“I would like a prenuptial agreement, one that says he holds his debt while I keep my.” (The theme of the photo is a model.) – Getty Images/Istockphoto
How do you protect yourself in a marriage? I am not married and I do not want to be -but I could consider it with my partner in about five or six years. I know he will want to marry -and that is important to him.
It has a new house with $ 650,000 in the mortgage. I can’t afford this alone or want it. I don’t want to end homeless if we divorced. I would like a prenuptial agreement, which says he holds his debt while I keep my. What else should I add?
I would like to maintain my own bank account. You will also have your own account. We have discussed a third together account of common expenses such as mortgage, public services, etc. I have no property of any meaningful value. I’m sure you have decent savings. I get out by far.
We will not have children together. He has no children, and I have two children of an earlier relationship that are currently minor, but they will be old before we marry -if things go in the way we think they go.
I recently learned about lands that have been in my family for 150 years. My grandfather ended up giving up both pensions in his divorce to quench his ex-wife to protect this land. This is very important and my family has struggled to keep it.
My uncle who now owns this land contacted me and told me this whole story in recent weeks. He told me that he has four children from the previous marriages he could leave, but some would sell it.
On the other side of my family, I am the only grandson. There is also a surface that someday can finish mine. It is doubtful, but it is possible. The current owner will probably sell developers when the price is correct. If they do not, I will be the only heir.
My partner does not know about this land and does not need it financially. I will not tell you anything about your story or significance. I try to think about: I am also thinking about the possible benders that my children may have, years before driving. Planning is wise.
From what you say, this inheritance, although exciting to think, seems a long way to go. – Marketwatch Illustration
On the paper, it would be the one who would benefit from a prenup.
He owns housing and, over time, will certainly pay this mortgage or the lion’s part. He is also a higher winner, so I suppose, he will have a 401 (K) or the equivalent through his work that will provide retirement income for him after fulfilling 59½.
If you had to divorce, each of us would get out of the marriage what you brought, unless you arrived. The Federal Commission of Commerce and the Consumer Financial Protection Office say that a person is not responsible for the debt of his deceased spouse’s credit card, for example.
Personal loans extracted during a marriage may be more complicated, but especially in the nine community ownership states: Arizona, California, Idaho, Louisiana, Nevada, New Mexico, Texas, Washington and Wisconsin. So your concerns are not completely unfounded.
About 65% of couples say they say Discuss your finance Before hitting or becoming common law partners. This can also explain why almost half of couples discuss finance. But your partner has given you no reason to assume that it will be in a great debt.
There are many things to be included in a PREUP, if you decide to have one, including property, revenue, debts (as you mention), food support and spouse, and according to the Willick Law GroupConfidentiality clauses.
“A confidentiality clause guarantees that each spouse maintains the confidence of the other on the content of their prenuptial agreement and delimits the penalties to violate this clause,” says the law firm based in Las Vegas.
“It is vital for the successful creation of your agreement that you spread all the financial information to your lawyer,” adds the group. “This information will also be shared with your future spouse and will compensate for schedules attached to the agreement.”
Willick also describes what not to include: infidelity clauses, illegal or unfair activities (obviously) and, for those who share children, child custody (“ If there is a divorce, the court will decide in favor of what is best for the child, regardless of what the prenuptial agreement claims ”).
You have what you consider a horn or two: the possibility that you enter one or more inheritance later than life. I have two thoughts about it. First, an inheritance is considered a separate property, so it would import little if you inherited this land now or during marriage.
Secondly, you didn’t tell your partner about this land because you think it is best to keep these letters near your chest. From what you say, this inheritance, although exciting to think, seems a long way to go.
It is important the clarity and transparency on the debts of others. Your partner obviously has been at the forefront of their finances (as far as you know). And it has good reasons to be, since the news has so far been positive: he owns a house, although with a great loan and is a high winner.
Given objectively, your situation would make more sense for your partner to push for a PREUP based on their goods and gains, if or when you marry, because any heritage created in their homes during your marriage could also be considered community or marriage property.
