Marriage is a sacred bond between two people who want to spend the rest of their lives together. There are some instances where a marriage does not work out, leading to months and years of complicated divorce proceedings. A prenuptial agreement is a common legal contract before marriage. It protects the property and financial rights of those involved. The agreement includes provisions for property division, alimony and other financial factors in case of divorce.
A prenuptial agreement must be completed before marriage. Otherwise, it does not hold up in court. Lawyers from both parties should be present during the signing of the agreement. Some states encourage people to videotape the entire process to make sure there was no coercion. Different terms and conditions may be added to the agreement. If these conditions are breached by any one of the spouses, they forfeit their right to receive any assets after divorce.
Prenuptial agreements are a complicated matter because discussing financial issues before marriage can be awkward. Suggestions of a prenuptial agreement may cause distrust between you and your partner. It could suggest that you do not believe the marriage will last.
A judge has the right to rule against your prenuptial agreement and declare some parts of it to be void. Family laws do not allow couples to include child custody or any other child related issues in the prenup.
Signing a prenuptial agreement will protect you financially and results in peace of mind regarding your property. You might be able to protect your family’s business and interests as well. In several cases, prenuptial agreements are enforced by families who feel that a divorce could cause severe losses to their estate and businesses. The hostility between two people who have been recently divorced results in complicated legal conflicts. These conflicts may be avoided if a prenuptial agreement is already in place dealing with all financial matters.
If you and your spouse have discussed the possibility of entering into a prenuptial agreement, it is important to involve an experienced attorney. An attorney will assess your financial situation and assist you in drafting terms that protect you in the case of a divorce.