Do You Need A Due Date? 4 Questions To Ask Before Marriage

No one thinks about the outcome at the beginning. But more and more women should consider protecting their wealth when they divorce. Considering the prenuptial agreement will make the conversation between you and your spouse very difficult. But the important thing is when to understand the financial situation of your relationship is very important. These four points are very important. If you can answer one of these questions, you may want to consult a lawyer to further understand the choice of a prenuptial contract.

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Are you a business owner?

If so, don’t let it go, don’t charge $200! You know this exercise. This is one of the most important problems you want to solve before you get married, This is not because you think your new partner will come to you. This is about protecting the business you have built. What you should consider is how your business can sustain itself, or as a new partner, you must make significant investments to maintain its operations.

If business becomes a partnership, it becomes more important. In this case, your ex spouse can eventually have the right to continue to own your business at the same time of divorce. Or they may eventually need to be acquired, which may be a huge expense. Even profitable emerging enterprises can’t digest it.

2. How important are your personal assets?

Do you already own a house or other major property in your name? Especially when women start to marry in their later years, we are likely to have accumulated some wealth in this process. If you have been committed to major investment and have a large amount of savings or material deficits, you are worth further talking with lawyers. Public property laws in many states provide for assets that are now owned after divorce. This means that you can’t own everything, so you need to know how the property is distributed. This is especially important if your asset base is very different from that of your new spouse.

What is your debt situation and extent?

The marriage of the millennial generation is more in debt than any other generation before us. So you and your spouse have a lot of student debt(Viva University) Or other consumer debt can be linked. A prenuptial agreement helps determine who owes what at the end of a marriage. Topics such as debt splitting or financial responsibility for joint debts during marriage may vary depending on state law and many other factors, so lawyers must be consulted to resolve these details. Must be done.

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Will life change a lot?

This type is a bit vague, but marriage is often accompanied by other major life changes. For example, if your new spouse returns to school, one of you may temporarily stop working and stay at home, or even move to another state to rest in income generating activities. You may also be planning to have children. I want to know what will happen to your financial situation in this case. If you find yourself focusing on one of these situations, you may want to know the financial impact of these options.

If you decide that your new partner will continue to work and go to school full-time, this will cause serious financial pressure in the case of divorce. The prenuptial agreement helps to determine the cash flow expectation. Even temporarily, if things do not go according to plan, the spouse can return to the state of maintaining their lifestyle.

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This conversation sounds terrible. How can I talk about it?

It is not your intention or difficult conversation to improve the possibility of a prenuptial agreement. Of course, this should not be the first time you talk about finance, money and how you can create wealth together in your life.

So start small and make sure you have made your finances part of your wedding and new life plan. Just like you choose ceramic patterns(ha!) The sofa of the apartment. You should already know how much debt your spouse owes, their spending habits and their views on saving. These early dialogues may help to identify differences, understand the main differences in living environment and lifestyle, and hope to strengthen the protection of premarital contracts.It is an unreliable personal decision to finally decide whether you and your spouse need a prenuptial agreement. But most studies show that women’s financial situation after divorce is far worse than that of men. More importantly, money is one of the biggest stressors in interpersonal relationships. Therefore, whether there is a prenuptial agreement or not, you should carefully consider your financial situation and start your new life together through thorough discussion.

Have you ever had a prenuptial agreement? How would you talk to your spouse about this?