Prenuptial agreements are incredibly common these days. With the divorce rate staggering around 50 percent, or one in every two marriages, it only makes sense to protect your assets, including property and inheritance in the event of a divorce.
A prenuptial agreement is a legally binding agreement signed before marriage that will in most cases determine how assets are to be split in the event of dissolution of the marriage. Anyone can benefit from having a prenuptial agreement in place, as it can reduce arguements, unpredictability and fear that accompany the divorce procedure. You may especially want to have a prenuptial agreement in place in the following instances:
- If there is a large disparity between incomes
- If you have any children from a previous relationship
- If you have been married before
- If you have ownership of a family owned business, property or farm
The Facts Surrounding Prenuptial Agreements
In order for a prenuptial agreement to stand up, there need to be certain previsions in the document and full and fair disclosure of the earnings and property of each party. Furthermore, both partners must have the opportunity to consult with a lawyer. The agreement must be signed by both people and there must be a statement of the assets, debts and income of the parties attached.
There are some instances when a prenuptial agreement will not be valid and this is the case if circumstances have changed dramatically since signing the document. Things such as, whether children are involved, the incomes and earnings during the marriage and inheritance may all be considered. However, having the agreement in place prior to marriage provides an excellent starting point for any dissolution of marriage and can make the whole process simplified and much less stressful for everyone.
Prenuptial Agreements While Married
Many engaged couples are simply too romantically involved to even consider the idea that one day they may grow apart. However, as you start to build a life together you may decide that you want something in place to protect the different assets you accrue during your marriage.
Postnuptial Agreements A postnuptial agreement is similar to a prenuptial agreement but is written and signed after you are already married. If this is something that you are considering, for whateverreason, then contact US prenuptial/postnuptial agreement lawyers. Lawyers help with you the procedural requirements, paperwork and all other aspects pertaining to postnuptial and prenuptial agreements.