Your recent engagement to your significant other in Florida has you shuffling through a variety of emotions, most of them positive. While you know about prenuptial agreements, you do not have much in the way of assets, which means you do not really need a prenup, right?
Money explains how prenups are for so much more than money matters. See for yourself why you may want to reconsider forgoing a prenuptial agreement.
The existence of debts
Maybe you and your soon-to-be-spouse have more debts than assets. If so, you remain responsible for unpaid debts you co-signed on while married if you and your partner should divorce. Note that debts accumulated separately before the marriage are not community property.
You remain in control
During a divorce, splitting couples give up a lot of power and control to the courts, which does not always align with the couples’ desires. By signing a prenup, you have more of a say over alimony, asset division and debt.
Strengthen your relationship
It takes a lot of courage to bring up a prenuptial agreement with your betrothed. It most certainly is not the most romantic conversation to have; some may view it as an outright attack on their loyalty and doubt their partner’s intentions. When you understand the benefits of such an agreement and can break them down to your future spouse, you demonstrate a measure of foresight and caring in regards to your significant other and the relationship you share. You want to protect him or her should your marriage end. This level of consideration can serve to deepen your relationship.
This information is only intended to educate and should not be interpreted as legal advice.