NATIONALLY RECOGNIZED FEDERAL LAWYERS
Last Updated on: 2nd October 2023, 06:51 pm
What Are Prenuptial Agreements?
It is common for couples to sign a prenuptial agreement before they get married. It will establish the financial rights and property rights if a couple were to get a divorce. It is a good idea to get a prenuptial agreement because half of marriages end in divorce. Many people think that prenuptial agreements are just for the wealthy. However, everyone who is getting married should consider getting a prenuptial agreement.
What Will a Prenuptial Agreement Do for Me?
A prenuptial agreement can:
- Protect a party’s assets
- Protect the party from taking on the debt of another person
- Determine how a property will be divided after death
- Clarify all of the financial rights after a divorce
- Avoid a long, costly dispute if you were to get a divorce
How to Make Sure That Your Prenuptial Agreement Is Valid
It is important to make sure that your prenuptial agreement is valid. In order for the agreement to be considered valid, it must be fair to both of the parties that are involved. Even though it is possible to come up with your own prenuptial agreement, it is best to have it reviewed by an attorney.
The Top Benefits of Having a Prenuptial Agreement
A prenuptial agreement can provide the following benefits:
- If one spouse accumulates debt, then it will prevent the other spouse from taking on that debt.
- If you have a business, then a prenuptial agreement will protect that business.
- If you gave up a lucrative career to get married, then your prenuptial agreement will ensure that you are compensated for the money that you have lost.
- It can limit the amount of spousal support that you have to pay after the marriage.
- Protect the financial interests of the wealthy.
What Is a Postnuptial Agreement?
A postnuptial agreement is similar to a prenuptial agreement. The only difference is that you make a prenuptial agreement before you get married, and the postnuptial agreement is made after you get married.
Why People Decide to Get a Postnuptial Agreement?
People decide to get a postnuptial agreement for the same reasons that they decide to get a prenuptial one. However, some people decide to get a postnuptial agreement because they want to change the terms of their prenuptial agreement. It is important to note that neither prenuptial nor postnuptial agreements provide provisions for child support or child custody.
Why a Prenuptial or Postnuptial Agreement May Be Invalidated
A prenuptial or postnuptial agreement may be invalidated if:
- There is no written agreement – Regardless of the terms and conditions you and your spouse agree to, it will not be valid unless you get it in writing.
- One or both of the parties were pressured to sign the agreement.
- The prenup or postnuptial agreement has false information.
- The provisions in the postnup or prenup are invalid.
Why It Is a Good Idea to Have an Attorney When You Make a Prenuptial And Postnuptial Agreement
One of the best things that you can do to ensure that your prenup will be valid is to hire an attorney. Your lawyer will make sure that everything in the prenup is fair for you and your spouse. There may also be a time limit that applies. Your attorney will make sure that you meet the deadline.
There are a lot of laws that you and your spouse will have to abide by. That is why it is best to consult with an attorney before you come up with the draft. The attorney will make sure that everyone’s best interests are protected.