Getting engaged is an exciting and emotional time. However, as couples prepare to build their future together, they may want to take time to plan for the unexpected. A prenuptial agreement can help engaged couples start their marriage on a strong foundation.
A Suwanee prenuptial agreements lawyer could help you determine if a formal contract may be beneficial. Throughout the process, a knowledgeable family lawyer from our team can help you advocate for your interests and protect what matters most.
A prenuptial agreement, also known as a prenup, is a marital contract that two people create before a marriage. The marriage is a requirement of the agreement, and the prenup will only take effect after the start of the marriage.
During the creation of a pre-marital agreement, both parties will create a list of their assets and debts. They will use this financial information to decide what property each person wants to keep in a divorce as well as whether one spouse will be entitled to maintenance or alimony payments. This can also help parties avoid surprise debts and can accurately assess their rights and responsibilities.
Additionally, valid prenuptial agreements can create a plan for what will happen if the marriage ends. A Suwanee lawyer can further explain the role a prenup contract can play in a marriage.
There are several reasons why a couple may choose to create a pre-marital agreement. The most common reason is that there is a disparity in the couple’s net worth. For example, a party who is very wealthy may want to ensure that their spouse is not entitled to a large portion of their assets or income in a divorce. Alternatively, a person entering a marriage with a large amount of debt may want to protect their partner from being held responsible for it.
People with prenups also frequently want to protect property for their children or heirs. When a married person dies, their spouse generally inherits their property and estate. A prenuptial agreement can set aside property for a person’s children or could require both parties to keep and update a valid will.
Business owners also benefit from creating a pre-marital contract. Like any other asset, a spouse in a divorce is generally entitled to a share of a family business’s profits or losses, even when the spouse had nothing to do with the business during the marriage. A prenup can keep these interests separate and decide how much of a portion of the company—if any—that a person can claim.
However, a prenuptial agreement cannot decide issues regarding the couple’s children. Georgia law requires a judge to approve child custody and child support agreements. Parents cannot circumvent the law by making these decisions outside of a court’s approval.
Many couples find that managing their financial expectations with a marital contract gives them comfort and peace of mind. If you are getting married, schedule an appointment with a Suwanee prenuptial agreements lawyer to learn more about how these contracts may help you.