A prenuptial agreement is a useful tool that soon-to-be spouses can use before their marriage if official. They can use this to plan for their personal assets. Instead of having their possessions lumped in with their spouses, it can separate who owns what. This can be useful for individuals if they have a sentimental item, a business or a high net worth. They may wish to use the prenuptial agreement to claim for their defense if a divorce were to become possible.
Assets are listed in a prenuptial agreement with the determination of which spouse owns that property. The agreement can claim an inheritance, appreciation of property, spousal support, real estate and fidelity. However, this agreement can not pre-plan for child support or child custody. Decisions on these factors should not be made in the prenuptial agreement. If divorce was to occur, these marital issues will be decided upon at a later time. The agreement must prove to be fair and just for both spouses involved. It must be voluntary for each spouse. They should not be convinced in any way to claim assets wrongfully. When it is decided upon, it must be notarized to prove that it is legally binding.
Can spouses get this agreement made after marriage?
Prenuptial agreements are intended to be made before marriage between a couple is done. However, there is a way to split assets after marriage. Postnuptial agreements are an option for married couples when they would like to claim assets as their own. Since these agreements are made after the official marriage between two individuals, it is called a postnuptial agreement, but it is essentially the same as a prenuptial agreement. A full financial disclosure should be presented. Spouses will name what possessions belong to each of them as an individual and not in the marriage. These agreements might happen later due to a newly acquired business or asset that was not present before the marriage. It may also include an inheritance that was recently acquired or a family heirloom that came into your possession. With these items claimed in the document, there will be no confusion or mix up over who it legally belongs to.
Matters of divorce and family law should be navigated with the guidance of an experienced attorney. If you need strong legal representation regarding matters of divorce, family law, and estate law, contact the Law Offices of Susan A. Kassel, P.C. to schedule a consultation today.