While appearing on the Marriage Can Win podcast, Attorney Aaron Thomas spoke on the importance of disclosing your full financial situation before getting married:
You're getting married. You've made the decision to get a prenup and realize that you and your future spouse need to have a little more in depth discussion. This is where the rubber meets the road! This is when you've got to have those conversations that are necessary, but they can sometimes be uncomfortable. They can sometimes be difficult.
One of the things that people may not know about prenups is in order for the prenup to be enforceable, both parties have to disclose all of their assets and debts to the other party. So many couples get ready to walk down the aisle and they have no idea that the other one is carrying $50,000 of credit card debt or six figures in student loans. Some couples are hesitant to share that information with each other.
That is a clear red flag and a clear sign that they're not ready to enter into the financial contract of marriage. The law looks at it as combining finances. The credit card company isn't just going to come after the money and the account only in one spouse's name, they're going to come after the money in the joint account as well. These are the conversations that people need to have before they walk down the aisle.