Prenuptial agreements are a contract that individuals can sign that detail how the parties will divide their assets and property in the event of a divorce, or if one party passes away. These agreements can ease many concerns that you might face when your wedding approaches. If you and your spouse have questions, contact a Prescott prenuptial agreements lawyer. Our seasoned local attorneys could help you determine if a prenuptial agreement is the right choice for your family.
There are several reasons couples might decide to enter a prenuptial agreement. One of the most common reasons is to protect finances if one of the parties has significant assets. For instance, if a person has a great deal of family money, the prenuptial agreement can ease concerns about the other party obtaining more than a fair share of assets if the marriage ends.
There are many other reasons to think about signing these contracts, though, including:
A well-drafted prenuptial agreement can prevent a person from being placed at a disadvantage because of the decisions they make as a couple. Anyone with questions about entering a prenuptial agreement in Prescott should contact an experienced attorney.
There are many different issues that a couple may cover in a prenuptial agreement. For instance, the individuals may want to address property division, spousal support, and protect their interests in a business. These documents can also include terms related to the parties’ estate plan, including any wills or trusts.
However, there are some issues that a prenuptial agreement cannot include. For instance, parties cannot set child custody terms and child support amounts. Parents legally must provide for their children, and custody arrangements will follow the state support guidelines except in rare exceptions.
Individuals also cannot use their prenuptial agreement to punish the other person for wrongful actions such as adultery. These agreements should be fair and reasonable and put both parties at ease rather than just one of the individuals.
Courts can refuse to uphold the terms of a prenuptial agreement if one of the parties did not enter the agreement willingly or if the document is unconscionable or grossly unfair. Other reasons that a judge may not agree to enforce a prenuptial agreement include:
Parties entering a prenuptial agreement should do so openly and honestly and be transparent with one another about their intentions. A local prenuptial agreements attorney could help the individuals draft a document that protects everyone’s rights.
Entering a prenuptial agreement can solve many problems, save money, and encourage couples to come together to have a conversation about their financial concerns and expectations ahead of their marriage. No one should shy away from these conversations with their future spouse.
If you have questions about entering a marital agreement, you might benefit from the counsel of a Prescott prenuptial agreements lawyer. Our qualified attorneys could speak to you about how these agreements apply in your unique case. Call today to learn more.
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