WEBVTT - Study Hall: Prenups & Child Support for The Middle Class

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<v Speaker 1>An illegal alien from Guatemala charged with raping a child

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<v Speaker 1>in Massachusetts. An MS thirteen gang member from Al Salvador

0:00:07.720 --> 0:00:11.840
<v Speaker 1>accused of murdering a Texas man of Venezuelan charged with

0:00:11.920 --> 0:00:15.840
<v Speaker 1>filming and selling child pornography in Michigan. These are just

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<v Speaker 1>some of the heinous migrant criminals caught because of President

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<v Speaker 1>Donald J. Trump's leadership. I'm Christy nom the United States

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<v Speaker 1>Secretary of Homeland Security. Under President Trump, attempted illegal border

0:00:28.160 --> 0:00:31.680
<v Speaker 1>crossings are at the lowest levels ever recorded, and over

0:00:31.760 --> 0:00:34.960
<v Speaker 1>one hundred thousand illegal aliens have been arrested. If you

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<v Speaker 1>are here illegally, your next you will be fined nearly

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<v Speaker 1>one thousand dollars a day, imprisoned, and deported. You will

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<v Speaker 1>never return. But if you register using our CBP home

0:00:46.720 --> 0:00:50.120
<v Speaker 1>app and leave now, you could be allowed to return legally.

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<v Speaker 1>Do what's right. Leave now. Under President Trump, America's laws,

0:00:55.400 --> 0:00:57.400
<v Speaker 1>border and families will.

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<v Speaker 2>Be protected sponsored by the United States Department of Homeland Security.

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<v Speaker 3>The average person probably even listening to this right now,

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<v Speaker 3>is in that one hundred thousand dollars rain.

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<v Speaker 2>A little bit above, a little bit below.

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<v Speaker 3>So yeah, just to ask a context to that, can

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<v Speaker 3>you talk about the pre nump.

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<v Speaker 2>Is it necessary for that? If so, how do you

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<v Speaker 2>go about that? Yeah?

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<v Speaker 4>I think that's where the kind of the frame is

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<v Speaker 4>because people are just not aware of it. And so,

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<v Speaker 4>like I said, first, I have to have a lot

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<v Speaker 4>of married friends, which a handful of them married, but

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<v Speaker 4>they don't even know that the education behind the prenup.

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<v Speaker 5>Yeah, so let's talk about the fact that, yeah, this

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<v Speaker 5>is not a conversation for the wealth class. And I

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<v Speaker 5>think ultimately people feel that way because of the way

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<v Speaker 5>it's been framed by those of us in the media.

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<v Speaker 5>The very first prenup I drew up was for one

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<v Speaker 5>of my sorority sisters who, between her and her future

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<v Speaker 5>husband didn't even bring in two hundred not didn't even,

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<v Speaker 5>but they were not clearing two hundred thousand dollars between

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<v Speaker 5>the two of them, and a prenup was a very

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<v Speaker 5>good idea for them. Why the gentleman brought in a

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<v Speaker 5>couple of assets into the marriage. And listen, most states

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<v Speaker 5>and family law, which is what we're talking about, right, guys,

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<v Speaker 5>can you tell me about spousal support which is another word

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<v Speaker 5>for alimony, child support, These things, prenups, those are all

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<v Speaker 5>governed by local jurisdictions, meaning state by state, and most

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<v Speaker 5>states have basic statutes or laws in place that say

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<v Speaker 5>when you bring assets to the relationship or the marriage,

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<v Speaker 5>those are considered separate property pieces and they will be

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<v Speaker 5>protected anyway. But why risk it, right because then facts

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<v Speaker 5>get conflated where because in this case of this young

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<v Speaker 5>woman in my story, she was going to be moving

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<v Speaker 5>into his house that he had already owned. You know,

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<v Speaker 5>indeed we still had a mortgage on it, but it

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<v Speaker 5>was deeded to him singularly. So we would like to

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<v Speaker 5>believe that it would be designated as separate property. But

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<v Speaker 5>why risk it? So go ahead. That's something you want

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<v Speaker 5>to put in a prenup. Something else to put in

