A prenuptial agreement specifies how a couple will handle the division of assets, income, spousal support, and property etc in the event of divorce. Because these decisions are made in advance and while getting along, prenuptial agreements can simplify any future divorce proceeding and keep conflict at a minimum. But, if the prenuptial agreement has fundamental flaws, it could be contested and voided which simply increases conflict and costs. Follow these steps to create an ironclad prenuptial agreement:
Sign your Prenuptial Agreement Before You Book the Band
There's a lot to do before your Big Day and your prenuptial agreement should be at the top of your wedding planning list. If you try to sign a prenuptial agreement at the last minute, the court might invalidate that agreement finding that both parties did not have enough time to review it before signing.
Share Your Box of Bills
Before my wedding, I took out my "box of bills" to clearly disclose my financial situation to my fiancee. We still laugh about that box of bills today. In order to create an enforceable prenuptial agreement, both parties must disclose all of their assets and liabilities. A prenuptial agreement can be voided if all assets are not disclosed. Also, if you omit an asset, it could later be subject to division in the event of a divorce. So to protect all of your assets they must be disclosed and named in the prenuptial agreement.
Get Two Attorneys
Each party needs their own legal representation. If one party is not represented by an attorney, it could be later invalidated finding that the unrepresented party did not fully understand the terms of the prenuptial agreement prior to signing it.
If you are interested in drafting a prenuptial agreement, contact Elise Buie Family Law Group, PLLC. Let our skilled attorneys draft an enforceable, ironclad prenuptial agreement that will protect your best interests and be enforceable if and when you need it. Email us at [email protected] or call 206-389-1623.