Prenuptials
There was a time when prenuptials, also called premarital or antenuptial agreements, were reserved solely for the wealthy; however, there was also a time when divorces were far less frequent than they are today. While no soon-to-be married couple wants to imagine the breakdown of their relationship, it is important to view prenuptials in the same way that we view car insurance: a safeguard for the unknown. Unlike car insurance, however, creating a prenuptial does not incur a recurring fee and is typically a one-time payment.
Typically, a prenuptial will cover the following areas:
- The rights and obligations of each of the parties in any of the property of either or both of them;
- The right to buy, sell, use, transfer, exchange, abandon, lease, consume, expend, assign, create a security interest in, mortgage, encumber, dispose of, or otherwise manage and control property;
- The disposition of property upon separation, divorce, death, or the occurrence or nonoccurrence of any other event;
- Spousal support;
- The making of a will, trust, or other arrangement to carry out the provisions of the agreement;
- The ownership rights in and disposition of the death benefit from a life insurance policy;
- The choice of law governing the construction of the agreement; and
- Any other matter, including their personal rights and obligations, not in violation of public policy or a statute imposing a criminal penalty
In modern times, a prenuptial agreement is a tool that both spouses can use to outline the terms of their marriage with clear heads and secure peace of mind. Our office takes the time to clearly explain what a prenuptial agreement can include and what implications it could have in the event of a divorce, developing an agreement tailored to your needs. Schedule a consultation with us today to learn what options may be best for you.