Marriage is a wonderful journey. As a couple prepares to exchange vows, they might not fully appreciate the vulnerability of their separate property. In many cases, spouses co-mingle their possessions and significant assets, making divorce a complicated process that can quickly turn to litigation. One of the ways that everyone can keep their separate property detached is through a prenuptial agreement. Though people often shy away from the idea, a prenuptial agreement can set aside assets, protecting them from an uncertain future. Prenuptial agreements are not a sign of a lack of trust and they do not start a budding relationship on the wrong foot. They can be a powerful tool to clear the waters of the union so that a couple can focus on the important parts. Many believe that taking money out of the equation can benefit the new chapter of one’s life. Whatever your lifestyle, if you have assets that need to be protected, a prenuptial agreement lawyer can help. To discuss your legal matter, contact Peter V. Mandi & Associates, Inc. for a consultation.
Separate and marital property
When a couple gets married, they often co-mingle possessions and assets without thinking about what would happen if a split occurred. Without a prenuptial agreement, assets that enter the marriage could be divided if the couple gets divorced. Marital property is any assets brought into the marriage or acquired during the marriage, with a few exceptions. Furthermore, if an asset that originally was kept separate appreciated in value through a combined effort of the couple, the difference in value could be considered marital property. With a prenuptial agreement, a couple can iron out these details before the marriage even begins.
Executing a prenuptial agreement
To execute a binding prenuptial agreement, one must satisfy some important requirements. Some of the requirements for an enforceable prenuptial agreement include:
- The document must be in writing
- The document must be signed voluntarily
- The document must be accompanied by a full financial disclosure
- The terms must be fair and just
- The document must be signed before a notary
There are some limitations to a prenuptial agreement. It may not have any language regarding child custody, child support, or child visitation. This is mostly to protect the child’s best interests. Prenuptial agreements can handle a wide variety of issues, including what happens in the case of death, no-fault divorce, or fault divorce matters, including adultery.
Contact Peter V. Mandi & Associates, Inc.
Prenuptial agreements are a good option for individuals who have assets that need protecting. It is important to have quality legal support from an attorney that can draft a durable prenuptial agreement. It is important that this document is enforceable and retaining the services of an experienced attorney is best. To find out more about this document or to schedule an appointment to draft this document, contact Peter V. Mandi & Associates, Inc.