Should I Make A Prenuptial Agreement With My Future Spouse?
The answer to that depends on your specific circumstances, and on the two of you as individuals. Financial planners and divorce attorneys argue that prenuptial agreements should be considered if any of the following particulars apply: there are children involved from a previous marriage, there is an individual ownership of a business or family company, there are significant individual assets or a substantially unequaled income between parties, or there is concern about a future spouse's personal debt. Since laws about what constitute marital property and what governs the division of assets after marriage varies from state to state, a prenuptial agreement can work as a legal protection mechanism for both parties.
Often, prenuptial agreements are misunderstood. It is argued that prenuptial agreements are an attack on trust, or evidence that financial matters outweigh the presence of love in a marriage. This is not necessarily true. Most prenuptial agreements are made by couples who want to bypass the mandates of court in the event of a divorce or death, or couples who have children or grandchildren from prior marriages and want to ensure that individual property such as businesses or estates pass down to the family rather than the spouse. Regardless of the circumstances, prenuptial agreements are a comprehensive decision, and should be approached bereft of emotional misconceptions.
Other Prenuptial Agreements FAQs
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What Is A Prenuptial Agreement?
A: A prenuptial agreement, or a premarital agreement, is a written contract created by two individuals who plan to be married. This agreement lists all … more -
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Do Both Parties To A Premarital Agreement Need A Lawyer?
A: Not necessarily, but the benefits of having one are knowing that the contract is prepared correctly and that you have made an informed decision. The attorney will also … more -
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What Is A "premarital" Or "prenuptial" Agreement?
A: The terms “premarital” and “prenuptial” are used interchangeably. Simply put, this is a legal contract that two people enter into before … more -
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Are Prenuptial Agreements Valid In A Court Of Law?
A: As divorce and remarriage become more prevalent, courts and legislatures are increasingly willing to uphold prenuptial agreements. Although every state permits … more -
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Do I Need A Lawyer Or Can I Prepare One Myself?
A: There is no requirement that you have a lawyer, however, without one (two actually, one for both you and your future spouse) you are setting yourself up for a legal … more -
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Can A Prenuptial Agreement Be Modified After Marriage?
A: Yes. Any terms of a prenuptial agreement can legally be altered or modified in the future, if both parties so decide. Other terms of the prenuptial … more -
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Can A Couple Make A Prenuptial Agreement Without An Attorney?
A: A couple can begin the process of a prenuptial agreement by evaluating their circumstances, discussing what the agreement should entail, and even composing a first … more