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<v Speaker 5>a prenup? What happens to your pensions? You know a

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<v Speaker 5>lot of people in this conversation right now have great

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<v Speaker 5>jobs from various municipalities and government. We're talking about people

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<v Speaker 5>in law enforcement, people that are teachers, people that are

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<v Speaker 5>in nurses, whatever it is. You know, you want to

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<v Speaker 5>make sure those things are deser So, yes, when you're

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<v Speaker 5>specifically in that kind of like sixty five to like

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<v Speaker 5>one hundred and twenty five thousand dollars income range pre

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<v Speaker 5>nups are for you. Let me be very clear. Pre

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<v Speaker 5>nups are for you. It allows you to designate some

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<v Speaker 5>you know, they're whether they're separate property, income, properties that

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<v Speaker 5>people might come into the relationship with, because otherwise, if

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<v Speaker 5>it goes left, you know, or even if it goes

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<v Speaker 5>halfway left. Now, now it's a problem. Now it's messy.

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<v Speaker 5>Now it's well, I've added a new roof to a

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<v Speaker 5>house that's in your name. Only where does that leave me?

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<v Speaker 5>How do I recoup the equity that the home has

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<v Speaker 5>grown in the seven years I've been here, contributing to

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<v Speaker 5>the mortgage or even paying the mortgage out right, see

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<v Speaker 5>what I'm saying. So that's where a prenup is helpful.

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<v Speaker 5>Now child support, child support totally separate, meaning you don't

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<v Speaker 5>even have to be married, as many people find out,

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<v Speaker 5>to be designated somebody who's going to be responsible for

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<v Speaker 5>child support. That has to do with the fact that

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<v Speaker 5>you are legally the father. And let me be clear here,

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<v Speaker 5>this is why paternity tests are very important. And I

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<v Speaker 5>know again they're not sexy. How do you ask somebody

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<v Speaker 5>you've been having sex with, probably unprotected, probably for some

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<v Speaker 5>length of time. Yo, I need you to get opporternity

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<v Speaker 5>test rather. Well, here's the problem when you don't do that.

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<v Speaker 5>After a year, in most jurisdictions, you are presumed you

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<v Speaker 5>are presumed to be the father, like if you're the husband,

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<v Speaker 5>you're presumed to be the legal father. And let's say

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<v Speaker 5>you're not the biological father after a year, if you

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<v Speaker 5>have not made that case legally in the court, you're

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<v Speaker 5>on the hook financial yeah, period period. So that also

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<v Speaker 5>you're not married. Young lady says the baby's yours. You say, Okay,

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<v Speaker 5>I'm gonna take it on the chain. I'm gonna be

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<v Speaker 5>a man, step up to whatever your situation. You find

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<v Speaker 5>out again after that year of time is run out,

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<v Speaker 5>all the while, you are not the biological father. Too late,

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<v Speaker 5>unless the new actual biological father is willing to take

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<v Speaker 5>that legal responsibility voluntarily, which is very high risk because

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<v Speaker 5>the government's position is we're not trying to pay out

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<v Speaker 5>social Security or any other financial assistance to this child who,

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<v Speaker 5>through our eyes, had a father upon birth. So y'all

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<v Speaker 5>figure it out. That's the government's mentality around it. So

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<v Speaker 5>you got to really be willing to ask some unromantic

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<v Speaker 5>questions and really do some unromantic things. If fiscal stability

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<v Speaker 5>is the priority.

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<v Speaker 3>Inflation is higher than ever, rent is higher than ever.

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<v Speaker 3>We talked about this, well, you put a.

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<v Speaker 2>Pin in it. But how much is enough money for

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<v Speaker 2>each state?

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<v Speaker 3>I know sometimes we'll say how much is needed to survive,

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<v Speaker 3>but I think it would be great from your perspective,

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<v Speaker 3>from your lands and your viewpoint, like how much does

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<v Speaker 3>each person need to be financially comfortable or free?

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<v Speaker 5>I think in New York just because again I've been

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<v Speaker 5>having this conversation recently with a lot of folks, and

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<v Speaker 5>folks by the way, that they're not in our industry.

