Your Guide to Understanding Premarital Agreements
A premarital agreement is also known as a prenup or a prenuptial agreement and is a contract between two people who plan on getting married. The document states who will get what if a divorce occurs, as shown in the example here! If you or your partner is entering marriage with assets, the premarital contract makes it easier for the both of you to separate, see this website for details. The contract is designed to protect the interests of both parties entering marriage.
In pop culture, prenuptial agreements are common among the rich. Someone with a lot of property can marry someone who doesn’t have much without worrying about losing their assets. However, every person should consider getting a prenup for various benefits. People of all classes should consider getting a prenup for separating debts, the determination of financial obligations and rights, and minimizing potential difficulties in case of divorce. Read more here to learn about how a prenup will benefit you.
Prenups are handled very seriously as legal documents in courts, and they are legal in every state. You need to negotiate the contract with your lawyer, and each spouse needs to have their lawyer. This site has more information to help you choose a lawyer, check it out! The agreement needs to be fair for everyone involved, and the disclosure of all assets has to be done. When you do not want to work with a lawyer for your prenup, you need to research extensively about how to prepare the documents so that it is legally sound and written clearly. View here for a useful resource concerning how you can develop a prenup. You can even go ahead and draft the document yourself and then seek professional counsel for necessary adjustments. Discover more about why you should opt for this option here. Click here to get in touch with a prenup attorney.
If you do not want to make a premarital agreement, you end up at the mercy of your state laws in case of divorce. Discover more about what the law says concerning assets during divorce here. . You may end up having to split all of your assets, and some of the property that you owned even before the marriage could be part of what is divided. Learn more about post-nuptial agreements here.
If you do not need to divorce, the prenuptial agreement will never come into play. While you may not even imagine wanting to separate with your partner before marriage, you should be prepared in case this ever happens.
To get started on a prenuptial agreement, click here for more info. These lawyers can help you in designing a prenup for yourself.