What Are Five Signs You Need a Premarital Agreement?
Premarital agreements are not the most romantic aspect of planning a wedding, but they are an important step to take when you want to protect your assets and your rights. Before marriage, some people consider getting a premarital agreement, but they are unsure whether one is really necessary. If you have thought about getting a prenup, below are five signs it is a good idea to raise the issue with your fiancé now.
You Have Significant Assets
People are getting married later in life these days and many have already accumulated significant assets before they get married. If you have investment property or other assets you want to protect in the future, you should get a premarital agreement. Even though some of the assets may be considered separate property, there are certain rules that may have them classified as marital property. A prenup will protect these assets regardless of what the future brings.
You or Your Fiancé Have Significant Debt
It is not only assets that are divided in divorce. Debt is distributed between the two spouses, as well. If you have a lot of debt, a prenup will protect your spouse in the future. Likewise, if your fiancé has a lot of debt, you also do not want to be responsible for it in the event that you get a divorce.
You Expect to Receive a Significant Inheritance
In most Florida divorce cases, inheritances are considered separate property so they are not generally divided during divorce. Still, if you are expecting to receive a significant inheritance in the future, a premarital agreement can ensure it is always considered separate property.
You Have Other Children to Protect
If you have a child or children from a previous relationship, it is essential that you have a premarital agreement. If you pass away, your spouse may receive all of your assets and it is their responsibility to distribute them. Depending on the relationship, your children may get nothing. A premarital agreement will ensure your children receive the inheritance you want to leave them.
You Plan to Stay at Home After the Marriage
While it is true that more and more homes today are considered two-income households, some people are still choosing to stay at home to raise children after they get married. When this is the case, it is critical that you have a premarital agreement. Staying at home to raise children has many benefits, but it may also seriously affect your earning potential in the case of divorce. A premarital agreement can help you secure alimony that will provide the financial support you may need in the future.
Our Florida Family Lawyers can Help with Your Premarital Agreement
If you are about to get married and you believe you need a premarital agreement, our Tampa family lawyers can help. At All Family Law Group, P.A., our experienced attorneys can draft an agreement that protects your interests and is enforceable by the courts. Call us today at (813) 672-1900 or contact us online to schedule a free consultation.