An exceptional lawyer — actually, 2 lawyers– will guarantee that a prenup suits everyone’s needs and will hold up to any legal concerns. The law deems marriage a contract between two individuals. So, devoid of a married couple creating a legally binding contract that stipulates otherwise, the laws in the state that they live in will manage their property rights.
A prenuptial agreement, also known as a premarital agreement, or prenup, enables a couple to set the conditions of the property rights for the marriage, as an example. Nevertheless, there are typically several requirements that are required to be met for a prenuptial agreement to be legally binding.
Hiring a prenup lawyer could make a huge difference, not just coming to an agreement, but also in getting it recorded in the documentation that will hold up in court. In the following, you will find a helpful discussion why you would want a prenup and the part that a prenup lawyer may play in the process.
Reasons for Having a Prenup
Under state law, the spouses will receive automatic property rights unless a legally binding agreement states differently. For instance, spouses may share ownership of property obtained throughout the marriage and both of them have the right to administer and manage the property. If one spouse passes away or the marriage ends divorce, state law determines the distribution of the property. If the parties want to divide the property in a different way, it is necessary to devise a prenup.
Here are some typical reasons why you might want to create a prenup:
- Providing for children from previous relationships. A prenup can guarantee that children from prior relationships inherit specific property from a deceased parent.
- Keeping finances independent. Some types of property obtained throughout a marriage automatically becomes a portion of the community or marital estate. A prenup may explain whether an asset is a separated type of property of just one spouse or if the asset is a portion of the marital estate.
- Interpreting financial responsibilities throughout a marriage. A couple may use a prenup to make financial decisions such as whether or not to open a joint account or if the estate plan includes the surviving spouse as the beneficiary.
- Determining property rights in case of a divorce. In divorces, state law will establish how to allocate specific property obtained throughout the marriage if there is no prenup.
Why You Need to Hire a Lawyer When Creating a Prenup
One of the greatest reasons in hiring a prenup lawyer is to stay away from a court stating that the prenup unenforceable. Fact is, it is suggested to hire 2 lawyers, one for each party. Because each party isn’t required to be legally represented, courts are inclined to be more wary about enforcing a prenup signed by a party that wasn’t independently legally represented. Under these circumstances, particularly if the prenup appears to be unfair to the party lacking legal representation or if there are issues about intimidation or pressure, the court may nullify the prenup justly.
Additionally, each state usually has strict timelines for implementing a prenup that are needed to be followed for it to be considered valid. For instance, you might be required to have it implemented a specific number of days prior to the wedding or you might be required to provide a certain amount of time for each party to review it prior to signing it. Hiring a prenup lawyer can make this process simpler for you because lawyers can guarantee that all the court procedure requirements are fulfilled.
Preparing a Prenup
Prior to speaking with a prenup lawyer, a couple needs to have a clear comprehension of what to include in their agreement. Creating a summary of the conditions is an effective way to create an impartial agreement. Both parties need to also fully detail their income and assets, that satisfy the requirements that each party made by reporting their finances.
A knowledgeable lawyer has experience in the type of conditions forbidden from being included in a prenup. Even though each state has different laws, a prenup usually can’t include:
- Conditions that are a violation of public policy: Courts won’t enforce conditions that relinquish future child support, place limitations on future custody or visitation rights, or use financial motivation to encourage divorce.
- Conditions that involve non-monetary issues: A court won’t enforce a non-monetary condition and can even retain the whole prenup if it includes conditions like the division of housework or the number of children to have.
Contact a Prenup Lawyer Prior to You Signing One
If you both are thinking about a prenup, you’ll likely have a lot of questions surrounding the laws and different conditions you may come across. Guaranteeing it is a valid agreement is also vitally important. Safeguard your best interests by having a family law attorney examine your prenup and provide solid advice.
“Hiring a Prenup Lawyer.” Findlaw, 26 Oct. 2018, family.findlaw.com/marriage/hiring-a-prenup-lawyer.html.
Ogborne Law, PLC: Arizona Legal Professionals
Is there anything more beautiful than two people uniting to create a unique family? Marriage is an exciting adventure! Together, you can build a good life based on trust and hopes. A prenuptial agreement can be part of your wedding plans, and we want to help you structure one that reflects your love and respect for each other.
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