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Prenuptial Agreement

Prenuptial Agreement

When you get married, you likely think about the happy future that awaits you. You may not give much thought to the possibility of a divorce, but it’s something that should be considered. If you’re thinking about getting married, it’s important to consider whether or not you should have a prenuptial agreement. A prenuptial agreement is a document that outlines what will happen in the event of a divorce. It can help to protect your assets and ensure that you both come away from the marriage with what you bargained for. If you’re on the fence about whether or not to sign a prenuptial agreement, here are some things to consider.

Do I have to sign a prenuptial agreement before marriage?

It depends. In some states, prenuptial agreements are required in order for a valid marriage contract to be formed. In other states, they are not required but may be a good idea.

Generally speaking, these agreements are beneficial because they allow couples to decide ahead of time how property and assets will be divided in the event of a divorce. Without a prenuptial agreement in place, these decisions would likely have to be made in court, which can often lead to messy and expensive litigation.

If you are considering signing a prenuptial agreement, it is important to consult with an attorney who can help you draft an agreement that is fair and legally sound.

What Does Prenuptial Agreement Do?

prenuptial agreement

A prenuptial agreement, also known as a prenup, is a contract signed by two people before they get married that outlines what will happen to their property and finances in the event of a divorce. It can also include provisions for child custody and support.

Prenups are typically used to protect the assets of one or both spouses in the event of a divorce.

Prenups can also be used to dictate how property and assets will be divided in the event of a death, or to set forth specific provisions for spousal support in the event of a divorce. Generally, any property or assets that are acquired during the marriage are considered marital property and will be divided equally between both spouses in the event of a divorce.

Are There any Exceptions to Prenuptial Agreement?

There are a few exceptions to prenuptial agreements, but they are typically rare and specific cases.

Prenups can be voided if they were not executed properly or if they contain fraudulent information. Additionally, courts will sometimes void prenuptial agreements if the agreement would lead to an unfair result. For example, a prenuptial agreement may be voided if one party is significantly older than the other or if one party is not given fair disclosure of the other’s finances.

Here’re some of the reasons can void the prenup:

  • One party didn’t have proper legal representation when the agreement was drawn up
  • The agreement was not fair and equitable when it was created
  • One party fraudulently induced the other person into signing the agreement
  • One person signed the agreement under duress or coercion
  • The agreement contradicts existing public policy.

What Happens If You Don’t Sign a Prenup?

If you don’t sign a prenuptial agreement prior to getting married, the state’s laws will govern the distribution of your assets and debts in the event of a divorce. Generally, most states will treat all marital property and debts as jointly owned by both spouses, even if only one spouse technically acquired or incurred the debt. This can often lead to disputes during a divorce over who owes what and can result in lengthy and costly litigation.

For these reasons, it’s generally advisable to sign a prenuptial agreement prior to getting married. A prenup can help protect your assets and minimize disagreements over property division in the event of a divorce.

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