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<v Speaker 5>Let's be clear. I think a lot of times when

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<v Speaker 5>we have this conversation kind of amongst ourselves as industry peers,

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<v Speaker 5>to third parties listening in, it's like, okay, well they're

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<v Speaker 5>talking about you know when they sitting around talking to

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<v Speaker 5>Charlemagne and Yee, and you know you see a man

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<v Speaker 5>in them. No, no, no, no, no, I'm talking about outside about.

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<v Speaker 2>Right that.

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<v Speaker 5>Motherfuckers. We love you dearly. And now let's talk about

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<v Speaker 5>some people that are not necessarily in that space, right, So,

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<v Speaker 5>people that are out here working jobs or in smaller businesses.

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<v Speaker 5>These the number is about three hundred grand in New

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<v Speaker 5>York to be candid, you know, when we start really

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<v Speaker 5>talking about it, it takes about three hundred thousand somewhere

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<v Speaker 5>like that. If you're making two fifty, you're living very comfortably.

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<v Speaker 5>If you're making a little more, very comfortably. Once you

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<v Speaker 5>get to me above the seven eight hundred thousand, now

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<v Speaker 5>you're starting to talk about being in the upper middle

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<v Speaker 5>class of a New York City or a d C

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<v Speaker 5>or in LA. But if you're talking about those big metropolitans, uh,

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<v Speaker 5>San Francisco, La.

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<v Speaker 1>An illegal alien from Guatemala charged with raping a child

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<v Speaker 1>in Massachusetts. An MS thirteen gang member from Al Salvador

0:09:02.800 --> 0:09:06.920
<v Speaker 1>accused of murdering a Texas man of Venezuelan charged with

0:09:07.000 --> 0:09:10.880
<v Speaker 1>filming and selling child pornography in Michigan. These are just

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<v Speaker 1>some of the heinous migrant criminals caught because of President

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<v Speaker 1>Donald J. Trump's leadership. I'm Christy Noman, the United States

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<v Speaker 1>Secretary of Homeland Security. Under President Trump, attempted illegal border

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<v Speaker 1>crossings are at the lowest levels ever recorded, and over

0:09:26.840 --> 0:09:30.040
<v Speaker 1>one hundred thousand illegal aliens have been arrested. If you

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<v Speaker 1>are here illegally, your next you will be fine nearly

0:09:34.040 --> 0:09:38.080
<v Speaker 1>one thousand dollars a day, imprisoned and deported, you will

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<v Speaker 1>never return. But if you register using our CBP home

0:09:41.800 --> 0:09:45.160
<v Speaker 1>app and leave now, you could be allowed to return legally.

0:09:45.520 --> 0:09:50.320
<v Speaker 1>Do what's right. Leave now. Under President Trump, America's laws,

0:09:50.440 --> 0:09:52.880
<v Speaker 1>border and families will be protected.

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<v Speaker 2>Sponsored by the United States Department of Homeland Security.

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<v Speaker 5>Miami a bit, but I would say Miami is probably

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<v Speaker 5>a little more on part with DC. I would say

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<v Speaker 5>two fifty you should be better, but and I only

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<v Speaker 5>say that because of the housing. I'm only talking about

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<v Speaker 5>places where your starter house, your one bedroom, one bathroom

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<v Speaker 5>condo in New York is a million dollars. In La

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<v Speaker 5>your two maybe three bedroom, one bath, maybe one and

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<v Speaker 5>a half bath bungalow starter home is a million dollars.

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<v Speaker 5>So that's kind of where this is coming from. So

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<v Speaker 5>if you want to kind of be in that starter

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<v Speaker 5>home position, you want to enjoy the amenities of living

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<v Speaker 5>in those cities. Well, nobody has to live in New York, right,

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<v Speaker 5>And we get that all the time as New Yorkers,

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<v Speaker 5>and I'm sure people in La here and in San Francisco, right,

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<v Speaker 5>Why would you choose to live in one of the

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<v Speaker 5>most expensive cities in the world. Well, because of the amenities,

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<v Speaker 5>Because I like being able to hop on the train

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<v Speaker 5>and go one stop to Midtown and go to see

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<v Speaker 5>a Broadway show. The Whiz is coming in a couple

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<v Speaker 5>of weeks. Like that hype of stuff matters to me.

