Important Items to Include in a Prenuptial Agreement
Getting married in the next few months and looking forward to all the wonderful things that you will get to do with your partner? Although marriage is something you should look forward to, you also need to make sure that you are protecting your assets and all the things you have worked hard to achieve over the years. If you are entering your marriage with a lot of money, property, vehicles, and other valuable assets, you should consider getting a prenuptial agreement. The agreement will protect many of your assets in the event of a divorce.
Retaining the Rights to Property Owned
If you currently own property, you could include details about wanting to retain the rights to the property. For example, if you own a beach house, you may have no problem with your partner using that house and spending time in it for vacation. However, if the marriage does come to an end, you may want to make sure that you have all rights over the property, allowing you to decide if you want to keep it or sell it and get a profit from it. Even if you sell it, you would get to keep the full amount that you would receive from the sale of that property rather than splitting it with your former partner.
When you are debt-free and living a financially secure life, you would not want to find out that you suddenly owe thousands of dollars to creditors because your spouse was running up credit cards and maxing them out. Unfortunately, this does happen in some marriages. It is often one of many reasons why people end up getting divorced in the future. If your partner has bad spending habits and gets into some serious debt, your prenuptial agreement could prevent you from taking on any responsibility for that debt if the marriage comes to an end. While you cannot predict if your partner will get into debt, it is better to avoid taking any chances.
Plans for the Estate
If you know what you would like to do with your estate, you can include details about your plans for the estate in your prenuptial agreement. If you passed away, you might want to have your estate evenly distributed between your children and several other surviving family members. When this information is included in the prenuptial agreement, your surviving partner will need to abide by the plans you made while you were still alive rather than trying to make changes to what happens with your estate after your death.
See a Lawyer for Assistance
Getting a prenuptial agreement is a fantastic idea if you own your own business or if you are making a significant amount of money compared to your partner. The agreement would protect you and your assets if you were to get divorced in the future. It is better to have help from a lawyer with creating the prenuptial agreement than to attempt to complete the agreement on your own. If you are ready to have an agreement created based on your needs, contact Giro Law. You can call us at 201-690-1642 for your consultation.
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