What Is a Prenuptial Marriage Agreement?
Are prenuptial marital relationship agreements a death knell for romance? Or are prenuptial contracts useful options to dealing with the problematic topic of finances in a marriage?
Increasingly more couples are signing prenuptial marital relationship arrangements before they marry. They are much more popular when couples are remarrying for the 2nd time. These are not simply couples dealing with monetary inequality, or couples who have a great deal of wealth. These are couples who want to put all their monetary cards on the table before they walk down the aisle.
A prenuptial marriage contract is a signed and notarized agreement that define how a couple will manage the monetary aspects of their marital relationship. Not really romantic, having this truthful monetary conversation prior to a wedding event ceremony can be an extremely positive experience.
According to the site FindLaw.com, "Premarital arrangements (likewise called prenuptial contracts or "prenups") are a typical legal step taken before marriage. It's often prudent to at least think about a prenuptial arrangement."
Pros of Prenuptial Agreements
- Having a prenuptial marital relationship arrangement does not indicate that a couple is expecting a divorce.
- Financial matters that requirement to be faced are faced.
- Prenuptial agreements can preserve family ties and inheritance.
- If your future partner will not sign a prenuptial marital relationship arrangement, it might be best to find this prior to the wedding event.
- The monetary wellness of kids from a previous marital relationship can be safeguarded.
- Personal and service possessions built up prior to your marital relationship are safeguarded.
- A prenup puts financial expectations out on the table before your wedding.
- A prenuptial marital relationship arrangement spells out which assets a spouse may wish to give to kids or other relative in case of death.
- In the event of a divorce, a prenuptial arrangement eliminates battles over properties and finances.
Cons of Prenuptial Agreements
- Prenuptial marriage contracts can be set aside for failure to divulge all properties, or if there is evidence of scams, duress, unfairness, or absence of representation at the time of signing the contract.
- They are unromantic and can cause major friction in the relationship.
- Prenups can give the appearance that there is an absence of trust in between the partners.
- A prenuptial agreement could develop bitterness in between spouses.
- A prenuptial marriage agreement makes it look like there is a lack of a life time dedication to one another.
- Some individuals look at doing a prenup as "planning the divorce" prior to "preparing the wedding event."
History of Prenuptial Agreements:
Nuptial arrangements have been around for thousands of years. Throughout the 19th century, before the Married Women's Property Act of 1848, the contracts were look at this now necessary for women in the United States Up until the act became law, everything a woman owned or inherited was moved to her spouse. If he died or separated her, she might lose everything.
Neighborhood Property States.
Community property states in the United States are Arizona, California, Idaho, Louisiana, Nevada, New Mexico, Texas, Washington, Wisconsin, and the area of Puerto Rico. Their laws state that residential or commercial property accumulated during a marriage would be divided equally in case of a divorce. Other states have a policy of dividing assets on an equitable distribution basis.
Things to keep in mind About Prenuptial Agreements
- Discuss the contract early in your relationship. Do not wait till you are ready to walk down the aisle.
- Be truthful. Do not try to hide your ideas, feelings or properties
- Hire separate lawyers so you both have great representation.
- Consider asking both lawyers to provide an affidavit of independent legal counsel. Keep the affidavits with the original prenuptial file.
What If You Both Completely Disagree on Getting a Prenuptial Agreement?
If among you is totally against getting the prenup and the partner is totally determined about getting one, you might end up breaking up. It's regrettable if you can come to some arrangement that is fair to both of you, but often that is the case. Just you can choose if this bone of contention is a deal breaker for you.
For more information, contact:
Douglas Crawford Law
1404 S Jones Blvd
Las Vegas, NV 89146
(702) 383-0090
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