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<v Speaker 5>I like being able to go and have, you know,

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<v Speaker 5>a six course meal at Michelin Star restaurants. Those amenities

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<v Speaker 5>are white here. But guess what, You're not enjoying any

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<v Speaker 5>of those amenities if you're making one hundred and fifty

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<v Speaker 5>thousand dollars a year. I know that because I've made

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<v Speaker 5>eight one hundred and fifty thousand dollars a year and

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<v Speaker 5>lived in New York at one period of time, and

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<v Speaker 5>it was I'm not gonna be so kind of out

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<v Speaker 5>of touch to say a struggle as in, I never

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<v Speaker 5>didn't think I knew where my next meal was coming from.

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<v Speaker 5>But it was not eating out three four times a

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<v Speaker 5>week and running up Bartack. It just wasn't that. It

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<v Speaker 5>wasn't going on vacations. It just wasn't that lifestyle. So that, yeah,

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<v Speaker 5>if you like that, you need a good three hundred

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<v Speaker 5>thousand in those metropolitans. Now, let's let's go to some

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<v Speaker 5>other places where we know our people are. Let's go

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<v Speaker 5>to Charlotte, North Carolina. Let's go to Atlanta. Let's go

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<v Speaker 5>to Durham, North Carolina. Let's go to maybe some other

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<v Speaker 5>places in San Francisco. Excuse me, in California, there are

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<v Speaker 5>not San Francisco or La kind of mid parts of

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<v Speaker 5>that state and whatever, even Chicago, right, I think if

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<v Speaker 5>you're making a couple hundred grand, even like probably one

0:11:50.440 --> 0:11:53.839
<v Speaker 5>seventy five to two twenty five, you should be living

0:11:54.040 --> 0:11:57.559
<v Speaker 5>very well in those cities, for sure.

0:11:57.600 --> 0:11:59.000
<v Speaker 2>That's why you're the voice of reason.

0:12:01.920 --> 0:12:04.720
<v Speaker 5>Yeah, I mean, I mean, stop me when I started

0:12:04.760 --> 0:12:07.240
<v Speaker 5>lying or sounding crazy. But that's what I've lived, and

0:12:07.240 --> 0:12:08.680
<v Speaker 5>that's when I have conversations.

0:12:09.280 --> 0:12:11.440
<v Speaker 2>It's true what that's what it is.

0:12:11.520 --> 0:12:14.320
<v Speaker 5>So I think when we even talk about who the

0:12:14.360 --> 0:12:16.640
<v Speaker 5>wealth class is, I think that even has to be

0:12:16.679 --> 0:12:19.120
<v Speaker 5>adjusted for. Right, A lot of us out here are

0:12:19.280 --> 0:12:22.199
<v Speaker 5>just approaching the space where we're really entering that part

0:12:22.240 --> 0:12:25.640
<v Speaker 5>of the conversation. So again, if we're talking about that

0:12:25.720 --> 0:12:29.360
<v Speaker 5>level of income, why then would it make a lot

0:12:29.400 --> 0:12:32.640
<v Speaker 5>of sense if we started this whole conversation guys, with

0:12:32.960 --> 0:12:37.640
<v Speaker 5>marriage specifically being a business transaction where you are jointly

0:12:37.760 --> 0:12:41.600
<v Speaker 5>liable for both assets and liabilities. Why would a woman

0:12:41.760 --> 0:12:45.720
<v Speaker 5>making five to a million dollars of income a year

0:12:46.640 --> 0:12:53.520
<v Speaker 5>be desirous of financially partnering with a very lovely gentleman

0:12:53.760 --> 0:12:55.960
<v Speaker 5>who made one hundred and fifty thousand dollars a year.

