? And if so how do I get an appraisal on the rings when the only thing it gives is the kt size?
Also it says to pay close attention to her home when it comes to the financial statement. According the the information we were given her husband died “intestate” whatever that means and she inherited the home along with 200,000$, her two other children inheriting 200,000$ (100,000 a piece) which is held in a trust until they turn 18. Her home is valued at $200,000 with a mortgage of $50,000. So in the space where it says “real estate” for her current assets would I put $150,000 since that is (I can’t remember the term, I’m tired) how much she’s paid since she still owes $50,000 and put the other $50,000 in the place it says real estate mortgages? Or do I put the full $200,000 in the space where it says real estate, keeping the $50,000 in mortgages, since at the bottom it has “Total of all assets” and “Less Total of all Liabilities” <Would that be where I put the 50,000$ and keep the real estate at the value ($200,000) wish I could show a form for this, I hope someone understands what I’m saying.
It also under “Less total of all liabilities” it says “Net worth” would that be her value without the $50,000 or with the $50,000 mortgage?
There are a bunch more questions but right now I’ll stick to these. Please if you don’t understand what I’m asking let me know so I can try to clarify a little bit. And if you have any tips or anything at all on how to write up a legal document, premarital agreement please let me know. It’s for South Carolina, I’ll be married in Clearwater but my classes are here in SC.
Any help? I know it’s a stretch to think anyone will understand my babbling but I’m freaking out over this assignment being worth such a high percentage of my grade.