Many people believe that prenuptial agreements are “unromantic” and unnecessary if you really love the person you’re marrying. However, prenuptial agreements aren’t about how much you love one another or how romantic you want to be — it’s about affording yourself legal protections in the event that you get a divorce. Hopefully, you’ll never need to use your prenup. But here are 5 reasons that you’ll wish you did if you do end your marriage.
1. You Are a Business Owner
If you’re a business owner, a prenuptial agreement can protect the business assets you accumulated before the marriage. While your spouse may be entitled to a portion of the profits your business earned during the marriage, the agreement can actually protect you from having to make your ex-spouse a partner in your business.
2. You Are Bringing Significantly Less Assets Into the Marriage
If you are the lesser earning spouse, signing a prenuptial agreement can protect you and provide you some financial stability after a divorce while you transition back into living independently.
3. Your Spouse Has a Lot of Debts
If you are marrying an individual who owes a lot of debt, such as student loans, medical bills, or back taxes, a prenuptial agreement can help protect you from being partially responsible for those debts. While you will be responsible for any debts you incur together during the marriage, you will not be held responsible for the debts your spouse had before you were married.
4. Your Plans are to Raise Children While Your Partner Works
If you plan to devote your life to raising children and keeping the home while your partner works, and give up your job in doing so, a prenuptial agreement can provide you with financial stability in the event that you must re-enter the workforce after a divorce.
5. You Are Bringing Significantly More Assets Into the Marriage
If you are wealthy, a prenup is particularly important in order to protect the assets you had before the marriage. Additionally, if your partner is willing to sign a prenup, it can signal that your partner is dedicated to you — not your money.
Learn more about prenuptial agreements by contacting Mindi Lasley, P.A. Attorney Lasley can help guide you through the process of drafting a prenuptial agreement that works in your favor and protects you in the event that you ever become separated from your spouse. Call today for a consultation to discuss your unique needs at (813) 873-9047.