What Is a Prenuptial Marriage Contract?
Are prenuptial marriage contracts a death knell for love? Or are prenuptial agreements practical options to dealing with the troublesome subject of finances in a marriage?
More and more couples are signing prenuptial marriage arrangements before they marry. These are not simply couples dealing with monetary inequality, or couples who have a lot of wealth.
A prenuptial marriage contract is a signed and notarized agreement that spells out how a couple will deal with the monetary elements of their marriage. Although not extremely romantic, having this sincere financial discussion prior to a wedding can be a really positive experience.
According to the website FindLaw.com, "Premarital contracts (likewise called prenuptial agreements or "prenups") are a common legal step taken prior to marital relationship. It's often prudent to at least consider a prenuptial arrangement."
Pros of Prenuptial Agreements
- Having a prenuptial marital relationship agreement does not imply that a couple is expecting a divorce.
- Financial matters that requirement to be dealt with are faced.
- Prenuptial contracts can protect family ties and inheritance.
- If your future partner will not sign a prenuptial marriage agreement, it may be best to find this prior to the wedding event.
- The financial well-being of children from a previous marital relationship can be secured.
- Personal and business assets built up prior to your marital relationship are secured.
- A prenup puts financial expectations out on the table before your wedding.
- A prenuptial marriage contract define which properties a spouse may want to offer to kids or other member of the family in the event of death.
- In the event of a divorce, a prenuptial agreement gets rid of fights over properties and financial resources.
Cons of Prenuptial Agreements
- Prenuptial marital relationship contracts can be set aside for failure to divulge all possessions, or if there is evidence of scams, pressure, unfairness, or lack of representation at the time of signing the agreement.
- They are unromantic and can trigger major friction in the relationship.
- Prenups can give the appearance that there is a lack of trust in between the partners.
- A prenuptial contract could develop animosity between spouses.
- A prenuptial marital relationship contract makes it seem like there is an absence of a life time commitment to one another.
- Some individuals take a look at doing a prenup as "planning the divorce" additional resources prior to "preparing the wedding."
History of Prenuptial Agreements:
Nuptial arrangements have been around for thousands of years. If he died or separated her, she could lose whatever.
Neighborhood Property States.
Community home states in the United States are Arizona, California, Idaho, Louisiana, Nevada, New Mexico, Texas, Washington, Wisconsin, and the area of Puerto Rico. Their laws state that home built up during a marital relationship would be divided equally in the event of a divorce. Other states have a policy of dividing properties on a fair distribution basis.
Things to bear in mind About Prenuptial Agreements
- Discuss the contract early in your relationship. Do not wait until you are ready to stroll down the aisle.
- Be honest. Do not attempt to conceal your thoughts, sensations or possessions
- Hire different lawyers so you both have good representation.
- Consider asking both legal representatives to supply an affidavit of independent legal counsel. Keep the affidavits with the initial prenuptial file.
What If You Both Completely Disagree on Getting a Prenuptial Agreement?
If one of you is entirely against getting the prenup and the partner is entirely determined about getting one, you may wind up breaking up. It's regrettable if you can concern some agreement that is reasonable to both of you, but often that is the case. Just 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