Information about Prenuptial Agreements

A prenuptial agreement is basically a legal contract where the couple will agree to who will own what when married. Having a prenup will prevent a contested divorce. A contested divorce is when the couple can’t agree upon how to distribute the assets. Contested divorces are a lot more expensive than uncontested divorces because they require a lawyer.

Prenuptial agreements don’t have to last forever. You can add what is called a ’sunset clause’, which is a specified time period where the prenup will be invalid. For example some couples may add a sunset clause that states that the prenup will become invalid after they have a child. Although sunset clauses vary from state to state, if you choose to ignore it, then your state may void your prenup.

In the US there are five requirements that must be met for prenuptial agreements to be binding. Every prenup must be written. There is no such thing as an oral prenup. It also must be signed voluntarily and performed before a notary. Fourthly, you can’t marry under false pretenses. Finally, prenuptial agreements cannot be morally or ethically unfair.

Couples who have significant assets tend to agree that a prenuptial agreement is important and beneficial when it comes to keeping those assets divided. In the event of dissolution of marriage, those assets would be protected under the prenup.

Another couple who tends to agree that prenuptial agreements are beneficial are those that want to protect assets for their children. In a contested divorce, lawyers fight over who gets what and ultimately the probate court decides the final outcome. With a prenup you can prevent all that.

I’m sure most of you reading this are familiar with Hollywood style prenuptial agreements. They truly give prenups a bad wrap. Often times you’ll hear newscaster’s jokingly talking about what they call the ‘bedroom clause’. It’s a provision that celebrities tend to add to their prenup which state’s the minimum amount of times the couple must engage in intercourse. I also noticed they enjoy to add things like how the husband or wife must maintain a certain weight or even appearance. With the kind of provisions these celebrities add it’s no wonder some people deem prenups right away as being offensive.

Disclaimer: This article has been written for information and interest purposes only. The information contained within this article is the opinion of the author only, and should not be construed as legal advice or used to make legal decisions. Consult an attorney in your area if you’re seeking legal advice.

This article has been brought to you by Legal Forms Bank .Biz, a do-it-yourself legal forms provider. Download fillable prenuptial agreements for any state and other forms like bankruptcy forms that don’t require a lawyer.

Why Should I Use a Prenuptial Agreement?

More than one in three of all first marriages end in divorce as well as fifty-percent of second or third marriages. When you make your vows, a lot of people don’t realize they are stepping into a ‘financial union’. Having a prenuptial agreement will ensure that your financial well-being will be protected. A prenup is much like an insurance policy, you hope you’ll never need it, but you feel a lot better having it. Couples without a prenup will have their assets distributed for them by the state if you end up disagreeing on how they should be distributed during the divorce.

To create a prenuptial agreement you could hire a lawyer to make one for you for about seven hundred to eight hundred dollars. The cost is usually based on the complexity of both couples finances and how many visitations you will need before you and your spouse can agree upon the terms of the prenup. Additional costs can occur when you and/or your spouse feel you need an appraiser to value a business, real estate property, and/or collectible property. Also, lawyers like to charge a high hourly rate if you need your prenup by a certain date (for example your wedding date). An alternative to hiring a lawyer is to find a fillable prenup with instructions online and do it yourself at home.

For most people it’s hard to approach a spouse about the topic of a prenuptial agreement. Most people find it’s easier when you do it as early as possible. It’s much harder for most people to ask their spouse to sign a prenup after the wedding is planned. That’s why it is suggested you do it as early as possible. You should always stand firm and clearly let your spouse know these agreements are important to you.

Having a prenuptial agreement does not always mean the parties don’t trust each other. Usually the agreement is very well grounded in realism, rather than a lack of trust. For older couples that have already been through a marriage this is especially true. These type of couples usually just simply want to protect their children. Younger couples usually feel that a prenup will save a lot of money if later on the marriage does not work, which is true. An uncontested divorce is always cheaper than a contested divorce, because a lawyer isn’t required.

This article has been brought to you by Legal Forms Bank .Biz where you can download your state’s prenuptial agreement, which includes instructions. A lawyer isn’t required to create a legal prenup, it’s really a simple form anyone can create themselves at home.