Prenuptial agreements are a common practice among newlyweds. These contractual agreements provide for certain financial terms if the future spouses ultimately divorce. Drafting an agreement that makes sense for you and your fiancé could be possible with the help of a dedicated marital agreements attorney.
There is a common misconception that couples entering into a premarital agreement are planning for their marriage to fail. In reality, clearing the air regarding financial issues could provide a sound footing for two newlyweds. A Junction City prenuptial agreements lawyer could advise you how these agreements might work in your favor.
Understanding Prenuptial Agreements
Prenuptial agreements, or “prenups,” are a type of binding contract. There is significant leeway when it comes to the details of these agreements. Some prenuptial contracts are broad and cover every possible financial question, while others are limited to a single asset or transaction. A skilled attorney could evaluate the circumstances of an engaged couple and determine what might work best for them.
There are legal requirements that a prenuptial agreement must meet in order for it to be valid. Prenuptial agreements must be in writing. Both parties must not only sign the agreements but do so in front of a notary. The individuals must also sign freely and without any fraud or coercion.
Finally, both parties must fully disclose their financial situation to the other. It is only possible to consent to a premarital contract when each person involved understands where the other stands financially. Any effort to hide assets or debts could result in the agreement being invalid. A Junction City attorney could ensure that a prenup meets the state’s technical requirements for validity.
Reasons to Get a Prenup
A couple may choose to execute a premarital agreement for a variety of reasons. Some of the common motivations for getting a prenup include:
One Person Earns More than the Other
The most common situation that can call for a prenuptial contract is when one person earns more than their future spouse. When the difference in earnings is significant, the person with the higher earnings might want to protect those assets in case of a divorce.
Children from a Past Relationship
A premarital agreement is a valuable tool for parents with children from prior relationships. By determining the number of assets that are considered “marital,” a prenup could ensure these children are able to inherit from their parents.
Prenuptial agreements are not entirely about splitting assets or determining spousal support. They are also useful when one future spouse is heavily in debt. There are ways that a spouse could become liable for their partner’s debts during the course of a marriage. Drafting a premarital contract with the help of a knowledgeable Junction City attorney could prevent that from happening.
Discuss Your Situation with a Junction City Prenuptial Agreements Attorney
A prenuptial agreement is more than a legally binding contract. It is also an opportunity for two people to strengthen the foundation of their relationship prior to marriage. When both people go into a marriage with a clear understanding of important financial dynamics, it can remove much of the stress and strain that comes with a relationship.
Our dedicated legal team could help you draft a written agreement that reflects your wishes and protects your assets. Contact a Junction City prenuptial agreements lawyer today to learn more about what we could do for you.