We have seen an increase in interest related to prenuptial agreements. We are often asked "Is it a good idea to get one?" and "Do I need one?".
BENEFITS
There are certain benefits to having a prenuptial agreement:
- It can prevent lengthy litigation in the future if there is a divorce
- There is a predetermined path set out that both parties agree on before the relationship break down
PROTECTION OF ASSETS
A prenuptial agreement can be used to protect the following assets:
- Real Estate
- Business Assets
- Investment Accounts
- Foreign Assets/Properties
- Trusts
FUTURE DETERMINATION OF OTHER FINANCIAL ISSUES
Prenuptial agreements can help in resolving the following financial issues in a divorce:
- Waiver of Alimony
- Amount of and Length of Alimony
- Division of Business Assets/Interests
-Division of Investments
VALIDITY OF PRENUPTIAL AGREEMENT
For a prenuptial agreement to be valid and enforceable the following factors should be present/satisfied:
- Parties enter the prenuptial agreement voluntarily
- Parties fully disclose all assets
- Parties obtain indépendant legal counsel
- Parties have ample time to review the terms of the prenuptial agreement before they are married
If you have any questions regarding a prenuptial agreement, please give us a call! Our attorneys have years of experience drafting and reviewing prenuptial agreements to protect our clients now and in the future.