Getting engaged is an exciting time. You are likely busy planning for the wedding, and cannot wait to talk about it with your family and friends. Although this is a time of celebration, it is also time to really consider your future, and how you can protect it. Premarital agreements are no longer only for the wealthy, and they are not seen as the romance killers that they once were. Instead, premarital agreements can actually strengthen your relationship, and provide the security you and your soon-to-be spouse both need. If you are planning on getting married, below are four reasons to get a premarital agreement.
You Own a Business
A divorce can greatly threaten your business. If it is considered a marital asset, which businesses often are, it will be subject to property division rules and therefore, you may have to sell it as part of the divorce. A premarital agreement can identify your business as a separate asset and protect it from being divided or sold.
You Have Been Married Before
If you have been married before, you may have another family and legal obligations attached to them. You may have to pay alimony to your former spouse, or you might have to pay child support. These obligations do not stop when you get married again. A premarital agreement can very clearly outline these obligations and state what funds are going where....