Marriage represents a tremendous change in your life — not only does it drastically alter your living situation, but it also reworks your legal rights. Once you and your spouse tie the knot, various spousal rights and obligations come into play, and your assets, property, and even debt become shared with your spouse in many respects.
Unfortunately, this means the property you bring into marriage could become a part of your marital estate and could be split in the future, should you and your spouse ever decide to divorce. However, a prenuptial agreement could help solve future problems before they occur if you and your future spouse do choose to separate.
Discussing your situation and your options with a Buckhead prenuptial agreements lawyer could be a great way to plan for your future. A skilled family law attorney can help ensure such a document is fair and enforceable, and that it fits your needs and best interests.
A prenuptial agreement is drafted and signed before marriage to determine financial obligations and more in the event of a separation, divorce, or death. More specifically, a “prenup” could address matters such as:
To ensure that a prenuptial agreement is valid and enforceable, there are a few requirements both spouses must fulfill. Each party must fully disclose their assets, property, and income, and the document must be signed by both parties. Furthermore, the contract must be fair and reasonable, and both parties must have adequate time to review and consider the agreement. A knowledgeable Buckhead attorney could offer personalized advice about the legal obligations and ramifications of a prenuptial agreement.
The property acquired during a marriage is usually split evenly between both spouses. Property that one spouse owned before the marriage is usually declared to be non-marital property. Since it was only ever owned by one person, it would remain that person’s property even if they subsequently got married and then divorced.
However, non-marital belongings that a spouse owned before the marriage began could become marital property if they are commingled with the other spouse’s property. For instance, if one spouse owns a home before getting married but then uses that home as the primary residence for their marital family, the house could become marital property over time.
Splitting assets is not the only way to utilize a prenuptial agreement. Prenups could also be used to solidify the rights and spousal obligations for each party in other contexts as well — for example, with spousal support. In this way, a prenuptial agreement could help reduce potential problems and minimize conflict in the event of a divorce.
This type of agreement could also help a couple make decisions for the future in case of infidelity or death. In many cases, there is an infidelity clause embedded in the contract establishing one spouse would receive a financial award if the other is involved in a provable extramarital affair. For more information about different clauses that could be added to a pre-marital contract, it is best to speak to an experienced lawyer in Buckhead.
Prenuptial agreements can serve to protect both spouses in the event of a divorce or separation. Not only could the agreement ensure that each spouse would leave their marriage possessing the same property they entered it with, but it may also safeguard them for the future.
A Buckhead prenuptial agreements lawyer could educate you about your legal options for anticipating and preventing future marital issues. Speak to a member of our firm today to learn how.