If you’re getting married, there are many things you’ll need to discuss with your soon-to-be spouse. This includes how you’ll handle rights to any shared property. Depending on how your discussion goes, you may need to work with a family attorney in Rock Hill, SC or Fort Mill, SC to discuss prenuptial agreements. There are many misconceptions about these documents. Here are a few things the Jamieson Law Firm wants you to know.
What are prenuptial agreements?
Prenuptial (or premarital) agreements allow couples to arrange marital property rights before the marriage takes place.
Why are they important?
While prenups can protect your assets, they can also protect you from having to assume your spouse’s debt should the marriage end. A prenup can also define financial responsibilities between spouses and define who take ownership of any property upon you or your spouse’s passing. And of course, should you get a divorce, a prenup can help simplify matters.
What happens if you decide not to get a prenup?
Without a prenup, the state must follow a series of procedures to determine how your assets will be managed either during your marriage or after it ends. Without a prenup, the assets you’ve worked hard to obtain could be distributed to your spouse if the marriage ends. These agreements make sure everyone has a common understanding.