The Basics
What is a Prenuptial Agreement?
A prenuptial agreement is a written contract between two people who plan to get married. They are also sometimes called premarital agreements or ante-nuptial agreements. They're all the same thing.
What can a Prenuptial Agreement do?
Put simply, a prenuptial agreement decides who gets what. In other words, it tells the court how certain property should be divided if the parties get divorced. It can also specify which spouse is responsible for paying certain debts created during the marriage. A prenuptial agreement can even be used to grant or deny alimony if the parties get divorced. Essentially, a prenuptial agreement can do anything that does not violate the law or public policy.
What can’t a Prenuptial Agreement do?
We've already seen that a properly drafted prenuptial agreement can be used for a variety of purposes. But, they do have their limits. Specifically, a prenuptial agreement cannot be used to waive child support. You also cannot agree to waive what courts call temporary alimony or attorney’s fees during a divorce case. As we said earlier, a prenuptial agreement cannot be used to do anything that violates the law or public policy.
Why do you need a Prenuptial Agreement?
Great question. The truth is, maybe you don’t. Some lawyers may never admit that, but at Just Divorce, we’re not here to pressure you into something that you don’t want or need. Our clients trust us because we give them the facts let them decide for themselves.
That said, there are advantages to a prenuptial agreement. And there are real risks to getting married without one.
We get why no one wants to think about divorce before they even get married. But there is a world of difference between planning for a divorce and planning in case of a divorce.
There's an old joke about how half of all marriages end in divorce while the other half end in death. It's not the funniest joke in the world, but there is an element of truth to it. Many marriages today do end with spouses going their separate ways. A well-drafted prenuptial agreement can make the divorce process faster and a whole lot less expensive if and when the time comes.
A good prenuptial agreement covers not only the property that each spouse brings into the marriage, but also covers the property that they acquire during the marriage. This is important because property acquired during a marriage is presumed to be marital. That means it belongs to both spouses regardless of who actually acquired it. The same is true for debts created during the marriage. But, a prenuptial agreement can be used to limit the scope of what constitutes marital property and marital debts. For example, the parties to the agreement can specify that property belongs to the spouse who acquired it, or whose name is on the title.
A prenuptial agreement can also be useful in establishing the terms of alimony after a divorce. The agreement can eliminate alimony completely, or it can limit the type and amount of alimony that either spouse may receive. For example, there could be a provision that says one spouse gets $5,000 per month for a period of no more than two years – but only if the marriage lasts more than ten years. These kinds of arrangements are most common when one spouse has substantially more income than the other.
So, if prenuptial agreements are so useful, why don’t more people use them? The answer is, they do. Prenuptial agreements have become more popular in recent years as people from all walks of life learn more about the benefits that they provide. But, we understand that this is not an easy topic for many people, largely due to some common misconceptions about prenuptial agreements and the way that they work.
For one, there is this idea that only rich people need prenuptial agreements. But, that simply isn’t true. Anyone who plans to get married and has assets that they want to protect can benefit from a prenuptial agreement. This includes, among others, homeowners, business owners, and retirees on a pension.
But, is a prenuptial agreement enforceable? The answer yes, of course. As long as it satisfies all of the legal requirements, a prenuptial agreement is completely valid and will be enforced by the court in most divorce cases.
We have seen the popularity of prenuptial agreements surge recently as more and more people are convinced of their benefits. Having a Just Divorce lawyer on your side can mean the difference between a valid contract that protects your rights, and an unenforceable agreement that isn’t worth the paper it’s printed on.
That said, there are advantages to a prenuptial agreement. And there are real risks to getting married without one.
We get why no one wants to think about divorce before they even get married. But there is a world of difference between planning for a divorce and planning in case of a divorce.
There's an old joke about how half of all marriages end in divorce while the other half end in death. It's not the funniest joke in the world, but there is an element of truth to it. Many marriages today do end with spouses going their separate ways. A well-drafted prenuptial agreement can make the divorce process faster and a whole lot less expensive if and when the time comes.
A good prenuptial agreement covers not only the property that each spouse brings into the marriage, but also covers the property that they acquire during the marriage. This is important because property acquired during a marriage is presumed to be marital. That means it belongs to both spouses regardless of who actually acquired it. The same is true for debts created during the marriage. But, a prenuptial agreement can be used to limit the scope of what constitutes marital property and marital debts. For example, the parties to the agreement can specify that property belongs to the spouse who acquired it, or whose name is on the title.
A prenuptial agreement can also be useful in establishing the terms of alimony after a divorce. The agreement can eliminate alimony completely, or it can limit the type and amount of alimony that either spouse may receive. For example, there could be a provision that says one spouse gets $5,000 per month for a period of no more than two years – but only if the marriage lasts more than ten years. These kinds of arrangements are most common when one spouse has substantially more income than the other.
So, if prenuptial agreements are so useful, why don’t more people use them? The answer is, they do. Prenuptial agreements have become more popular in recent years as people from all walks of life learn more about the benefits that they provide. But, we understand that this is not an easy topic for many people, largely due to some common misconceptions about prenuptial agreements and the way that they work.
For one, there is this idea that only rich people need prenuptial agreements. But, that simply isn’t true. Anyone who plans to get married and has assets that they want to protect can benefit from a prenuptial agreement. This includes, among others, homeowners, business owners, and retirees on a pension.
But, is a prenuptial agreement enforceable? The answer yes, of course. As long as it satisfies all of the legal requirements, a prenuptial agreement is completely valid and will be enforced by the court in most divorce cases.
We have seen the popularity of prenuptial agreements surge recently as more and more people are convinced of their benefits. Having a Just Divorce lawyer on your side can mean the difference between a valid contract that protects your rights, and an unenforceable agreement that isn’t worth the paper it’s printed on.
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