Prenuptial agreements, also referred to as a premarital agreement. It enables a couple to place the conditions of property rights for their marriage. There are many misunderstandings concerning what they are and the people who use them. Can a prenup help you?
What Can Prenups Do?
Whereas well off individuals do usually use prenups, those agreements have far more uses than just safeguarding the assets of that well off individual. They can be used for:
- Protecting one party’s assets
- Protecting a party from undertaking the debts of the other party
- Establishing how property is going to be passed upon death
- The clarification of financial rights and responsibilities throughout a marriage
- Avoiding long, costly disputes in divorce cases
When You Don’t Get a Prenup Agreement
Devoid of a prenup, your state has a string of family laws that determine how property is managed throughout marriage and following marriage. In a lot of states for example, your spouse is entitled to:
- Distribute and receive ownership of property obtained throughout the marriage
- Receive some of your property following your passing
- Share in any debts obtained throughout the marriage
- Share obligations in managing property obtained throughout the marriage.
There are a lot of good reasons to diverge from the laws in your state. For example, when you have children from a prior marriage, upon your passing away you might want your property to pass to your children instead of going to your current spouse. The benefit of prenups is that you can create them to meet your specific needs.
Creating a Legitimate Prenuptial Agreement
Initially, these agreements were heavily questioned by judges because they were conventionally used to safeguard a well off person from a partner with significantly less financial means. The concern was that the poorer spouse was being pressured to sign and that those agreements encouraged the termination of marriages. Presently, on the other hand, every state permits prenups, and divorce and remarriages are more generally accepted. Additionally, women are considered to have a more equal place socially and require less safeguarding from courts. Therefore, most prenups are going to be upheld as legitimate.
The Courts Role in Prenups
Courts do, nevertheless, still examine prenups carefully so it pays to do it correctly. Create an agreement that is concise, understandable, and reasonable. If a judge determines that your agreement is unjust or doesn’t fulfill state requirements, the agreement is going to be set aside. Even though it is absolutely okay to negotiate and devise a basic premarital agreement yourself, both parties should get the prenup examined by their own attorney that can counsel them on their rights and examine the prenuptial agreement to guarantee it abides by state law.
Is a Prenup Going to Help You? Find Out With A Family Law Attorney Now
Beginning a conversation concerning a prenup isn’t always the easiest thing to do. Nevertheless, not having that discussion can come back to haunt you in the future. The good news is though, there are family law attorneys that can help you create a prenuptial agreement and, because they are experienced with these kinds of cases, can provide you with counsel on how to initiate that conversation. Get a hold of a local family law attorney today.
Source:
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Can prenup help you? Findlaw. (2018, November 13). Retrieved August 2, 2022, from https://www.findlaw.com/family/marriage/can-prenuptial-agreements-help-you.html
Need an Affordable Prenuptial Agreement Lawyer in Scottsdale?
Moshier Law should be your choice when you need the best prenuptial agreement assistance in Scottsdale. An experienced family law attorney will work with you to obtain the best possible outcome in your situation. We advocate for our clients so they have the brightest future possible. Give us a call today at 480-999-0800 for a free consultation.
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