Preparing for a wedding should be happy and joyous time in your life. However, amidst the excitement, you have to remember to think practically. Though not romantic, you and your soon-to-be spouse both need to protect yourselves in the event of a divorce.
A prenuptial agreement is a good way to protect both of your assets in the event you divorce. The agreement will help ease the legal process should the marriage end. An attorney is the best person to draw up the agreement. Here are some things you should know about prenuptial agreements and how an attorney can help.
Why Do You Need a Prenuptial Agreement?
A prenuptial agreement is a legal contract two people execute before a marriage. The agreement spells out how property will be divided in the case of a divorce. The prenuptial agreement offers a strict protection strategy designed to dispel disputes over finances in a divorce.
The agreement also protects assets both people owned before the marriage and any business assets gained throughout the marriage. If one or both of you enter into a marriage with a high net worth and significant assets, or if one of you start a business and the business takes off, the agreement can include how much, if any, claims each partner may make on those assets.
The agreement will also state whether or not alimony payments will come into play in the event of a divorce. In addition, if you gain real estate, investments, or other assets together during the marriage, you can include a stipulation for those assets in the prenuptial agreement as well.
What Are the Requirements for a Prenuptial Agreement?
The primary requirement for a prenuptial agreement is both people enter into the contract voluntarily. The prenuptial agreement has to be in written form and both you and your soon-to-be spouse have to sign the contract. You both also have to disclose your income and your assets.
What Should You Look for in an Attorney?
An attorney will draw up the prenuptial agreement and ensure all areas of focus are correctly interpreted by law. For the agreement to be legal, you should find an attorney who has skills and experience in both contract and family law.
The prenuptial agreement is a contract which defines the obligations and rights of the married couple. You should search for an attorney who works with prenuptial agreement formation on a routine basis and has a track record of satisfied clients.
How Should You Find an Attorney for a Prenuptial Agreement?
You should do some online and in-person research into the attorneys in your immediate area. The state and local Bar Association is also a great place to begin your search, as you will find a list of attorneys near you who practice in family law.
You may want to reach out to friends and family members for referrals. Ask what the qualifying characteristics are for their recommendations and whether or not they believe the attorney would fit with your personality.
Once you have your choice narrowed down to a short list, call and make a consultation appointment with each attorney. You will gain a good idea as to whether or not he or she is a good option for your needs. You and your soon-to-be spouse may even want to hire your own separate attorneys for the process to ensure the agreement is fair and is not subject to speculation.
If you have any questions about a prenuptial agreement or if you would like us to represent you in other legal matters, please contact David Wilson, Attorney at Law.