Marriage Information Center
Premarital Agreements
Although not very romantic, premarital agreements are becoming more and more common. Many people who are considering getting married wonder if they should have one of these contracts, also known as prenuptial or antenuptial agreements. People who intend or do live together may enter a similar agreement called a cohabitation agreement. Individuals who are already married or living together may chose to sign a reconciliatory agreement, which serve the same purpose. An attorney experienced in family law can explain the differences in the various types of agreements and can help draft the right one for you.
A premarital or pre-nuptial agreement is an effective tool for defining the legal relationships between two people. The process of creating the agreement clarifies each person's expectations and reveals any mistaken assumptions or potential misunderstandings early in the process.
Often, if one of the spouses enters the marriage with significant property or assets, a premarital agreement can protect that property from being considered marital property by the courts in the event of a divorce. The intent of the agreement is to create a framework for handling money and property issues during the marriage and a roadmap for property division should the relationship end.
Each state has its own laws about what can be included in a premarital agreement. Most states will not uphold agreements about child support and will not uphold an agreement that was created fraudulently or unfairly. For example, requesting a spouse to sign an agreement five minutes before the wedding may be considered unfair by some courts.
Some states have adopted the Uniform Pre-Marital Agreement Act. This law defines the legal guidelines for people who wish to create a premarital agreement about ownership, control and management of property during the marriage, as well as how to divide property if they separate, divorce or in the event of death. The states that have adopted the law are:
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Who Uses Premarital Agreements?
Premarital agreements are not only for the wealthy. Some typical examples of the types of situations in which a premarital agreement is appropriate include:
- Individuals with assets such as a home, stock or retirement funds.
- Individuals who own all or part of a business.
- Individuals who are entering their second marriage and wish to protect their assets for their children from the first marriage.
- Students pursuing a professional degree or license in a lucrative profession.
- Individuals who have supported friends through bitter divorces or believe the final distribution of property was not fair.
- People who want to limit the amount and duration of support which one party can receive from the other.
- People who are not getting married but intend to live together indefinitely, including same-sex couples.
Will the Court Enforce It?
The validity of a prenuptial agreement depends on the state where you live. In general, the closer to the wedding date the prenuptial was signed, the greater the danger that it will not be upheld. If one side was represented by a lawyer, and the other was not, or both sides were represented by the same lawyer, either party can argue he or she did not understand what was signed and the prenuptial agreement may not be valid. If the parties failed to disclose their assets, the prenuptial can be attacked on that basis. The greater the number of these factors in one case, the greater the chances a court may not uphold the agreement. Courts will not uphold provisions concerning custody and child support.
Here are a few tips to keep in mind to make sure your prenuptial or cohabitative agreement holds up in court:
- Consult with an experienced matrimonial or family law attorney who is familiar with the laws of the state in which you will be living.
- Remember, a prenuptial agreement is not an opportunity to request that a spouse waive rights such as child support payments.
- Keep prenuptial agreements and wills in sync. A will created after a prenuptial agreement that leaves a spouse more than agreed to in the prenuptial will govern, but if the prenuptial agreement leaves more, then the prenuptial will govern.
- Writing and witnesses to the signing do matter. Typically, the contract is signed in triplicate with the groom- and bride-to-be each getting an original copy, and a copy being kept by an attorney.
Conclusion
If you are about to get married, or plan to live with your partner, or are already married, a formal agreement that defines how you will divide your assets if you separate may be beneficial to the long-term health of your relationship. An experienced family law attorney at Bishop Law Office, P.C. in Arizona can help you decide if you should create such an agreement.
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