Understanding Pre- And Postnuptial Agreements
What Is A Prenuptial Agreement?
A prenuptial agreement is simply a legally binding contract between the bride and groom, signed prior to walking down the aisle. The contract is an agreement to change the application of the law in case of a divorce. Where the law will dictate the outcome of certain issues in a divorce, if there is no prenuptial agreement, a properly drafted and executed prenuptial agreement will trump the law, allowing the parties to pre-determine how their assets will be divided and how much, if any, alimony will be paid should the couple choose to divorce in the future. Prenuptial agreements provide a framework for divorcing couples to leave the marriage with the same assets they came into the union with, on terms they agree are fair before the anger and resentment of a divorce color their perspective. Prenuptial agreements also serve to protect children from a previous marriage in case of the death of their remarried parent.
What Is A Postnuptial Agreement?
For those who marry without getting a prenuptial agreement, but want to preserve the assets they have, a postnuptial agreement can be the right solution. Similar to a prenup, the postnup helps to lay out which assets belong to which spouse, and how assets should be divided in the case of a divorce. The main difference between these two types of agreements is simply when the contract is put together. A postnuptial agreement may occur after the actual wedding, but it is no less valid than a prenuptial agreement. If you have recently walked down the aisle and are now considering the practical matters, and would like to enter into a postnuptial agreement, then the experienced attorneys at Rechel and Associates can help. Contact us today to get started.
Developing and signing a prenup or a postnup is more than crossing t’s and dotting i’s, so it is important you have a lawyer by your side who will help you secure favorable provisions and work to get you the best outcome possible. It is also important to write these agreements correctly to avoid any confusion in the division of marital assets and other issues unique to your situation if a divorce does happen.
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Having an attorney with the right experience can be a tremendous help in securing your financial future. If you want to schedule an initial consultation, you can give us a call at [nap_phone id=”LOCAL-REGULAR-NUMBER-1″] or send us an email. We help people in the Tampa metro area.
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