This article is not intended to be construed as legal advice. It is for informational purposes only, offering insights into general concerns of the effect and effectiveness of a prenup. Speaking with an experienced attorney is an advisable way to make sure your rights are safeguarded.
It’s Valentines Day and you made today extremely romantic when you popped the question. You and your fiancé are going to beat the odds and be the ones who really do stay together. First, congratulations! Second, I don’t want to be the wet blanket here, but 41 to 50 percent of first marriages end in divorce. It really might be a promising idea to compare your expectations with that of your fiancé, and put in writing how you want things to go in case of divorce. A prenuptial agreement is not the way to establish custody of the children, but it can settle financial concerns.
What is a Prenup?
According to Black’s Law dictionary, a Prenuptial agreement is a contract couples enter into prior to marriage usually to resolve issues of support and property division if the marriage ends. Prenuptial agreements are often referred to as prenups. A well-crafted prenup will hold up years later if the couple faces divorce court. Experienced HFLG attorneys have discovered specific wording and technics that will stand the test of time, and of law.
Should I Consider a Prenup?
It is rarely the fun part of your wedding planning, but it can strengthen your relationship. Money is one of the biggest causes of discord in a marriage. Discussing ahead of the marriage, where each of you stand, often opens up communication between couples planning marriage. This is not about trust and romance, but about establishing rights, minimizing conflict and legal costs. If you are choosing to file prenup agreements, know that you are not alone. The American Academy of Matrimonial Lawyers (AAML), reported 62% of divorce attorneys witnessed an increase in the total number of clients seeking prenuptial agreements before marriage according to a 2016 survey.
Though you hope to never need it, part of being a responsible adult means preparing for all sorts of disasters. Why wouldn’t you prepare for the event of marriage failing? It may not happen, but being prepared doesn’t endanger your marriage any more than having a supplied cellar in Oklahoma or Tennessee causes a tornado to strike.
Can Same Sex Couples Have a Prenuptial Agreement?
Yes, and it is a good idea to do so. Regardless of the gender, couples entering into a partnership or agreement should consider a prenuptial agreement, especially when one spouse has larger premarital assets to protect.
Does a Prenuptial Agreement Mean I Won’t Get Alimony?
It might. Depending on how the prenup is worded, it could guarantee a certain amount of alimony, or no alimony. This is a great conversation to have with your fiancé and attorney. Your prenup can lay out fixed or varying alimony. It can specify a period of time for alimony or an event, such as remarriage or new income. No alimony can also be spelled out in your prenuptial agreement. By having the discussion prior to your marriage, you can set aside concerns and know where each of you stands before your marriage vows are exchanged.
Protect Yourself and Your Romance
It is Valentine’s Day, and romance is in the air. If you are engaged, or considering marriage, we’d like to extend our congratulations. Next, talk to an attorney, before you decide to proceed blindly with no protection in place. Love is wonderful, but a long drawn out bitter divorce has no romance in it. Contact HFLG for more information on enforceable prenups or call (949) 210-3260.