What Are Pre-Marital Agreements?
A pre-marital agreement is simply a contract that can be binding and enforceable by a court. It concerns two people, prior to marriage, and it typically lists all the property and debts of the people who are going to get married, and it sets out the rights to that property.
What Are The Top Misconceptions About Pre-Marital Agreements?
Some of the biggest misconceptions about prenuptial agreements are that only wealthy people have them and that it leads to more divorces. Other people say it means that the spouses don’t trust each other, that it only helps the wealthier spouse, or that it’s not enforceable.
At What Point Do You Recommend Couples Discuss Pre-Marital Agreements?
For pre-marital agreements, my initial advice is to do it as soon as possible. It gives both sides the opportunity to know the facts, take their time, and not cause undue stress to the other party. If it’s rushed, a court could easily find it unenforceable
What Components Constitute A Solid And Valid Pre-Marital Agreement?
You could put a lot of different terms into a pre-marital agreement but the most important factors are clarity and full disclosure of assets and debts. It means that anyone who reads it would know what the intent of the parties is and which assets they are discussing, with backup in the form of documentation.
Are Pre-Marital Agreements Easy To Break?
Pre-marital agreements, if they are done properly, are not easy to break. There is no airtight prenuptial agreement because in a court of law if it is contested, the judge would be the one who would have to look at it and look at all the circumstances surrounding the entry of it and the terms within it. If there is clarity and the terms are not unequitable, a court is going to enforce that prenuptial agreement. If it’s not done correctly, it certainly can be set aside.
What Can and Should Be Clearly Addressed In A Pre-Marital Agreement?
In your prenuptial agreement, state clearly what will and will not be considered as marital property. That’s the most important item. It’s important to lay out what you have now but it is also important to address future property and funds.
When Does A Pre-Marital Agreement Become Enforceable?
A prenuptial agreement becomes enforceable upon the dissolution of a marriage.
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