A premarital or prenuptial agreement is a contract between people who plan to get married. This type of agreement entered into after the marriage is called a postnuptial agreement. The purpose of prenuptial and postnuptial agreements is to define each person’s rights in the event of a divorce. At Vayman & Teitelbaum, P.C.
, our experienced Atlanta attorneys work with individuals and couples to draft customized prenuptial or postnuptial agreement. If your fiancé or spouse has already prepared a prenup or postnup, we can review the agreement to ensure your rights are protected.
Prenuptial and premarital agreements have many advantages. Some of these advantages include:
- Lower divorce costs: The cost of a contentious divorce can escalate into the tens of thousands very quickly. A prenuptial agreement that defines the distribution of assets and debts can decrease the number of issues to address in litigation.
- Lower probate costs: A prenuptial agreement can also address the distribution of property in the event one of the parties dies prematurely which can be particularly beneficial if the parties are concerned in protecting the interests of children from a previous relationship.
- Smoother transition into a blended family: Protecting the financial and property interests of the children from a previous relationship has the added benefit of potentially making the often difficult transition into a blended family smoother by providing them with a sense of security.
- Encourages open communication about finances before you are married: In Georgia, a prenuptial agreement is only valid if both parties disclose their income, assets, and liabilities prior to executing the agreement.
- Protecting your business: Most people do not want to be business partners with the spouse of their current partners. A prenuptial agreement can include the necessary precautions by providing that the fiancé waives all rights to any interest in the business in the event of divorce or death. Alternatively, the business-owner spouse may enter into a buy-sell agreement, where upon the death of a shareholder or partner, the remaining owners are required to purchase the decedent’s interest in the business. Or you may want to preserve your business interests for your children.
- Protecting family assets and pre-marital property: A prenuptial agreement can also protect any assets acquired before the marriage, protect ownership of family heirlooms or other family assets.
A prenuptial agreement can be as broad or narrow in scope as the parties desire. A few of the topics a prenuptial agreement may address include:
- The amount and duration of alimony;
- Each parties interest in the other’s pre-marital property;
- The division of property acquired during the marriage;
- Protection against pre-marital debt; and
- Future inheritances.
Alternatively, a prenuptial or postnuptial agreement can address only one narrow topic such as the parties’ interest in real property acquired before the marriage.
Not all issues can be addressed in a prenuptial agreement. For example, agreements as to the amount of child support to be paid in the event of a divorce would not be enforceable. An experienced Atlanta attorney at V&T Law can provide you with guidance as to the enforceability of a prenuptial agreement.
Call toll free at 678-736-7700 to make an appointment with our Atlanta prenuptial agreements attorneys.