Get Legal Advice for Creating a Prenuptial Agreement

As unromantic as it may seem, prenuptial agreements can be an important and healthy part of a marriage.

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A prenuptial agreement (also known as “prenup”), antenuptial agreement, or premarital agreement is a contract signed before two people are wed. This contract between partners can be used to outline alimony or spousal support, child support, personal property, and more in the event of divorce.

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Similarly, a postnuptial agreement is a prenup that is signed after marriage.

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Division of property

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These legal documents clearly state the division of property should the marriage end. Different states have their own divorce laws in regard to property rights.

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Typically, assets acquired before marriage are non-marital or separate property and assets purchased during the marriage are marital property. Legal rights to these assets, like real estate, can vary depending on the state law and whether you live in a community property state.

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If these things aren’t outlined prior to marriage or during the marriage, they have to be mediated or negotiated in the court of family law as part of the divorce process.

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According to the National Center for Health Statistics, roughly 42% of marriages end in divorce. Discussing financial information before you get married can make things much easier in the event of a divorce.

Although uncomfortable, talking through sensitive financial issues related to the creation of a prenup agreement and confirming you’re on the same page as your future spouse can strengthen your relationship now.

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Issues commonly addressed by Prenuptial Agreements

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Wealth: One partner earns substantially more money or is considerably wealthier than the other at the time of marriage.

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Children: Children from a previous marriage raise potential custody, child support and visitation issues.

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Assets: One partner owns a lucrative business or other valuable property that they want to protect.

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Debt: One partner brings substantial debt to the marriage that the other would not want to be responsible for if they went through a divorce.

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Even if neither party has kids or significantly different financial obligations or assets, discussing a few key issues now may help avoid headaches later.

The first step is to figure out if you need a prenuptial agreement. If you determine you want a prenuptial agreement, next seek independent legal advice to ensure the document is comprehensive and legally binding.

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LegalShield is your partner in successfully navigating the sensitive and challenging legal issues raised by marriage.

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Get educated

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If you’re not sure you need a prenuptial agreement or you’re not ready to engage with a lawyer to create a legally binding document, prepare yourself with these educational resources.

• 7 Reasons to Get a Prenup
• What is a Prenuptial Agreement and How Does it Work?
• The Legal Guide to Getting Married – A comprehensive guide that covers prenups and other marriage-related legal issues, such as name changes, child custody, and your Will and Living Will.

Ready to create a prenup? LegalShield offers legal plans that allow you to have a lawyer help you create a prenuptial agreement for a fraction of the normal fee. Our legal plans include a host of other valuable legal services.

• Unlimited consultation with a lawyer.
• Legal forms and document review.
• A lawyer-created Will and Living Will.
• Letters and calls on your behalf to resolve disputes.

Any divorce is going to be complicated and only gets more so when kids, houses, and 401ks are added to the mix. Signing up for a LegalShield membership to get legal advice is the smart way to tackle your divorce, especially in considering what you can save in lawyer’s fees.

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LegalShield’s divorce services include consultation on your home and accounts and other assets and how they may be divided; your obligations to your common debt; the custody arrangements for your children; and the review of any prenuptial agreements or any divorce documents that you need to submit, all at a low monthly price.

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You can’t avoid the filing fees that come with a divorce, but you can avoid spending a fortune on the necessary legal services.