Marrying someone and inheriting their debt?

I am planning on getting married in August, but my fiance has major debt issues. If I marry him, am I also responsible for his debt? Is there a way that this can be avoided with some sort of a pre-nup? If so, how much does it cost to have a pre-nup and is it fool-proof?

Marrying someone and inheriting their debt?
someone ask this same question on the Suze Orman show





you are NOT responsible for his debt because you didn't create the debt together or while together (married)





if you get divorced (and i hope not) but if you do that debt remain HIS.





But I do think that his debt will still have an impact on your household because he still have to pay the debt and that will decrease your household income





But in a marriage you have to take the bitter with the sweet





good luck
Reply:NO, you are not going to be responsible for the debts of your partner in case of marriage. Credit contract, personal or institutional, holds responsible for the repaying only parties who actually signed the contract. I do not want to be your personal adviser in private issues. However, a process of getting prenuptial agreement is a good indicator of the engaged party's intentions. At the same time, remember prenup is mostly about assets before, during the marriage and in separation. Debts acquired together in marriage matter in separation. It is fool-proof if it's done properly. Cost from $50 online to $2000 and more. depends on lawyer and contract. May be the following articles will help you to make decision about prenup agreement. http://www.idotaketwo.co


http://money.cnn.com/2004/03/19/pf/prenu...


http://www.lawdepot.com/contracts/prenup





You can find much more through Google.
Reply:You will not get stuck with his debt. Irregardless of what some say, you are only liable for any debt you and your husband incur while married. There is no need for any type of prenup, unless you don't want him to get anything of value that you owned prior to the marriage (i.e. property, stocks, bonds etc) if you divorce him.


However, anytime the two of you try and obtain a loan or mortgage in both your names, his credit report will be used to make a determination.





Hope this helps.
Reply:yes you will be..
Reply:If you marry this person you will NOT inhert his debt on paper but you WILL get the consequences from it...meaning that if he IS paying is debts that is less household income for the two of you...if he is NOT paying the debt, this is a character issue that is indicative of someone who does not honor their commitments...I am not sure which is worse but both are not all that great for the man you are thinking of marrying....


how long have you known this person. Have you noticed problems with irresponsible spending?


A bigger question is WHY is he in this debt. If he is a bad planner and a poor spender, this guy is a poor canditate for a husband! I am sure you love him but you have to be aware of how his irresponsibility will impact your quaility of life.


I would postpone the wedding.


His debt will keep you both from the material things that you might like in the future...how is it going to look when you decide you want a new car and buy one. Do you think he will just smile as his car put putts down the highway?


I doubt it and if you are serious about him I think you know that this is true. Be sure to honestly think this over...what about a house...not much chance you will get one if he doesnt pay his bills.


The prenup will be insulting to him and if you offer it to him he will probably NOT marry you, bu even if he does, I dont see how this takes care of the other problems and what do you do when he asks YOU to use your credit for him...please know he WILL feel entitled since you are his spouse


Pull his credit report.


quite a bit of the time people with bad credit dont disclose the full extent of the problem


RUN
Reply:Contrary to what many may believe, you can inherit debt through marriage in some states... especially community property states.





I know because it happened to me when I married my ex spouse in a community property state and inherited her debt.





After we were married, she filed bankruptcy, but they still came after me for her debts, especially student loans and other debt to government agencies.





I would suggest you consult with a financial advisor to know for sure, and if they say you need to get a pre-nup or whatever, then follow that advice.





If you're in a community property state, it can work for you or against you, even if you're not married but just living together.





So do your due diligence and get consultation first.