Prenuptial Agreement
Definition: prenuptial agreement, (premarital
agreement), prenuptial agreements, prenup:
A prenuptial agreement (also known as an antenuptial agreement or prenup) is a signed and notarized agreement made by a couple before marriage that concerns various financial issues such as the control and possession of property and other assets taken into the marriage and later obtained during the marriage either individually or jointly, as well as the couple's future earnings, and how such property or assets will be distributed in the event of divorce or death.
Why a Prenup?
Although many couples might not find signing documents such as prenuptial agreements to be very romantic, if either you and/or your fiancé have been divorced , you probably already know how valuable a prenup / prenuptial agreement can be. Couples with significant assets and/or children should consider having an attorney draft a prenuptial agreement or, at the least, Download Prenuptial Agreement Forms or Templates to create your own prenup and save yourself some money. Couples without a prenup will have their assets distributed for them by the state if the marriage ends and they disagree about who should get what. Without this important prenuptial agreement document you are allowing your financial future to be determined by the state. Discuss the prenup possibilities. Believe it or not, having this prenup discussion might actually help build a mutual trust and relieve some anxiety about getting married. Communication is key in a relationship so begin to strengthen this skill now by talking about the hard stuff – prenup tial agreement.
Where to Start – Prenuptial Agreement
A prenup can help protect funds either spouse may have saved for a child's college education or their own retirement, prior to the marriage. Having this prenuptial agreement drawn up before the wedding can save you time, emotional trauma and of course, money if the marriage does happen to fail. Sit down with your partner and make a list of all assets. You will be best served by contacting a prenup attorney in your state who specializes in divorce and remarriage. Each partner should hire their own prenup attorney to write a prenuptial agreement. This helps avoid any charges of fraud if the marriage ends in divorce. If either partner has children from a previous marriage, clarify their property rights and how they'll be supported, both during the marriage and in case of death or divorce. The prenup attorneys co-write the prenup / prenuptial agreement with their clients' best interests in mind. Use any combination of prenuptial agreements, living trusts, custodial accounts and wills.
The prenuptial agreement should be signed in triplicate, each partner getting an original prenup, and a third prenup kept with an independent lawyer, CPA or in a banks safety deposit box. A prenuptial agreement can offer much needed peace of mind and security.
Please be advised that consulting an attorney in your state, even after reading and/or completing any free or purchased prenuptial agreement templates or forms and/or books is highly recommended. We cannot answer specific legal questions from this prenup website or in our forum. |
|
