  Prenuptial Agreement
What is a prenuptial agreement?
Prenuptial agreement / premarital agreement is a contract entered into prior to marriage. The content of a prenuptial agreement can vary widely, but commonly includes provisions for division of property, spouse's and children's maintenance, guardianship of children in the event of divorce or breakup of marriage.
Postnuptial agreements are similar to prenuptial agreements, except that they are entered into after a couple is married.
Pros of Prenuptial Agreements:
---> Personal wealth and business assets accumulated and inherited from family before and after your marriage are well planned and protected.
---> In the event of a divorce, a prenuptial agreement eliminates battles over assets and finances, and minimizes risks of unexpected financial claims.
---> Prenuptial agreements can preserve family ties and inheritance.
---> Having a prenuptial marriage agreement does not mean that a couple is anticipating divorce.
---> A prenuptial marriage agreement spells out which assets a spouse may want to give to children or other family members in the event of death.
Cons of Prenuptial Agreements:
---> They are unromantic.
---> Prenuptial marriage agreements can be set aside by the court if there is evidence of fraud, duress, unfairness, or lack of representation at the time of signing the agreement.
---> A prenuptial marriage agreement makes it seem like there is a lack of a lifetime commitment or trust to one another.
Summary
Are prenuptial marriage agreements a death knell for romance? Or are prenuptial agreements practical solutions to dealing with the problematic topic of finances in a marriage?
More and more couples are signing prenuptial marriage agreements before they marry. These are not just couples dealing with financial inequality, or couples who have a lot of wealth. These are couples who want to put all their financial cards on the table before they walk down the aisle.
A prenuptial marriage agreement is a signed and notarized contract that spells out how a couple will handle the financial aspects of their marriage. Although not very romantic, having this honest financial discussion prior to a wedding ceremony can be a very positive experience.
Further inquiries about Prenuptial or Postnuptial Agrement
Please contact Our Panel Lawyers.
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