While getting married is about love, it’s also a legal and official union that is confirmed and documented in the courts. That means that even if you do not join all of your finances together, the court still views assets collected throughout the marriage as joint property. That means income, property, vehicles, retirement accounts, and other assets accumulated during the marriage are shared equally between both individuals.
While no one plans for a divorce when they get married, it’s important to prepare yourself for the worst. There is often a negative connotation associated with prenuptial agreements, but by having one in place, you can protect yourself and your assets should you ever get divorced.
What is a prenuptial agreement?
A prenuptial agreement is a plan that you and your spouse put in place before getting married that details how the assets and responsibilities will be divided in the event that you get divorced in the future.
Why do people consider prenuptial agreements before getting married?
A prenuptial agreement is used to clearly outline the expectations of both parties in the event that they get divorced. They can help identify separate property prior to marriage—including property, income and other assets—to keep that property from being considered communal during a divorce proceeding. In addition, a prenuptial agreement can specify pre-determined amounts of spousal support, or protect inheritances of children from prior marriages. These agreements are most often put in place when there is a large discrepancy in earning power or assets between a couple.
How do you draft a prenuptial agreement?
A prenuptial agreement needs to be drafted properly to be considered valid by the court. Some of the requirements for a valid prenuptial agreement include proof that the agreement is entered with free will by each party, that each party had adequate time to review the agreement, and that all property has been disclosed.
Do you need an attorney to draft a prenuptial agreement?
Yes! You certainly need an attorney on your side when drafting a prenuptial agreement. If a prenuptial agreement is not drafted correctly, the court may throw it out during a divorce proceeding and make their own determination for the division of property, child custody, and spousal support.
Contact Kendal Gkikas & Mitchell, LLP today for help with your prenuptial agreement!
If you are considering a prenuptial agreement, it is important to speak with an experienced prenuptial agreement family law attorney like Kendall Gkikas & Mitchell, LLP. At Kendall Gkikas & Mitchell, LLP, we have over 26 years of experience in family law and are well versed in drafting and filing prenuptial agreements. Even if you don’t move forward with a prenuptial agreement, Kendall Gkikas & Mitchell, LLP can talk you through the process and help you determine if it’s in your best interests to do so. Contact us today at 909-482-1422 to request a consultation!