0:12:55.960 --> 0:12:57.439
<v Speaker 5>And one hundred fifty thousand dollars a year is a

0:12:57.480 --> 0:12:59.440
<v Speaker 5>lot of money, and in a lot of places you

0:12:59.440 --> 0:13:01.959
<v Speaker 5>could do a lot, but that one fifty doesn't even

0:13:01.960 --> 0:13:05.559
<v Speaker 5>probably touch that woman's tax liability. So now, and and

0:13:05.720 --> 0:13:07.280
<v Speaker 5>and it's not just what that looks like. And I

0:13:07.280 --> 0:13:09.120
<v Speaker 5>think a lot of people think that when they hear,

0:13:09.240 --> 0:13:11.120
<v Speaker 5>especially black women say that, it's like, Oh, you just

0:13:11.120 --> 0:13:13.200
<v Speaker 5>want to run your little sorority events and your little

0:13:13.400 --> 0:13:15.679
<v Speaker 5>you know this Galley and Jack and Jeeling all this

0:13:15.720 --> 0:13:18.920
<v Speaker 5>shit and flex. No, we're talking about when it's time

0:13:18.960 --> 0:13:23.120
<v Speaker 5>to put this child in Dalton or this other private school.

0:13:23.440 --> 0:13:24.640
<v Speaker 2>What you got on its?

0:13:25.440 --> 0:13:27.000
<v Speaker 5>What you have on it? Sir?

0:13:29.840 --> 0:13:30.199
<v Speaker 4>On it?

0:13:30.960 --> 0:13:35.600
<v Speaker 5>Can you give me it? And it's going to be

0:13:35.679 --> 0:13:38.640
<v Speaker 5>difficult when it's one sixty coming in the door from you.

0:13:38.720 --> 0:13:42.560
<v Speaker 5>That's all I'm saying. When my daughter's wanting to go

0:13:42.640 --> 0:13:45.280
<v Speaker 5>on her ski trip with her fucking friends, whose dad

0:13:45.440 --> 0:13:48.880
<v Speaker 5>is Jamie Diamond? What do you have on it?

0:13:51.640 --> 0:13:52.880
<v Speaker 3>Seventeen thousand.

0:13:54.480 --> 0:13:57.120
<v Speaker 5>And see this is the part right, So now y'all

0:13:57.120 --> 0:13:59.760
<v Speaker 5>gotta y'all roused up, Thanks fellas. This is part of

0:13:59.760 --> 0:14:04.520
<v Speaker 5>the conversation that you know, the nuance is found. Now

0:14:04.679 --> 0:14:06.840
<v Speaker 5>you could say, well, who the hell needs all that?

0:14:06.920 --> 0:14:10.080
<v Speaker 5>And that's true. Nobody needs to go on ski tripe,

0:14:10.120 --> 0:14:14.840
<v Speaker 5>nobody needs ballet lessons, nobody needs lacrosse classes. But if

0:14:14.920 --> 0:14:18.160
<v Speaker 5>that is your desire, and oh, I'm gonna really piss

0:14:18.200 --> 0:14:20.400
<v Speaker 5>of people off If that's how God has called you

0:14:20.480 --> 0:14:26.440
<v Speaker 5>to live, then why why is that so demonized too?

0:14:26.640 --> 0:14:27.760
<v Speaker 2>There's a there's a way.

0:14:27.560 --> 0:14:30.520
<v Speaker 5>To live out here, period, and when our favorite rappers

0:14:30.520 --> 0:14:33.600
<v Speaker 5>and ball players do it, everybody celebrates it. But when

0:14:33.640 --> 0:14:36.920
<v Speaker 5>you're just a regular calm major from A and T,

0:14:37.720 --> 0:14:41.840
<v Speaker 5>or you're neeering major from FAM, you you get shitted

0:14:41.880 --> 0:14:44.440
<v Speaker 5>on because you aspire to live that way and I'm not.

0:14:44.600 --> 0:14:46.200
<v Speaker 5>I don't like it. I don't like it.

0:14:46.920 --> 0:14:50.080
<v Speaker 2>We don't. We don't have to. That's a fact. Oh wow,

0:14:50.200 --> 0:14:51.200
<v Speaker 2>A lot to talk about that.

0:14:51.360 --> 0:14:55.240
<v Speaker 3>But I want to give a shout to the ak are.

0:14:55.560 --> 0:14:59.160
<v Speaker 2>Yes you are the pinky has gone.

