Creating a prenuptial agreement does not mean you lack faith in the future of your marriage. It simply provides a sense of security, clarity, and structure for both parties in case a divorce were to occur in the future. No matter what happens, each spouse can rest easy knowing what matters most to them as individuals and as a couple will remain protected. Continue reading to learn more about prenuptial agreements and how they can help strengthen your marriage and relationship as a whole.
What a Prenuptial Agreement Covers
A prenuptial agreement is a binding contract between two people that is entered into prior to marriage that governs how you will manage your separate and marital property during your relationship along with how those assets would be divided if a divorce were to occur in the future.
Below is a list of the issues that your prenuptial agreement can cover in:
- The rights of each spouse to separate or marital property
- How debts and assets will be divided if one of the spouses dies or if the couple gets divorced
- The rights of each spouse to inheritances or gifts
- The rights of each spouse to spend, buy, or sell assets during the marriage
- The entitlement of each spouse to alimony or spousal support
- The management of a family business
- The entitlement of each spouse to death benefits from an insurance policy
One of the biggest benefits of a prenuptial agreement is the vast range of issues and flexibility the document provides to couples when developing their marital plan, however there are some matters this important legal document cannot address.
Here are some of the issues a prenuptial agreement cannot resolve:
- Child-related matters, such as custody and support
- Intimate relations between you and your spouse
- Illegal actions or terms that promote divorce
Upholding a Prenuptial Agreement
Unlike the majority of states in the country, which adopted the Uniform Prenuptial Agreement Act (UPAA), some states like Pennsylvania have their own statutory law which regulates prenuptial agreements.
The mass majority of State courts will typically uphold a prenuptial agreement and the terms and conditions therein unless there is evidence that shows:
- The agreement was not signed voluntarily by both spouses
- The agreement was unfair because one spouse did not fully disclose all debts and assets
- One spouse did not expressly waive the right to disclosure of the other’s finances
- The defrauded spouse did not have sufficient knowledge of the other’s finances
Speak to an Experienced Attorney About Creating a Prenuptial Agreement Today!
If you are planning to get married, reach out to the family law team at the Law Office of Nikolas D. Capitano, The Leges Group LLC for the skilled legal guidance you need to create an effective prenuptial agreement. Our team has the insight and experience necessary to advise you on what you should include in this important legal document so that you can spend less time worrying about your assets and more time on your marriage.
Reach out to our law office today at (610) 200-6665 to set up a consultation with one of our attorneys to get started on creating your prenuptial agreement.