Even if you don’t have a lot of assets when you get married, it can still be a good idea to sign a prenuptial agreement. These documents are generally considered valid in Kentucky and throughout the United States. While some people view prenups as a sign that a marriage won’t last, the documents have become increasingly popular with younger people.
Guard yourself against future debts
If a spouse borrows money during a marriage, you could be responsible for paying off a portion of that balance. That could be true even if his or her name is the only one on the loan. With a prenuptial agreement, you can specify that any debt accrued by a spouse is his or her responsibility. The agreement can also state that each person will be responsible for any debts accrued before the marriage began.
Don’t forget about pets
Couples can create custom agreements as to what happens to their pets if a relationship fails. For instance, a prenup could determine who gets to keep the animal or who pays for its care after a divorce. If the pet needs to be given away, an agreement can stipulate that it not be given to a kill shelter or to a home that has other animals.
Circumstances can change
While you may be making more money than your spouse today, that could change in the future. You never know if you’ll be laid off or decide to stay home to raise a child. A prenuptial agreement can give you the ability to retain a reasonable lifestyle after a divorce. It can also ensure that you’re financially secure after a divorce even if you are required to pay alimony or make child support payments.
Individuals who are going through a divorce might have questions about how to divide property or seek alimony payments. If you have any questions about the divorce process, it may be a good idea to contact an attorney.