How to Tell if You Need a Premarital Agreement
Premarital agreements are not the romance killers they were once thought to be. In fact, they are becoming extremely common today, particularly among millennials that consider marriage only once they are well established in their career. Still, many people think they may need a premarital agreement, but do not want to raise the issue unless they are certain one is necessary. If you are about to get married, there are five signs that indicate a premarital agreement is a good idea.
You or Your Partner has Accrued Significant Debt
Premarital agreements do not only protect the assets one person has accrued that may be considered marital property. They can also help protect one spouse from the other’s debt. During divorce, assets and liabilities alike are divided during property division hearings. If you or your spouse has accrued significant debt, a premarital agreement can ensure the borrower is the only one responsible for paying it back.
You Have Valuable Assets
Assets are typically what people think of first when they consider getting a premarital agreement, and for good reason. Anyone that has a business, investment properties, or any other valuable asset should always draft a premarital agreement before getting married. These agreements are the only way to ensure those assets will not be divided in the event of divorce.
You Will Not Work After the Marriage
Many households today run on two incomes, but many people still choose to stay home and raise children while their spouse goes to work. In this instance, a premarital agreement is essential. If you get divorced and have stayed home during the marriage, it will be more difficult to return to the workforce. Alimony is among the many terms you can include in your agreement and it will provide the financial support you need in case you get a divorce in the future.
You are Expecting an Inheritance
In Florida, inheritances are usually not divided in a divorce because they are considered separate property. This is particularly true when the inheritance was given to only one spouse. Still, nothing is guaranteed in divorce. If you are expecting an inheritance and want to ensure you will be able to keep it in the event of divorce, a premarital agreement can help ensure you do.
You Want to Protect Other Children
Many people have children from another marriage when they get divorced. When this is the case, your spouse may not give them their fair share if you divorce and then pass away. A premarital agreement can outline the assets you want to pass on to your children so their future is protected.
Need a Premarital Agreement? Call Our Florida Family Lawyers
If you are about to get married and want to draft a premarital agreement first, our Port St. Lucie divorce lawyers at Eighmie Law Firm, P.A. can help. Our knowledgeable attorneys know how to draft an agreement that will protect your interests now and in the future. Call us today at (772) 905-8692 or fill out our online form to schedule a consultation with one of our experienced attorneys.