If you are unfamiliar with prenuptial agreements, they are a type of contract for people seeking to get married that establishes rules for how both spouses will conduct themselves in case a divorce occurs. While prenuptial agreements were once thought of as something that only celebrities or the super wealthy used, today they are gaining in popularity across age and income brackets.
There are a number of things that couple can agree on in a prenup, such as whether the parties will use mediation to resolve any disputes. Sometimes, prenups even contain requirements about how the spouses should act during the marriage.
These agreements can also contain specific provisions for the dissolution of the marriage, so that everything can be agreed upon before filing a petition for divorce. In some cases, prenuptial agreements can even require a couple to seek alternative dispute resolution before filing for a divorce in a court of law.
The Advantage of Prenuptial Agreements
A prenuptial agreement is one of the best ways for spouses to communicate about their expectations for a marriage. Prenuptial agreements also help couples address the most common obstacles that can arise in advance, which can help to quickly resolve disagreements. Additionally, prenuptial agreements help spouses protect separate property from being lost if the marriage does not last.
Tips on Creating a Strong Prenuptial Agreement
There are several suggestions that people should follow to create the strongest prenuptial agreement, which include:
- An agreement is likely to be challenged if it is unfair. There are slaws in place that require prenuptial agreements to be fair and reasonable at the time that they are created.
- It is a bad idea to attempt to hide assets when creating a prenuptial agreement. Instead, both parties should be provided with enough information to enter into a fair agreement.
- Each spouse should obtain the assistance of an experienced family law attorney. Include language in the prenuptial agreement stating that each spouse chose his or her own legal representation and was satisfied with the attorney’s legal services.
- Make sure to sign the prenuptial agreement at least 30 days before the date of your wedding to make sure that the agreement will hold up in court.
- Determine whether a family member or loved one has appointed you as a beneficiary who will collect an inheritance. In many situations, it is important to disclose this information in the prenuptial agreement.
- Consider whether the prenuptial agreement should apply to divorce, separate support, and inheritance related issues. This should include deciding whether you approve of waiving alimony. In some situations, waiving alimony might not be wise.
Speak with a Family Law Attorney Today
If you need help drafting a prenuptial agreement, reach out to an experienced family law attorney. Contact Vayman & Teitelbaum P.C. today to schedule a free case evaluation.