Business and premarital separate assets can be addressed in premarital and post-marital agreements. These agreements are created between marital partners and can cover topics related to property and financial affairs. They cannot cover topics related to the custody and care of children, and there are other prohibited topics that may not be addressed in them.

But, through a marital agreement two individuals may decide that one’s premarital business should remain their separate assets even if the parties decide to end their marriage in divorce. They may stipulate that the other has no claims to collect from the business in the event that the marriage ends and that the owner may emerge from the relationship with their business interests intact.

Ensuring that one’s business interests and assets are protected in a marital agreement is an important step toward protecting their financial security in the even that their marriage does not last. In order to ensure that the terms of such an agreement are clear and comprehensive, a person may want to use the services of a family law attorney. Individuals who work in this particular field of law are knowledgeable about the legal requirements of preparing such documents.

However, as student couples think about their futures, they also have to consider the few assets and loans they own. Between college loans and a high divorce rate, should they protect their assets before they commit to their significant other?

Draft a prenup before planning the wedding

Many students embrace the idea of preparing for the future. For many couples, it includes preparing for the worst-case scenario, divorce. For preparation, most partners draft a prenuptial agreement – a legal contract that establishes how property is divided in case of a divorce.

Couples work together on the prenup and decide how their student debt, current assets and future property plays out in a possible separation. It may account for various situations, such as a change in studies, seeking a doctorate or passing the bar.

Whatever the prenup includes, it starts a critical conversation between partners about sharing finances and what marriage will look like as a student and as a working professional. You should also discuss your career path and your spouse’s goals, so you have realistic expectations of where your education will lead. It will also give you a better understanding of your assets, especially if you have property with your parents.

Students may see a prenup as an invaluable tool for their career, relationship and future.