If you plan to marry soon, it is time to start considering a prenuptial agreement. A prenuptial agreement (prenup) is a written contract that fiancés create to describe how they will handle their finances and property while married.
Some people think a prenuptial agreement is a plan for divorce. While a valid prenup could ease divorce by making it less time-consuming, stressful, and expensive—the process of negotiating a prenup helps couples learn to talk about and resolve disagreements about money, which could actually help the marriage endure.
A Lincoln County prenuptial agreements lawyer could help you and your fiancé decide what to include in your agreement and formalize it into a written contract. If you already have a proposed contract, a knowledgeable martial agreements attorney could review it and ensure you understand its terms and implications.
Prenuptial Agreements Keep Control with the Couple
Engaged couples often do not want to think about what might happen if their marriage ends. But just as having health insurance does not mean a person intends to get sick, seeking a prenuptial agreement does not mean a partner is anticipating divorce. A prenuptial agreement is a financial plan that allows the couple to decide how to handle many possibilities.
For example, if one spouse dies, the law determines who gets their property. If the spouses want a different arrangement than the law calls for, they could include it in their prenup. If the parties divorce, the court determines how they divide their property; however, a prenup allows the couple to make their own decisions.
Negotiating a prenup requires each party to disclose their assets and debts to the other. This process forces the couple to have frank conversations about money and their financial expectations after marriage. Having these discussions before marriage can help each partner enter the marriage with clarity about their finances.
Contents of a Prenup
Kansas Revised Statutes § 23-2404 controls the content of prenuptial agreements. It gives couples broad authority to decide many aspects of their financial lives between themselves. An experienced Lincoln County prenup attorney could help a couple determine their goals and formalize them in a written agreement.
Prenups allow the couple to decide whether to keep specific property separate before marriage. It could be especially important for people who have children from a previous relationship, own a business, or have substantial family wealth to segregate particular property.
Additionally, a prenuptial contract could outline whether one spouse will pay ongoing support to the other after a divorce. The couple could decide that a spouse receives payments from the other spouse if specified events occur. For example, if the less wealthy spouse agreed to give up a right to alimony, the agreement could provide them with a cash payment at significant anniversaries so that the spouse has money of their own if the marriage ends.
Ensuring a Prenup Is Enforceable
There is no point in having a prenup if the judge will not enforce it. Judges usually enforce written agreements signed by both parties, but sometimes one spouse asks the judge to invalidate a prenuptial contract.
The spouse challenging the prenup typically alleges fraud or duress. Fraud means that one partner intentionally misrepresented their assets or debts, so the other partner did not have the information they needed to consent to the agreement. Duress means one spouse put unfair pressure on the other to sign the contract.
Couples could ensure their agreement is enforceable by being transparent about their property and debt and leaving plenty of time to negotiate and prepare a prenup. When both parties have ample opportunities to discuss the prenup with their dedicated lawyers and suggest changes, the Lincoln County court is more likely to uphold the agreement.
Consult With a Lincoln County Prenuptial Agreements Attorney
Whether you want to draft a prenup or are still considering whether it is right for you, speak with a Lincoln County prenuptial agreement lawyer. They could answer all your questions and explain how a prenup could benefit a couple in your specific circumstances.
Disclosure and negotiation might take a few months, so do not delay. Reach out now to schedule an appointment with a well-practiced attorney.