My boyfriend has a lot of debt from college loans and he thinks a pre nup would protect me from being financially responsible for those debts if we married and something happened to him. Is this true?
2007-01-29 06:22:33 · 6 answers · asked by inquisitive 1 in Politics & Government ➔ Law & Ethics
With the caveat that the exact answer is dependent on your state law, and that this answer is for information only, and is not legal advice or legal representation:
Even without a prenuptual agreement, student loans, unless co-signed, are generally the sole responsibility of the loan holder. More importantly, debts acquired prior to marriage are the separate debt of the person who incurred the debt, even in community property states.
Unless you have co-signed on the loans (or have consolidated the loans with your loans, or otherwise co-mingled the loans with your debt), they remain his sole and separate debt, and will be separated out in the event of divorce (even in a community property state).
With that said, however, his credit rating may alter your ability to obtain joint credit while you are married. Also, financial stress is one of the leading causes of divorce. With that in mind, you two should create a plan and have a common understanding on how each of your debts will be handled during marriage. By doing this at the beginning, you can prevent arguments later on.
Good luck.
2007-01-29 06:32:02 · answer #1 · answered by Eric 3 · 0⤊ 0⤋
The pre-nup is moot because you are not responsible for any of his debts anyway. You may want to exercize caution when it comes to putting assets in both of your names. Let's say you have a joint checking account. His student loan company can put a lien on the checking account because it is in his name also.
As long as he is not delinquent on his student loans, you have nothing to worry about. Getting a deferment or a forebearance on student loans is very easy. He should check it out if he is having problems.
I want to emphasize that the prenuptual agreement would do nothing to alter the situation as it already exists. If my wife had $1 million in credit cards and $1 million in medical bills, they could never, ever sue me. They could sure her. If we jointly owned a $1 million house, they could attack that asset because it is in her name also. A pre-nup would not protect me from this scenario either. If your boyfriend entered a contract with, say, Capital One, he cannot subsequently enter a contract with you (in the form of a pre-nup) that alters his responsiblities to Capital One.
Save your money. Don't get the pre-nup.
2007-01-29 06:46:03 · answer #2 · answered by Jesus Jones 4 · 0⤊ 0⤋
Absolutely, but I don't think it's necessary for that reason. Debts incurred before marriage are never the responsibility of the spouse.
2007-01-29 06:30:05 · answer #3 · answered by David M 7 · 0⤊ 0⤋
Ya but only if he states that in the prenuptial. You definatly want one for your own protection. You also want the house in your name, pay the taxes with your money not his or shared. Do not co-mingle too many assests until he gets his loans paid off.
2007-01-29 06:34:43 · answer #4 · answered by murkglider 5 · 0⤊ 0⤋
A prenup can safeguard you from despite you want. in case you have some concern over your funds you may upload that or protecting a puppy..you may upload that too. The complicated area is getting the guy you want to marry to agree and sign the prenup.
2016-11-28 03:11:46 · answer #5 · answered by ? 4 · 0⤊ 0⤋
Oh he is so sweet. I like your bf. If he doesn't die though share his debt that's what marriage is...
2016-07-16 02:07:11 · answer #6 · answered by ko 3 · 0⤊ 0⤋