0:14:59.000 --> 0:15:03.480
<v Speaker 5>Up, Jinky's in full salute, Yeah.

0:15:03.320 --> 0:15:04.000
<v Speaker 2>Full salute.

0:15:04.000 --> 0:15:06.400
<v Speaker 3>We recently got honored by the Aka's and my grandmother

0:15:06.480 --> 0:15:06.920
<v Speaker 3>was AKA.

0:15:07.440 --> 0:15:09.800
<v Speaker 5>I saw that the honor. Yeah, well you guys, listen.

0:15:10.120 --> 0:15:12.640
<v Speaker 5>I have a girlfriend who is got it. You know,

0:15:12.800 --> 0:15:15.160
<v Speaker 5>she's one of these great black women right the NBA.

0:15:15.360 --> 0:15:18.960
<v Speaker 5>This is this she's looking at doing some career transitioning

0:15:19.000 --> 0:15:22.120
<v Speaker 5>actually coming from the nonprofit space, getting into more of

0:15:22.160 --> 0:15:24.840
<v Speaker 5>the financial advising sector. And one of the first resource

0:15:24.880 --> 0:15:26.440
<v Speaker 5>she's like, where are some resources? I said on your

0:15:26.480 --> 0:15:29.200
<v Speaker 5>leisure booth, Like just start there, because if you're talking

0:15:29.240 --> 0:15:35.760
<v Speaker 5>about where the culture is kind of baseline consuming this

0:15:35.880 --> 0:15:40.360
<v Speaker 5>information and educating themselves and trying to either enter this

0:15:40.400 --> 0:15:44.520
<v Speaker 5>conversation or expand and elevate it, it is right here

0:15:44.560 --> 0:15:47.920
<v Speaker 5>in this con it's you guys. You guys have branded

0:15:47.960 --> 0:15:51.120
<v Speaker 5>that in a way that is unmatched. And y'all know that,

0:15:51.440 --> 0:15:53.960
<v Speaker 5>so you know it means a lot. I'm glad to

0:15:54.000 --> 0:15:56.520
<v Speaker 5>hear the sores are honoring and and you know, giving

0:15:56.520 --> 0:15:58.320
<v Speaker 5>you your flowers because you deserve them.

0:15:58.440 --> 0:16:02.040
<v Speaker 1>An illegal alien from Guatemala charged with raping a child

0:16:02.120 --> 0:16:05.920
<v Speaker 1>in Massachusetts. An MS thirteen gang member from Al Salvador

0:16:06.160 --> 0:16:10.280
<v Speaker 1>accused of murdering a Texas man of Venezuelan charged with

0:16:10.360 --> 0:16:14.240
<v Speaker 1>filming and selling child pornography in Michigan. These are just

0:16:14.360 --> 0:16:18.120
<v Speaker 1>some of the heinous migrant criminals caught because of President

0:16:18.160 --> 0:16:21.680
<v Speaker 1>Donald J. Trump's leadership. I'm Christy nom the United States

0:16:21.760 --> 0:16:26.560
<v Speaker 1>Secretary of Homeland Security. Under President Trump, attempted illegal border

0:16:26.560 --> 0:16:30.120
<v Speaker 1>crossings are at the lowest levels ever recorded, and over

0:16:30.200 --> 0:16:33.400
<v Speaker 1>one hundred thousand illegal aliens have been arrested. If you

0:16:33.480 --> 0:16:37.320
<v Speaker 1>are here illegally, your next you will be fined. Nearly

0:16:37.400 --> 0:16:41.440
<v Speaker 1>one thousand dollars a day. Imprisoned and deported, you will

0:16:41.480 --> 0:16:45.120
<v Speaker 1>never return. But if you register using our CBP home

0:16:45.160 --> 0:16:48.520
<v Speaker 1>app and leave now, you could be allowed to return legally.

0:16:48.920 --> 0:16:53.640
<v Speaker 1>Do what's right. Leave now. Under President Trump America's laws,

0:16:53.840 --> 0:16:56.280
<v Speaker 1>border and families will be protected.

0:16:56.360 --> 0:16:58.480
<v Speaker 2>Sponsored by the United States Department of Homeland Security,