Burns Law Group, PC
Contact 770-628-1131
GET A FREE Consultation
View Practice Areas

Consider your prenup when buying a home

The point of your prenup may be to protect you in case there is a divorce since you earn a lot more than your spouse. You don't mind supporting your spouse as long as you're married, but you do want to retain your own assets if you get divorced.

A prenup has to be written before the wedding, so, if you're planning to tie the knot and then buy a house as a couple, the house won't initially be in it. It can be wise to consider your prenup as you go through the house hunting process, and you may even want to add it in. Questions to ask include:

-- Are you or your spouse going to pay the mortgage on a monthly basis?

-- Is your name or your spouse's name going to be on the title for the home, or will you both be listed?

-- Will you both be on the mortgage papers, as well, or will it be you alone?

Yes, you live in the home together, but you may wind up thinking of it financially as your own home. You earn enough to afford it yourself. Realistically, your money is paying that mortgage every month.

Do you really want to sell the home and split the proceeds when you get divorced? That would essentially send half of your investment to your spouse. You'd also lose the house unless you bought your spouse out. It may be better to add into the prenup that you will retain the home in full if you get divorced, ensuring that you are investing money in an asset that you'll really keep.

Naturally, every situation is different, but you can see how important it is to consider prenups and post-nuptial agreements. Be sure you know what options you have.

Source: Quicken Loans, "How Alimony and Prenuptial Agreements Affect Mortgages," Dawn Jamison, accessed April 14, 2017

No Comments

Leave a comment
Comment Information
Email Us Today

How Can We Help You?

Choosing an attorney to represent you is a big decision. Give us a call today if you would like to talk to us about your problems and learn how we can help. We offer initial legal consultations free of charge. Call 770-628-1131 or complete this form to reach one of our lawyers in Canton today for your free, no-obligation consultation.

Bold labels are required.

Contact Information
disclaimer.

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.

close

Privacy Policy

Burns Law Group, PC
181 E. Main Street
Canton, GA 30114

Phone: 770-628-1131
Fax: 770-956-1404
Map & Directions

Map & Direction

Connect With Us