When you and your soon-to-be spouse are making plans to walk down the aisle, one of the most commonly forgotten items to take care of before the “I Do’s” is a prenuptial agreement. While this conversation may not be the most romantic, talking about finances is good practice for married life – these discussions are bound to arise on multiple occasions, and the importance of protecting your assets and property before getting married cannot be stressed enough. In this blog, our Las Vegas prenuptial agreement attorney gives you a checklist of what to include.
Premarital Assets and Debts
Premarital assets are anything you’ve acquired before getting married. A premarital asset can include a savings account, 401k fund, valuable jewelry, your car, and even employee stock options. Before sitting down to draft your prenup agreement, you’ll want to put together a comprehensive list that outlines all of the assets you’ve acquired up until you become legally married.
This includes any assets or debts you and your spouse collect together, as a married couple. When reviewing your agreement, you’ll want to decide how these assets will be handled – will you and your husband or wife own them equally or is there another arrangement that works better for you?
Asset and Income Management
Do you find that you’re better at saving money while your spouse is better at spending? These differences can be very advantageous when deciding how money will be handled in the household. If you enjoy saving money, you’ll probably decide that you will be responsible for monitoring long-term financial goals. If your spouse enjoys spending, he or she will likely be responsible for making the financial decisions and organizing the checkbook.
Need help drafting a prenuptial agreement? Call Leavitt Law Firm today at (702) 996-6052 to learn more about how we can help.