Planning your future with the person you love is an exhilarating and wonderful time in your lives. You want to do everything you can to avoid future misunderstandings and conflict. Preparing a prenuptial agreement before your wedding can give you both piece of mind.
What are prenuptial and postnuptial agreements?
Marital agreements explain how spouses’ marital assets will be handled if they divorce or separate.
- A prenuptial agreement is signed before the marriage.
- A postnuptial agreement is signed any time after the marriage.
When properly drafted these agreements can resolve lingering questions and concerns about your financial future.
What can be included in these types of agreements?
A prenuptial or postnuptial agreement can include:
- What is separate and what is community property
- How community property will be divided in the event of a divorce or separation
- What the spouses put in their wills regarding each other and property
- The right to sell, manage and dispose of property
- Who owns life insurance death benefits
A marital agreement cannot address child custody or child support. Agreements containing provisions waiving spousal support may be unconscionable and unenforceable.
What is needed to make a marital agreement enforceable?
- The agreement must be entered into voluntarily and freely by both parties.
- Both persons must fairly and thoroughly disclose their finances before the agreement is signed.
- Both parties should have their own independent legal counsel or specifically waive the right to consult with an attorney in writing.
- Both parties should have sufficient time to consider the terms and conditions of the agreement before signing it. Neither party should be under any duress or undue influence when entering into the agreement.
The Law Offices of Norbert U. Frost regularly drafts prenuptial and postnuptial agreements so you can focus on your lifetime together.