What is a Prenuptial Agreement?
A Prenuptial Agreement is a binding contract between to people negotiated before the marriage. Because it is a contract, each party must have separate legal representation. A Prenuptial Agreement is a contract in the same manner that two business partners would negotiate terms before starting a corporation. While they may be negotiating, the best contracts are those that are win-win. In this spirit, the best Prenuptial Agreements are those that provide both parties fair and balanced protection.
What Is in a Prenuptial Agreement?
A Prenup can be very narrow or very broad. A Prenuptial Agreement will vary depending on your particular assets and goals. Typically, a Prenup addresses what will happen in the case of divorce. For example, what happens to property that each person brought to the marriage, what happens to assets created during the marriage and what happens to inherited assets. A Prenup usually addresses alimony.
What Are the Benefits of a Prenuptial Agreement?
Every marriage benefits from open talk about finances. Disputes over money are a primary cause of divorce. A Prenuptial Agreement allows both people to speak their minds and address the unpleasant idea of what should happen if the marriage fails. Further, what should happen if one of them dies unexpectedly.
Entering a Marriage Informed and Avoiding Disputes
Investing in a reasoned, agreement as to how to divide assets after a marriage and what rights exist should one person die helps avoid devastating conflict and expensive litigation. A little money spent now can save huge expenses later on. Further, financial disputes are a reason why marriages fail. Investing in a Prenuptial Agreement allows a couple to talk about finances and make sure both people enter the marriage with a complete understanding of the other person’s financial expectations. A small amount of negotiation between a couple before marriage can avoid heated disputes after the marriage.
Common Prenup Questions
What is a Prenup?
A Prenup is short for Prenuptial Agreement. A Prenuptial Agreement is a binding contract negotiated between the couple before the marriage. A Prenuptial Agreement can be narrow or broad, addressing many marriage aspects. Typically, the Prenup addresses financial aspects of divorce, property division and rights should one spouse die.
Can a Prenup Allow Me to Keep Assets Separate?
What Does Prenuptial Mean?
Prenuptial means before the marriage. A Prenup is signed before the wedding ceremony. Afterward, it takes a different form that of a Postnuptial Agreement.
If We Might Not Marry but Want to Live Together, Can We Have a Prenuptial Agreement?
Yes, but it takes the form of a Cohabitation Agreement.
What is a Premarital Agreement? Is a Premarital Agreement Different From a Prenup?
A Premarital Agreement is just another way of saying Prenuptial Agreement.
Can an LGBT Couple Have a Prenup?
Yes, same-sex married couples have the same legal obligations as other married people and addressing mutual obligations is vital.
What Your Prenuptial Agreement Lawyer Will Do for You:
our experienced Prenuptial Agreement Lawyer is ready to help you with any task, but people most often have us help with the following:
- Representing your interests. Though your fiancee does not have to hire their lawyer, a Prenuptial Agreement is a contract between two parties, and you are our client.
- Listening to your concerns.
- Drafting the Prenuptial Agreement for your fiancee’s review or, reviewing your fiancee’s Prenuptial Agreement with you.
Experienced, With Reasonable Prices, We Make Estate Planning and Asset Protection Easier
If you have any questions about Prenuptial Agreements or any other estate planning topics, feel free to contact us to schedule a free consultation. Vancouver Wills and Trusts solely focuses on Estate Law. Our focused experience allows us to explain complex estate planning techniques clearly and concisely. We make it easy for you to understand Prenuptial Agreements and Asset Protection so you can make the best decisions for yourself and your family.