 | What is a prenuptial agreement? A prenup is a physical document that lists the division of property and debts acquired by a couple before entering into the sanctity of marriage. Statistically, half of all marriages end in divorce, so covering your bases before tieing the knot is highly advisable even if you do not have a great fortune to negotiate. Other names for a prenuptial agreement include : antenuptial agreement and some names may interchange the word "agreement" for the term, "contract". |
|
|
1. Declare future inheritance to children from a previous relationship :
If no documentation says otherwise, the surviving spouse may be declared the recipient by the state in the even of a death, thus eliminating children from a previous relationship as heirs to the estate if the subsequent marriage never occurred.
2. Avoid disputes during a divorce :
Before entering into marriage, property previously owned may be declared and restrictions regarding alimony may be set forth. All states handle post marital litigation differently, so no alimony may not be an option.
3. Clarify Financial Responsibilities :
Before entering into marriage, a couple may want to indicate in writing what bills will become the responsibility of either spouse. Other financial restrictions may be placed on access of accounts as well.
4. Indicate Spousal Expectations :
Some couples choose to add to their premarital agreement expectations in regards to sexual relations, house and grounds duties, or even relate the amount of alimony to whether a spouse cheats during the marriage. |
|
Contrary to popular belief jotting down a list of agreements on a piece of paper or cocktail napkin does not fly in a court of law. A prenuptial agreement is a contract between two parties, much like a business agreement. Any judge will take into account the legitimacy of how the marital contract was formed when determining its validity in determining how a couple will part ways.
1. Both future spouses must voluntarily take part in the creation of a prenuptial agreement document.
2. Both future spouses must be open with each other's motives for making and enforcing the document.
3. Both future spouses must sign the agreement in the presence of a notary republic. |
|