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 in case of divorce, look at the sample here to know how it’s structured. If either of you is entering marriage with assets, the premarital contract makes the process of separation easier, read more now! The contract is designed to protect the interests of both parties entering marriage.
In pop culture, premarital agreements are mainly prevalent among the rich. Someone with a lot of property can marry someone who doesn’t have much without worrying about losing their assets. Various benefits can, however, be achieved by all people when they sign a premarital agreement. Some of the benefits include separating debts, determining financial rights and obligations, and minimizing potential problems in case of divorce. Read more about why you need to get a prenup here.
Prenups are handled very seriously as legal documents in courts, and they are legal in every state. You are required to negotiate the contract with your lawyer, thus the need that each spouse has 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. Click for more on professional legal counsel on your prenup here. Click here to get in touch with a prenup attorney.
You get yourself at the mercy of your state laws if you choose not to have a premarital agreement. You can use this product to understand your state laws concerning divorce. . You may find that you have to split all your assets, and in some cases, even the property that you owned before the marriage is going to be divided between you and your partner. Learn more about post-nuptial agreements here.
If you do not need to split, the premarital agreement never comes into play. Therefore, while you may not be intending to divorce before you’re getting married, make sure that you are protected in case this happens.
Learn more about how to get started on a prenup by clicking here. To get legal help in the process, click on this page.