Prenuptial agreements are not considered to be the most romantic aspect of wedding planning, but they can be one of the most important steps you take to protect yourself and your assets in the event of divorce.
But, how do you know if you need a prenup? Our Tampa divorce attorney recommends that you consider drafting a prenuptial agreement if:
You Have Acquired Significant Assets Prior to the Marriage
Depending on your age or stage of life at the time that you decide to get married, you may have already invested in property or acquired valuable assets. Without a prenup, you will be required to split all assets with your spouse — even those that you acquired prior to the marriage. A prenuptial agreement can help protect what was yours before your marriage.
You Have a Significant Amount of Personal Debt
When you marry someone, you share everything with that person — including your debt. Anyone who has a lot of student loans in their names or a hefty credit card bill may want to consider getting a prenuptial agreement to protect their future spouse from bearing the burden of the debt in the event of a divorce.
You May Receive a Significant Inheritance
Perhaps you have a wealthy grandparent who has made you their sole heir, or maybe your parents have a profitable business that they intend to pass on to you. If you expect a significant inheritance, you should protect that by creating a prenuptial agreement before your marriage. In the event of a divorce without a prenup, you would be obligated to split that inheritance with your spouse.
You Already Have Children From a Previous Relationship
A prenuptial agreement will allow you to protect any children from a previous relationship by preserving their inheritance. Without a prenuptial agreement, your assets would go to your spouse during a divorce and your children may not receive anything.
You Plan to be a Stay-at-Home Parent When You Have Children
Making the choice to leave the work force to raise children can have a significant impact on a person’s ability to earn income in the future. A prenuptial agreement can protect you and ensure that you receive the financial support you need in the future.
While no one wants to talk about the potential end of a marriage before it even begins, it is very important to discuss all of these topics prior to walking down the aisle. When you work with a qualified Tampa divorce attorney, you and your future spouse can draft a prenuptial agreement that will protect you both for years to come.
If you have questions for a Tampa divorce lawyer, or are unaware of the terms and conditions of a Tampa divorce, talk to, and retain, a family law attorney who can help. Contact Damien McKinney of The McKinney Law Group to discuss your case further. He can be reached by phone at 813-428-3400 or by e-mail at [email protected]