Finding the love of your life is a beautiful thing. Once you meet the person you love and want, you will probably want to get married and live happily ever after. However, things don’t always go as planned.
A prenuptial agreement is a legal agreement that a couple enters into prior to getting married to protect personal property should the marriage fail to work. But how do you tell if you need to sign a prenup before the big day? Here are three signs that a prenup would be wise:
1. You have a significant amount of wealth
Depending on your age or stage of life at the time of marriage, you may have already made investments and built a considerable amount of wealth. Without a prenuptial agreement, separating personal assets from marital assets can be quite difficult should the marriage end in divorce. This means that all the assets will be divided according to California marital property laws. With a valid prenup, however, you can protect what belongs to you before the marriage.
2. Your partner has a significant amount of debt
When you get married, you share everything with your spouse. And that includes debts. If your future spouse has a hefty credit card bill or a lot of student loans, you might want to sign a prenup agreement to shield you from bearing the burden of debt should the marriage collapse.
3. You have children from a previous relationship
Every parent has a duty to protect and provide for their child. One way of doing so is by preserving an inheritance for them. Should the marriage end without a prenup, your new spouse would claim your assets, and this might leave your children without an inheritance.
A valid prenup can give you peace of mind knowing that what you have worked hard for will be protected in the event of divorce. Find out how you can protect your rights and interests while signing a prenuptial agreement.