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When most people think prenup, they think of protecting assets. When you don’t have any assets, it’s only natural to disregard the idea. But prenuptial agreements aren’t just something wealthy people should consider. There are plenty of reasons to consider one even if you don’t have a huge net worth.
Planning attorney Ann-Margaret Carrozza tells LearnVest:
It’s very common for someone with a degree of wealth to request a prenup. But it can also be helpful to a partner with fewer assets because individuals will often quit a job or relocate prior to a marriage, and a prenup can ensure that they are made financially whole in the event of a breakup.
They explain that if you quit your job to take care of children, for example, you might have a tough time finding steady income if you get divorced. A prenup would specify the financial support you’d get from your spouse. Another example might be paying for your partner’s education. Should you get divorced, your former spouse would have the degree, and, ideally, the earning potential. Beyond that, prenuptial agreements can also help specify who owns any debt incurred during the marriage if you divorce.
Whatever the scenario, a prenup is obviously something you should consider on your own, for your situation. But the point is, it’s something to think about even if you’re not wealthy. For more info on the topic, check out LearnVest’s full post.
9 Things You’re Embarrassed to Ask About Prenups | LearnVest
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