We write about divorce a lot on this blog. Not because we like it when couples break up (we don’t), but rather because the legal issues related to divorce can be complex, messy, and downright overwhelming.
All the same, we’re not made of stone… Here’s proof: a post on marriage. And specifically, on an aspect of tying the knot that can leave many a couple perplexed: the prenuptial agreement (see how romantic we are?).
Here’s what you need to know:
1. Prenups have been around for centuries:
“Premarital agreements, also known as prenuptial or antenuptial agreements, are an ancient concept. In the Jewish religion, marital contracts called ketubahs have been around for more than two thousand years. Many other ancient cultures also have the equivalent of prenuptial agreements. The modern secular prenuptial agreements that exist in the United States can be traced back to sixteenth-century England.” (Law Offices of Marlo Van Oorschot)
2. A prenup doesn’t have to spoil the mood:
“Buying auto insurance does not mean you plan to be in an accident. Installing a smoke alarm in your house does not mean you expect it to burn down. Getting an annual check-up does not mean you are convinced that cancer is just around the corner. So why are so many spouses-to-be afraid that asking for a prenuptial agreement suggests they have doubts about the marriage?” (The Byrd Law Firm)
3. Yours, mine, and ours - a prenup makes it clear:
“Sometimes, the separate financial assets of one spouse are pumped into the marriage, forever commingled with the marital estate. Or a substantial asset like real property brought to a marriage, and improved or enhanced through the marriage, undergoes transmutation, allowing a non-owner spouse to benefit from value added since marriage. To avoid such situations, prenuptial agreements should be used to protect separate property.” (Bryan L. Salamone & Associates)
4. A prenup can protect joint property:
“A prenup can limit your liability for your other spouse’s debts. This will prevent creditors from going after marital property to satisfy outstanding liabilities. For couples getting married with student loans, this is an option you should heavily consider.” (Vanessa Cotto)
5. An unfair prenup won’t hold up:
“A prenup cannot be unconscionable. In other words, the prenup could be invalidated if the agreement is too lopsided, with one party awarded almost everything and the other receiving only a pittance.” (Lawyers.com)
- The Mediated Prenuptial Agreement: A Happy Beginning - Law Offices of Marlo Van Oorschot, APLC
- How To Broach The Subject Of A Pre-Nup - The Byrd Law Firm, P.A.
- Getting To Yes: Equitable Property Division - Bryan L. Salamone and Associates P.C.
- Sign a Prenup? That Is So Romantic! - Vanessa Cotto
- June Brides, Are You Ready for Divorce? - Lawyers.com
Find additional updates on Prenuptial Agreements at JD Supra Law News»