Prenuptial agreements are legal contracts couples can enter into before marriage to prepare for potential divorces. Here are three facts about prenuptial agreements.
1. The Purpose of a Prenuptial Agreement
Prenuptial agreements allow couples to plan out how finances and financial responsibilities are to be divided in the event that their marriage is dissolved. These agreements are typically made in order to reconcile various aspects of divorce and property laws with the couple’s needs and wishes.
2. Prenuptial Attorneys
There are marriage and family attorneys who specialize in prenuptial agreements. It can be helpful for you to hire one to help you draft a contract for multiple reasons. This topic can be a difficult one for couples to broach, and some aspects of it can be complicated or confusing. You will need to discuss assets, income and liabilities, among other factors, which can vary by income bracket, lifestyle and geographic region. For example, if you’re working on making a prenuptial agreement Fairfax VA, you’ll want to be sure to hire an attorney who is experienced in marriage law and this type of agreement, who is also familiar with such aspects of the Fairfax area as property values.
3. Types of Prenuptial Agreements
Prenuptial agreements generally apply to either property acquired by one partner before marriage or property acquired by both partners during the marriage. They can also apply to both types of property. These focuses allow the individuals’ various properties to be retained by the original owners and help ensure that shared property is divided appropriately between the divorcees. Additionally, these agreements can clarify who a spouse wishes to leave his or her property upon his or her death.
Couples can freely commit to prenuptial agreements prior to getting married, but because these agreements can so greatly impact potential divorce proceedings, it’s vital couples learn as much about them as possible.