Prenuptial Agreements

Although prenuptial agreements are not generally considered a romantic gesture, divorce is common and divorce litigation is often expensive.  A prenuptial agreement is one way to minimize your financial risk.

 

A prenuptial agreement is a contractual agreement that details how property division will occur in the event of a divorce.  A prenuptial agreement may pertain to any matter that is not in violation of public policy or a statute imposing a criminal penalty.  Additionally, a prenuptial agreement may not affect the legal rights of a child, such as a child’s right to child support.

 

Who should consider executing a prenuptial agreement?

 

• You, or your partner, have been previously married;

• You have a significant amount of assets that you will bring into the marriage;

• You own your own business;

• Your income is substantially higher than your partner’s income;

• Your partner has a significant amount of debt; or

• You, or your partner, have children from a previous relationship.

 

In order for a prenuptial agreement to be legally enforceable, specific legal procedures must be followed.

 

A prenuptial agreement may not be legally enforceable at the time of divorce for any of the following reasons:

 

• The prenuptial agreement was not freely entered into by you or your spouse;

• The prenuptial agreement was unjust or inequitable; or

• The prenuptial agreement was attained by fraud.

 

If you would like additional information about a prenuptial agreement, contact M.W. Law, PLLC to schedule a consultation. 

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