In a time when few things seem to be permanent, precaution is better than cure. Unfortunately, this includes romantic relationships. When you’re coupled and considering the next step, you definitely hope that your love for one another will lead to a lifelong marriage. Yet, it is a fact that many marriages end in emotionally wrenching — and costly — divorces. So, preparing for the worst while committing to work your hardest for the best may be the ideal option. This post will help you think things through.
First, a proper understanding of what a prenup is can help you appreciate its importance. Find out more in the following post:
7 Reasons Why You Need a Prenup
When people marry, they often believe that their union will last forever. But many marriages end in divorce.
That’s why it’s important to consider protecting yourself with a prenuptial agreement. This legal document spells out how your assets will be divided if your marriage ends. It can also prevent lengthy and expensive court battles, in which the only winners are attorneys who bill by the hour.
Of course, this is not to say that everyone must get a prenup. Not every needs one, as Money Talks News founder Stacy Johnson details in “Should Everyone Have a Prenup?”
At the same time, many people stand to benefit from a prenup — whether the agreement is for their own marriage or that of an adult child. Read more at Money Talk News…
Premarital agreements will protect you if you feel there are any assets you wouldn’t want to lose in the event of a divorce. It’s not just for millionaires. In addition, people have a limited understanding of the assets that can be part of the prenup. However, the following post expands the list significantly:
What to Include in a Prenuptial Agreement
Prenuptial agreements are created to protect certain rights or address certain concerns of each member of a couple before marriage. These generally include each spouse’s financial responsibilities in the marriage, how assets will be allocated between the couple, the financial rights of each spouse, and how the property and assets acquired during marriage will be divided if there is ever a divorce. Read more at Kessler and Solomiany…
Intellectual property could also feature in your prenup, since it’s an intangible asset. Think outside the box as you consider what you value. Most importantly, find out from your attorney how you can address your concerns.
It’s important to realize that failing to follow the proper procedures can render a prenuptial agreement invalid. Find out what can go wrong to avoid unpleasant surprises later on:
Why a Prenuptial Agreement May Not Be Valid
There are a few reasons as to why a prenuptial agreement may be determined to be invalid by a Court. This article will discuss five reasons why a prenup may be unenforceable.
No Written Agreement
The first reason would be if your ‘agreement’ is verbal. A prenuptial agreement must be in writing. If you earn $250,000.00 per year and your soon-to-be-wife who is a part-time waitress tells you that she would never go after alimony from you if you get divorced, unless that agreement is in writing, there is no way a Court would hold her to that statement. If you want it to be enforceable, it must be in writing. Read more at O’Connor Family Law…
Avoid complications by getting the right advice for your prenup preparation. In the unfortunate event of a divorce, it will help by minimizing asset-related arguments.
If you’re looking for an experienced family law attorney to help you draw up a legally binding prenuptial agreement, call Meek Law Firm at (704) 848-6335. Attorney Jonathan Meek has the education and experience to provide you with the best legal assistance.