MIAMI, Florida. You are young, poor, and are getting married. Many young couples don’t think that they need to worry about prenuptial agreements because they don’t have any money. Other young couples don’t want to think about the possibility of divorce. But, even if you are young and poor, you might still want to consider getting a prenuptial agreement before you tie the knot. Why?
Couples who have few assets could be just as vulnerable during divorce as couples who have many assets. Poorer couples may take on more debt during their marriage. According to Time, if you and your partner plan to take on debts after you get married, both of you could be considered responsible for the debt. While some couples aren’t too worried about the sharing the debt burden for credit card debt or a car loan, many couples wouldn’t necessarily feel comfortable knowing that their partner’s student loan debt is their responsibility. If your partner takes on student loan debt after you get married, both of you could be on the hook, even if only one of you receives the education. If you see years of schooling in your future for one person or both people in the marriage, you and your partner may want to consider a prenuptial agreement to make clear which debts are shared burdens and which debts are to be attached to each individual in the marriage.
Prenuptial agreements require young couples to think about their financial future. If you haven’t yet had a conversation about money with your partner, a prenuptial agreement can help jump start that conversation.
Prenuptial agreements can protect other rights as well. Most states treat animals as property. In a prenuptial agreement, you and your partner can discuss shared pet-parenting rights. Other modern prenuptial agreements include social media clauses that protect both partners from being defamed on social media should the relationship go sour
According to Refinery 29, people are also marrying later, meaning that they’ve had more time to accumulate wealth, savings, and debts. A prenuptial agreement can clarify which property is communal and which property is marital. Millennials are also graduating with more student loan debt. In order to protect each other from unreasonable debt burdens, more millennials are using prenuptial agreements to clarify debts.
No one wants to consider the possibility of divorce right before they get married, but if you are tying the knot soon, you may want to consider the value of a prenuptial agreement. Sandy B. Becher, P.A. is a prenuptial agreement lawyer in Miami, Florida who works with couples who want to understand their rights and options before they get married.
Already married? Regret not getting a prenup? There are still options. You can always draft a post-nuptial agreement. However, in general, it is usually better to clarify financial concerns before you get married. If you are thinking of getting a prenup, visit Sandy B. Becher at https://sandybecher.com/ to learn more.
