Although previously considered with much controversy, prenuptial agreements (often referred to as “prenup” agreements) are becoming more commonplace. They offer couples who are getting married the security of an agreement regarding such topics as child custody, spousal support and property distribution in the case of divorce or the death of one spouse.
A family law attorney can help you create a prenuptial agreement if this is something you are considering. You will find that an attorney’s advice and input on this matter will allow you to fully cover all bases and create a prenuptial agreement that will be best for you and your future spouse.
Statistics have shown that about one in three of all first marriages and an astounding 50 percent of second or third marriages end in divorce. With the divorce rate being so high, it is wise to invest time into the planning of your long term financial future. When you get a divorce, your spouse may be entitled to a percentage of your personal property such as your house, stocks, and retirement income. In order to avoid devastating loss, you should consider getting a prenuptial agreement.
A lawyer can help you create an agreement that fully addresses all of your concerns and that will work for you in the future, should the need arise. While they wouldn’t draft a prenup with the intention that your marriage will end, it is often a good insurance policy, so to speak, in case anything does come up.
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Couples who have signed a prenuptial agreement (sometimes called an antenuptial agreement or premarital agreement) often look to that agreement to define the terms of their divorce, including property division and spousal support.
A prenuptial agreement is a written agreement formed between spouses before they exchange marital vows. Prenuptial agreements often address property settlements in the event of divorce, and may include other legal issues, such as additional obligations that will arise during marriage. Alabama law, as well as many other states, requires certain procedures during the formation of a prenuptial agreement, such as full financial disclosure between the parties. Alabama law also prohibits prenuptial agreements if they are not truthfully represented.
Prenuptial agreements are formed with an intent to marry, and as such do not become valid unless and until the marriage takes place. If the marriage does not occur, the prenuptial agreement is not validated, which means, in short, that it never becomes a contract. There are situations however where a promise to marry must be reviewed by a lawyer.
