A nuptial agreement can be very complex, and must be carefully drafted in order to protect each partner that is about to enter or is in an ongoing relationship.
A prenuptial agreement is a contract between two people about to get married that spells out how assets will be distributed in the event of divorce or dissolution of the marriage. A prenuptial agreement often includes:
- Provisions for division of property
- Spousal support
- Child support
- Terms for the forfeiture of assets on the grounds of adultery
Prenuptial agreements are often done by individuals who have a business, own a family asset or property, or who are getting married for a second time and want to ensure that their estate goes to their children and not just their spouse. In order to be valid, a prenuptial agreement must be substantially fair and executed in a procedurally impartial manner.
A signed prenuptial agreement automatically become effective once the parties are married and can cover not only the couple’s present, but also their future, property rights, as well as other matters related to the marriage. It is important to note though that the agreement cannot adversely affect a child’s right to child support or take away the court’s power to set child custody and visitation rights in the event of divorce.
A postnuptial agreement is much like a prenuptial agreement however it is written after a couple gets married and must be agreed upon, and signed by both parties, before it can become effective.
It is important that every nuptial agreement must contain the following elements in order to be considered valid:
- Must be in writing and legible
- Needs to be fair to both partners
- Must contain a list of all the assets and debts that each partner holds
- Must have a signature for each partner
- Must be notarized by a witness
- Must not contain any clause that would be considered illegal or against public policy
A nuptial agreement that does not have all these elements can be considered null and void by the courts which will have significant impact in your future. Let us help you draft a document that protects the future wellbeing for you and your family.