What Is a Prenuptial Marriage Contract?
Are prenuptial marital relationship agreements a death knell for love? Or are prenuptial arrangements practical services to handling the problematic subject of financial resources in a marriage?
More and more couples are signing prenuptial marital relationship arrangements prior to they wed. These are not just couples dealing with monetary inequality, or couples who have a lot of wealth.
A prenuptial marital relationship agreement is a signed and notarized agreement that define how a couple will deal with the financial elements of their marriage. Although not really romantic, having this honest financial conversation prior to a wedding ceremony can be a very favorable experience.
According to the website FindLaw.com, "Premarital contracts (likewise called prenuptial arrangements or "prenups") are a common legal step taken before marital relationship. It's typically sensible to at least consider a prenuptial contract."
Pros of Prenuptial Agreements
- Having a prenuptial marital relationship arrangement does not suggest that a couple is anticipating a divorce.
- Financial matters that need to be faced are dealt with.
- Prenuptial arrangements can maintain family ties and inheritance.
- If your future spouse won't sign a prenuptial marriage contract, it might be best to find this before the wedding.
- The financial well-being of kids from a previous marital relationship can be secured.
- Personal and business assets built up prior to your marital relationship are secured.
- A prenup puts monetary expectations out on the table before your wedding.
- A prenuptial marriage contract define which properties a partner might want to give to children or other relative in case of death.
- In the occasion of a divorce, a prenuptial arrangement removes battles over assets and finances.
Cons of Prenuptial Agreements
- Prenuptial marriage arrangements can be reserved for failure to disclose all assets, or if there is proof of fraud, duress, unfairness, or absence of representation at the time of signing the contract.
- They are unromantic and can cause severe friction in the relationship.
- Prenups can give the appearance that there is an absence of trust between the partners.
- A prenuptial arrangement might create animosity in between spouses.
- A prenuptial marriage arrangement makes it look like there is a lack of a life time commitment to one another.
- Some people take a look at doing a prenup as "planning the divorce" before "preparing the wedding."
History of Prenuptial Agreements:
Nuptial contracts have been around for thousands of years. If he passed away or divorced her, she might lose whatever.
Community Property States.
Neighborhood residential or commercial property states in the United States are Arizona, California, Idaho, Louisiana, Nevada, New Mexico, Texas, Washington, Wisconsin, and the territory of Puerto Rico. Their laws mention that residential or commercial property collected throughout a marriage would be divided equally in case of a divorce. Other states have a policy of dividing possessions on an equitable circulation basis.
Things to Remember About Prenuptial Agreements
- Discuss the arrangement early in your relationship. Do not wait up until you are ready to walk down the aisle.
- Be sincere. Do not try to conceal your thoughts, feelings or properties
- Hire separate lawyers so you both have great representation.
- Consider asking both lawyers to provide an affidavit of independent legal counsel. Keep the affidavits with additional reading the original prenuptial file.
What If You Both Completely Disagree on Getting a Prenuptial Agreement?
If one of you is completely versus getting the prenup and the partner is completely determined about getting one, you may wind up breaking up. It's unfortunate if you can concern some agreement that is reasonable to both of you, but often that is the case. Only you can choose if this bone of contention is a deal breaker for you.
For more information, contact:
Douglas Crawford Law
1404 S Jones Blvd
Las Vegas, NV 89146
(702) 383-0090