Thinking of signing a prenup later in life? There are benefits and pitfalls.

Q: I've been thinking about asking my girlfriend to sign a prenuptial agreement ahead of our marriage. We're both 69, have adult children, and I also have grandchildren. We rent a home, but looking ahead, I may purchase a home for the two of us. I can make the down payment and pay the principal and interest on the loan plus the property taxes and insurance. I understand that as my spouse, she will have the right to live in the home after my death. I'm trying to decide if the prenuptial should give her a share of my equity in the home. What's customary in these circumstances?

A: Most prenuptial agreements would state, among........

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