Many couples simply do not take wise precautions when approaching marriage, leading to problems down the road that could easily have been avoided with some careful planning and intentional conversations about hard issues. One of the biggest relationship killers is a difference in how each spouse approaches finances, which may seem small, but has ended many marriages in the long run. Unfortunately, even those who pursue premarital counseling rarely take the time to truly understand their partner’s financial life.
One of the best ways to set yourself up for success in a marriage and protect your future spouse is by working together to create a prenuptial agreement. A key aspect of prenuptial agreements that many couples do not take advantage of is its ability to protect one spouse from another spouse’s debt — a benefit that begins as soon as you are married, not if you divorce.
That’s right — a prenuptial agreement can protect marriages that never end in divorce at all! Debt is considered marital property, and unless you take specific steps to stop this, when you get married, you become liable for your spouse’s debt and vice versa.
Not only can a prenuptial agreement protect one spouse from the other’s debt, the process of creating your agreement with your partner is an invaluable way to truly learn about the way the person you love approaches money. This time together, creating a document that protects each other and your marriage as a whole, may be some of the best marriage preparation you could get anywhere.
If you are ready to create the best agreement in your relationship, be sure to consider the guidance of an experienced attorney. With proper legal help, you can ensure that your agreement is legally sound and truly offers the person you love the protections they deserve.
Source: Newsmax, “The Price of Love: What Celebrity Divorces Teach the Rest of Us,” Juliette Farley, May 04, 2017