Many times, couples enter into their marriage without even considering a prenuptial agreement, but it is something that everyone would have in place. Sometimes, one party fears that bringing the idea up will offend their partner, but the legal agreements are cast aside more often because couples are under the false impression that there is no need for such an agreement if neither of them has any valuable assets. Before you get married, consider the reasons everyone should have a prenup.
- Careers and professional licenses. This often varies with the age of the engaged couple, but it is a consideration because most people change careers several times throughout their working years. If either partner enters into a career that involves a professional license, such as a lawyer, nurse, doctor, or financial advisor, that license can be considered an asset worth anywhere from $30,000 to $1,000,000.
- Family Businesses. If either partner could potentially inherit their family business during the marriage, it is vital to have provisions for that in the prenup. Otherwise, the spouse could lay claim to a portion of the business value in the event of a divorce.
- If either partner inherits substantial wealth or a trust fund during the marriage, it can be considered a marital asset if the money is “commingled.” This could mean buying a house or a car that you each use with the money. Your prenup can protect your inherited assets, even if they are commingled.
These are just a few of the ways that a prenuptial agreement can benefit the individuals entering into marriage, even if neither has any substantial assets at the time. It can also protect you from liability for premarital debt that your partner enters the marriage with. If you are planning to get married, and need to discuss a prenup, contact the knowledgeable attorneys at Davis & Pedrojetti today at (541) 842-2139.
