While the idea of signing a prenuptial agreement may seem distasteful for reasons that are understood, they do make a lot of sense. It is better to discuss financials at the beginning of an engagement, rather than later on when your responsibilities have built up. And while prenuptial agreements may be a sour subject, it is a conversation that needs to be had. If you are on the fence about whether or not you and your partner should sign a prenuptial agreement, keep reading below for a few reasons why you should.
If you are a business owner or you are a partial business owner it is highly advised that you sign a prenuptial agreement with your partner. In the case that the marriage does end, your spouse could end up receiving a share of your business. By signing a prenup, it helps to prevent your spouse from becoming an unwanted business partner.
You Are Wealthy
If you are much wealthier than your partner, having them sign a prenuptial agreement will help ensure that they are marrying you for you and not for your money.
Assets You Want Separate
Let’s say your parents’ old house or vacation house is left to you. This may be an asset that you want to keep to yourself rather than sharing it with your partner.
Are you due to receive a large inheritance at some point in life? Inheritances are typically considered to be separate property, but if community property income is added to your inheritance assets, it can get a little difficult when it comes to auditing. If you want to keep your inheritance asset separate from your community income, be sure not to add them together in something like an investment account.
Don’t Trust Your Partners Spending Habits
If you find yourself concerned about the amount of money your partner is spending, then signing a prenuptial agreement is the best route to take. In the case that you do decide to divorce and your partner has a lot of debt you don’t want to find yourself stuck with half of that.
Signing a prenuptial agreement prior to marriage is not always an easy thing to do, but just keep in mind it doesn’t mean your partner thinks your relationship isn’t going to last. Prenups are just there to help preserve expectations of each spouse and to prevent any surprises in the case of a divorce.
Mestayer Law Firm provides civil litigation for clients throughout the Gulf Coast area including Pascagoula, Biloxi, and Gulfport. If you are making future plans for your estate, then contact us today and let us help take care of every detail of your finances. Call us today at 228-762-1193 or visit www.pascagoulalaw.com. We are your legal experts! You can also visit our office located at 2128 Ingalls Ave. in Pascagoula, Mississippi. We look forward to talking with you!
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This article does not create an attorney-client relationship. I am licensed to practice law in Mississippi and have based the information presented on US laws. This article is legal information and is for entertainment and informational purposes only and should not be seen as legal advice. You should consult with an attorney before you rely on this information. Any information provided in this blog is accurate and true to the best of my knowledge, but that there may be omissions, errors, or mistakes.