Amy M. Levine & Associates, Attorneys at Law, LLC - Family Law, Bankruptcy, Probate Litigation, Criminal Defense
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Huntington, WV 304-519-4354
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Columbus, OH 614-360-2942
Huntington, WV 304-519-4354
New Albany, OH

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Amy M. Levine
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What are the penalties for a first-time OVI in Ohio?

You may have been out on a Friday night with a few friends and had a few beers to celebrate. Or you go to your family’s holiday party and drink one too many spiked eggnogs or cocktails. Before you know it, on your way home, police pull you over. Maybe you were...

5 tips for those considering bankruptcy and divorce

While divorce and bankruptcy are both considered chances for couples to move toward a fresh, exciting future, the two legal processes can overlap and ultimately harm each other. It is wise to research your options and learn more about the challenges you might face....

The difference between Chapter 7 and Chapter 13 bankruptcy

Deciding to apply for bankruptcy is a significant decision. Bankruptcy can free a person from financial struggles and grant them the ability to clean their slate. The decision to apply for bankruptcy is a big decision, but it is not the only one someone needs to...

Signs marriage may be heading for divorce

When a marriage is in trouble, the spouses can either work to fix it or prepare for divorce. In a delicate situation like that, acting first can have a significant advantage. Recognizing the signs of a marriage in trouble can give a spouse the time they need to...

Comparing personal bankruptcy options

When you think of bankruptcy, what comes to mind? Is it financial salvation? Probably not. More than likely, thoughts of overwhelming debt and wondering how you will recover from this financial pitfall without descending into financial ruin are filling your mind....

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Possible Recognition of Parental Alienation Syndrome Controversial

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As Everyone has their own financial personality. Your spending and saving habits may differ greatly from friends and family. According to a 2011 study from Utah State University, married couples who disagree about money issues once a week are twice as likely to divorce than couples who have money conflicts less than once a month.

Experts explain that money disagreements encompass a variety of issues that reach beyond financial matters. These contested discussions involve issues of control, freedom and self-esteem. Furthermore, disputes about money are based on differing views regarding spending and saving, which can vary significantly from person to person.

Finances can be a serious issue for couples. If your financial personality or financial status differs from your partner, you may want to consider a prenuptial agreement before you get married. While few individuals enter a marriage with the anticipation of a divorce, marriages can end. A prenuptial agreement is a legal tool that can help protect you in the event that you separate from your partner.

Prenuptial Agreements: Preventing Financial Problems

If you opt to protect your finances before you get married, there are a few matters that should be contemplated when constructing your prenuptial agreement. Many of these questions will depend on the financial personality of you and your partner.

The following are matters that you should consider before marriage. These issues will help you divide financial responsibilities throughout your relationship:

  • Who will handle the finances in the home?
  • Who will be responsible for tax responsibilities, such as filing or paying taxes?
  • Who will be responsible for rental or mortgage payments?

Your prenuptial agreement should also consider the financial repercussions of a divorce. If you get divorced, what do you want to protect? You should consider the following issues:

  • Do you own a business?
  • Does your partner carry significant financial debt?
  • Do you anticipate a large inheritance?
  • What should be the post-marriage fate of property that you and your spouse owned prior to marriage

In the divorce process, ownership of a business could be split between spouses. This is true even if a business was commenced by only one spouse before the marriage. Therefore, you should evaluate how important it is to keep your company.

Also, without a prenuptial agreement, you could be responsible for part of your partner’s debt – even after marriage. Think about all of the financial responsibilities that your partner has, such as student loan debt. Do you want to be financially liable for this after you separate?

Finally, if you expect a large inheritance or you have property in your name prior to tying the knot, you may want to take steps to protect your wealth and assets.

These are just some of the matters that should be contemplated and addressed in a prenuptial agreement. The construction of a prenuptial agreement will depend largely on what you bring into a marriage.

Ultimately, a prenuptial agreement can help you gain a solid understanding of all assets coming into your marriage. The contract assists with financial planning, and it helps you develop a complete financial picture. Most importantly, the device helps you protect what is important to you.

If you have questions about what should go in your prenuptial agreement, you may want to speak to a knowledgeable family law attorney.

Amy M. Levine
View Profile

Our Latest Blog Posts

What are the penalties for a first-time OVI in Ohio?

You may have been out on a Friday night with a few friends and had a few beers to celebrate. Or you go to your family’s holiday party and drink one too many spiked eggnogs or cocktails. Before you know it, on your way home, police pull you over. Maybe you were...

5 tips for those considering bankruptcy and divorce

While divorce and bankruptcy are both considered chances for couples to move toward a fresh, exciting future, the two legal processes can overlap and ultimately harm each other. It is wise to research your options and learn more about the challenges you might face....

The difference between Chapter 7 and Chapter 13 bankruptcy

Deciding to apply for bankruptcy is a significant decision. Bankruptcy can free a person from financial struggles and grant them the ability to clean their slate. The decision to apply for bankruptcy is a big decision, but it is not the only one someone needs to...

Signs marriage may be heading for divorce

When a marriage is in trouble, the spouses can either work to fix it or prepare for divorce. In a delicate situation like that, acting first can have a significant advantage. Recognizing the signs of a marriage in trouble can give a spouse the time they need to...

Comparing personal bankruptcy options

When you think of bankruptcy, what comes to mind? Is it financial salvation? Probably not. More than likely, thoughts of overwhelming debt and wondering how you will recover from this financial pitfall without descending into financial ruin are filling your mind....

Visit Our Blog

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