Family Law

Bankruptcy Law

Criminal Defense

Personal Injury

Probate

You are here:
Home » Articles » Prenuptial Agreements: Gaining a Financial Picture Before Marriage

Amy M. Levine
View Profile

Our Latest Blog Posts

A comprehensive checklist: What to do after a car accident

Being involved in a motor vehicle accident is incredibly stressful, potentially painful and usually expensive. Knowing what steps to take if you find yourself in this scenario may mean the difference between panic and decisive action. Are you equipped to handle this...

How can I help my children adjust to my divorce?

When you file for divorce, you’re changing not only your life – but the life of your children as well. Divorce for parents can be even more emotional and challenging because of how all the changes will affect their kids. For parents, it’s crucial to offer children as...

Hiring divorce attorneys

When a marriage is no longer working out, many believe that divorce might be inevitable. As difficult as this trying time may be, it is vital for the couple to seek understanding, aggressive and compassionate divorce attorneys that will fight for their well-being and...

When is bankruptcy the best option to deal with massive debt?

Millions of Americans face overwhelming debt, and the number having trouble making payments could reach as high as 67 million due to the current pandemic, according to a recent survey by the financial website WalletHub. For many, bankruptcy can be a positive step for...

4 ways to keep your estate out of probate court

After you pass away, your estate must pass through probate court, where a judge will oversee your personal representative's settling of any outstanding debts and disbursement of your assets to your heirs. While this process usually is uneventful, sometimes a...

Visit Our Blog

Prenuptial Agreements: Gaining a Financial Picture Before Marriage

Contact Us For A
Free Consultation

Bold labels are required.

Contact Information

This field is required.

disclaimer.

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.

close

Privacy Policy

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

A comprehensive checklist: What to do after a car accident

Being involved in a motor vehicle accident is incredibly stressful, potentially painful and usually expensive. Knowing what steps to take if you find yourself in this scenario may mean the difference between panic and decisive action. Are you equipped to handle this...

How can I help my children adjust to my divorce?

When you file for divorce, you’re changing not only your life – but the life of your children as well. Divorce for parents can be even more emotional and challenging because of how all the changes will affect their kids. For parents, it’s crucial to offer children as...

Hiring divorce attorneys

When a marriage is no longer working out, many believe that divorce might be inevitable. As difficult as this trying time may be, it is vital for the couple to seek understanding, aggressive and compassionate divorce attorneys that will fight for their well-being and...

When is bankruptcy the best option to deal with massive debt?

Millions of Americans face overwhelming debt, and the number having trouble making payments could reach as high as 67 million due to the current pandemic, according to a recent survey by the financial website WalletHub. For many, bankruptcy can be a positive step for...

4 ways to keep your estate out of probate court

After you pass away, your estate must pass through probate court, where a judge will oversee your personal representative's settling of any outstanding debts and disbursement of your assets to your heirs. While this process usually is uneventful, sometimes a...

Visit Our Blog

Contact Us For A
Free Consultation