Before you make major purchases, you get all types of disclosures. When you write a will and create trust, you get lots of documents that describe what to expect when you die. But, you don’t get anything when you tie the knot. Getting married is a legally significant life event. This is the reason you must understand the laws in your state or the financial implications of tying the knot. Without this information, you won’t be able to make sound legal and financial decisions that are beneficial to your soon-to-be spouse.
Seeing a Lawrence Law Office family lawyer before you get married lets you understand the ins and outs of marriage. When you and your soon-to-be spouse understand the legal and financial aspects, you can achieve long-term marriage success. Here’s you can achieve this goal with your lawyer:
Know Your Rights
When you get married, you and your spouse will have financial and legal benefits. However, you need to recognize how Ohio treats property you may acquire during the marriage. Some of the rights afforded to both of you include the right to open joint bank accounts, file jointly tax returns, get life insurance claims as next of kin, inherit the property of your spouse upon death, and more. While such rights are baked into your marriage contract, you still have to determine if they can help you achieve your goals. Your lawyer will help you decide what’s best for you and your spouse, so you can pick and apply these benefits in a way that aligns with your marriage goals.
In addition, any property acquired during your marriage in Ohio is divided equitably between spouses. Reviewing property and future plans with your lawyer will help you understand what happens to your assets.
Be Clear on Financial Matters
In the state of Ohio, any money earned before marriage belongs to the spouse who earned it. But, you can choose to combine financial accounts with your wife. Your attorney will shed light on dark financial areas you may encounter during your marriage. They will tell you what to expect with your marital assets and finances when you decide to divorce someday. Your lawyer can also explain to you how you can benefit from having a prenuptial agreement.
Financial matters can be hard to deal with on your own, especially as your obligations increase when you start your own family. You may wish to talk to a family attorney to know how income and assets become marital property. This way, you can decide whether this is right for you or not.