It can be helpful for some engaged couples to reach an agreement regarding the important financial issues in life prior to the day they are married. Some couples face very different financial circumstances, which can result in conflict in the future.
A prenuptial agreement could provide these spouses with financial certainty after marrying. These agreements—which can be drafted by a capable family attorney—could set expectations regarding things like alimony or property division should a divorce happen in the future. Let a Hays prenuptial agreements lawyer assist you with your marital contract.
Engaged couples could consider a prenuptial agreement for a wide variety of reasons. Regardless of those reasons, an experienced Hays prenuptial agreements attorney could help develop an appropriate prenup. Some common reasons to enter into a prenuptial agreement include the following:
There can be issues when a couple that has a significant income disparity marries. When one spouse makes far more than the other, it can leave the party with more assets feeling vulnerable. A prenuptial agreement could protect those assets.
Some prenuptial agreements involve debts instead of assets. A person that enters a marriage with substantial debt might agree to execute a prenuptial agreement to shield their future spouse from any legal obligation related to that existing debt.
When individuals with children from a previous relationship marry, it can impact the potential inheritance of those existing children. A prenuptial agreement could ensure that a parent provides for those children in cases where standard inheritance law might not protect them.
It is helpful to remember that while these agreements can address many issues for divorcing couples, there are some limitations. While issues of property can be addressed, these contracts are not binding when it comes to decisions for child custody or support.
There is a reason such issues are not governed by prenuptial agreements. Even if both spouses agree, the court has no obligation to follow the wishes of the parents in child custody or support matters. Instead, the judge must make a decision that is in the child’s best interest. These agreements are not enforceable since issues of custody are not up to the parents to begin with.
In addition to ignoring prenuptial agreements that attempt to determine issues of child custody or support, there are other issues a prenup might run into as well. The good news is that a skilled lawyer in Hays could help future spouses avoid these prenup issues by carefully drafting an agreement that complies with the law.
Reaching a written agreement is not the only requirement. Both parties must sign the agreement voluntarily, with full disclosure regarding the other party’s assets. If the court finds a person signed a prenuptial agreement due to fraud or duress, the judge is likely to find the contract void.
Prenuptial agreements are powerful tools, but they are only useful if they hold up in court. Drafting a contract on your own could result in a mistake that invalidates the prenup altogether.
A Hays prenuptial agreements lawyer could ensure your agreement complies with the law. Reach out as soon as possible for a confidential consultation.