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How Can a Prenuptial Agreement Help Deal with Existing Debt?

Last updated 4 years ago

Prenuptial agreements are no longer taboo, and can be very helpful to couples joining their finances in marriage. This video outlines the ways that partners can use these contractual agreements to deal with debt accrued by only one partner.

In a community property state such as California, debts accrued during marriage become shared burdens. However, when one spouse enters the marriage with significantly more debt than the other, he or she can use a prenuptial agreement to legally delineate that only that spouse is responsible for paying that debt off. This can protect the non-debtor spouse from creditor phone calls.

If you need help drafting a prenuptial agreement with your partner, make an appointment with a local family law attorney. These experienced practitioners can help protect your assets and your debts as you join in legal union. San Jose-area couples thinking about a pre-nup should call (408) 266-9011 to speak with the legal team at Moreno Family Law.

 

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