Pre-nuptial agreements are becoming popular very recently as people see celebrities having such. There are a lot of people who are not very knowledgeable on pre-nuptial agreements though. Pre-nuptial agreements, or pre-nup for short, mean that certain properties are denied from the other party in case of a divorce.
All details provided as a reference only, provided on behalf of Attorney Elan Wurtzel P.C.
Definition of Pre-Nuptial Agreement
Pre-nuptial agreement is also called a premarital agreement. It is a legal contract between two people before they get legally marriage. Usually, the agreement contains the distribution of property, spousal support, and guardianship in case a divorce happens. It also details information about the distribution of assets in case of bankruptcy.
Issues on Pre-Nuptial Agreements
Most people have impressions that pre-nuptial agreements are usually for self-centered individuals who do not respect the sacredness of marriage. There are people who find that pre-nup agreements are offensive and are one of the causes why some divorces happen. However, pre-nups are highly advisable for people before getting married. In the event of divorce, spouses usually get pressured and emotional. By having a pre-nuptial agreement, parties are able to acknowledge the needs of another party in case the marriage is dissolved. Because of a pre-nup, divorce proceedings become less-stressful and provide both parties with sufficient financial support.
What Information are Written in the Pre-Nuptial Agreement
There are several circumstances that may be covered in the pre-nup. The way of distributing assets can be different depending on the cause of divorce. For example, the manner of distributing assets in case of a divorce due to infidelity may be different for the case of a divorce due to a mutual agreement. Pre-nup agreements in the US do not usually define guardianship of children. Guardianship in the US is determined by the court on the basis of the children’s best interests and not what the parents want. Pre-nuptial agreements should benefit both parties; otherwise, it may not be acknowledged. In order to ensure that this agreement is acknowledged, it is important for the parties to seek help from lawyers so that the agreement is beneficial to both parties.