There are many important decisions to make before getting married, including whether to draft a pre-nuptial agreement. While pre-nuptial agreements have a reputation for only working for couples with a wealth disparity, most people can benefit from the certainty these agreements bring to a relationship and its future.
A skilled marital agreements attorney could help you create documents that meet all legal requirements and provide you with peace of mind as you enter the next phase of your life. A Syracuse pre-nuptial agreements lawyer at The Colwell Law Group may assist you with drafting this important agreement.
A pre-nuptial agreement defines each spouse’s personal property and outlines the terms of how this property will be divided if the couple divorces. Many couples seek a prenup to protect their personal assets in case of a divorce, particularly when one spouse has substantially more assets than the other. These agreements are also commonly used when one spouse anticipates receiving a substantial inheritance or wishes to protect their partner from personal debt.
Another reason to consider a pre-nuptial agreement is when one or both future spouses own closely held businesses. Many businesses could not survive having their assets sold off and divided, so it is useful to enter into an agreement that establishes one spouse’s ownership of the business in its entirety.
Even if someone does not anticipate challenges arising in their marriage, having an agreement in place establishes clear terms for a union. No two couples are the same, but a Syracuse attorney could assist with drafting a pre-nuptial agreement that allows both spouses to feel confident in their future together.
An enforceable pre-nuptial agreement must be in writing. It is not possible to enter into an oral pre-nuptial agreement that is legally binding, even in cases where both sides agree on the decided terms. Both parties must also sign the agreement in the presence of a notary public.
Prenup agreements are not enforceable if either spouse enters the agreement through fraud or under duress. Both sides must enter into the agreement voluntarily and with full knowledge of its terms. Pre-nuptial agreements are also not valid when one of the spouses is under 18 or when the terms of the agreement are unconscionable by legal standards.
An engaged couple can create a pre-nuptial agreement any time before their wedding. Some people may sign an agreement soon after their engagement, while others only complete these documents shortly before the ceremony. In either case, the agreement takes effect once the marriage is formalized.
While spouses should go at their own pace to review and finalize the terms of their agreement, the amount of time a spouse has to read and agree to a prenup can impact whether Courts consider the document legally binding. When one spouse demands a last-minute pre-nuptial agreement, the case can be made that the other spouse was not willing or did not agree to the terms with full knowledge. A proactive attorney could help couples in Syracuse create a pre-nuptial agreement that meets all necessary requirements.
If you are considering a pre-nuptial agreement, it is important to move forward sooner rather than later. The sooner you start discussing the idea with your future spouse, the easier it will be to create a fair and reasonable contract.
It can be challenging to draft these legal documents on your own. At The Colwell Law Group, we offer legal guidance to help you create and execute an agreement you feel secure in. Reach out to a Syracuse pre-nuptial agreements lawyer today to learn more.
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