Planning your future with another individual is very exciting, especially when marriage is in the cards. As exciting as it is, you should be sure to protect yourself for the unexpected. One way you can do so is through a prenuptial agreement. These documents do oftentimes have stigmas, but it is better to be safe than sorry in the event that you get divorced in the future.
In addition to the negative connotation that people have regarding prenuptial agreements, many also are under the false impression that they are only for the wealthy. You do not have to be wealthy or be planning on divorce if you want a prenuptial agreement. They are simply in place to protect your assets just in case. There are a few requirements that you must meet if you are trying to execute a valid prenuptial agreement. First, the agreement must be filed before you and your future spouse actually get married. Otherwise, you will have to get a postnuptial agreement, which is much more difficult to request.
The agreement needs to be in writing, it needs to be voluntary and fair, and it needs to be notarized. A prenuptial agreement also needs to have a full disclosure of each party’s finances. When you draft a prenuptial agreement, you are pretty much free to put whatever you want in it (as long as it meets the requirements) except decisions made about any current or future children. Matters related to children will only be decided upon during a divorce. You can, however, include decisions about assets, alimony, inheritances, and more.
If you need quality legal assistance drafting a prenuptial agreement, contact Underwood & Micklin today.