While most people get into marriage hoping that it will last forever, the reality is that many couples end up divorcing. Issues frequently arise during the divorce process regarding finances and property. Although a common misconception is that prenups demonstrate a lack of confidence in the marriage, getting a prenup before you tie the knot provides peace of mind, helping guarantee your protection in case of a divorce. The following are reasons why you should get a family lawyer to create a prenup for you before getting married.
Protects You From Your Partner's Debt
Did you know that debt can be considered marital property? Therefore, because of your partner's debt, creditors can pursue your assets once you are married. Fortunately, having a prenup can limit your exposure to your spouse's debt in the event of a divorce. A family law attorney can create a contract that clearly outlines your debts as you go into marriage. This will allow a clear separation between debts you had before getting married and those you had in the course of your nuptial.
Safeguards Your Family Inheritance And Personal Property
If you have an inheritance or personal assets, you want to ensure they remain in your name if your marriage ends in a divorce. Getting a prenup plays a significant role in keeping your assets and family inheritance distinct from your marital assets. Additionally, the agreement resolves inheritance queries and ensures that your estate plan is according to your desires, will, and living trust.
Saving Money And Time
The divorce process can take up a lot of time and money. Even in a case where you and your partner agree on every legal issue, you may still spend a lot of money on court and legal fees, even before your case is settled. Yet, a prenup signed before marriage addresses some common legal issues that arise in a divorce, making the process more efficient and streamlined.
Opens A Line Of Communication
Financial issues are one of the leading causes of separation in many marriages. This may be due to reduced income in the household, hidden financial problems, unmet expectations, etc. Creating a prenuptial agreement requires you to sit with your spouse and lawyer, openly evaluate your assets, and disclose your financial status. The process opens up a line of communication regarding finances, helping to strengthen your marriage before it begins.
There are many benefits of getting a prenup. However, you must have independent legal representation for the agreement to be legally binding.
Contact a local family law attorney to learn more.