Getting Married? The Prenuptial Agreement Must Come First
If you are getting married and you want a prenuptial agreement in place, a divorce or marital expert is the perfect attorney for the job. There are many reasons why people protect themselves with prenuptial agreements, and you don't want to be on the Americans that regrets not having one. A divorce can end up leaving you bankrupt years down the road if you don't have a prenuptial agreement. You could accumulate a lot of wealth and money in the future, and then your spouse decides they want to leave.
You will want to talk with your lawyer about adding the following things, even if you don't have a lot of money before you get married:
If you already have retirement accounts that you put money into each payday, you shouldn't have to share money that was already saved if you get divorced. Have your lawyer put in the document that all previous retirement earnings and savings, like a 401k or pension plan, won't be divided. If you don't want any of the money you save to be split with your spouse, you can add this in as well.
Assets and Investments
Are the two of you going to live in a house that you already own? Do you own a car, boat, or another large asset that you wouldn't want to split? You can put in the agreement that the assets would be yours, and that they wouldn't need to be sold or split in the event of a divorce. If you are invested in a business, if you have rental properties, or you have other financial investments besides typical stocks or mutual funds, protect those as well.
If you make more money than your future spouse, or if they are going to stay home with the kids, they may come after you for alimony. The laws and limitations for this amount are different in each state, but you don't want to pay it regardless. Put that you won't pay any type of alimony in the agreement, and your spouse won't be expecting it.
These are things that will help you stay financial stable if you decide to get a divorce, and your future spouse won't be able to talk away from the marriage with half of everything plus alimony. Talk with a divorce professional to make sure that your prenuptial agreement is 100 percent perfect.
To learn more, contact a professional like Andrew H. P. Norton with any questions you have.