What Is a Prenuptial Marriage Arrangement?
Are prenuptial marriage arrangements a death knell for romance? Or are prenuptial contracts useful solutions to dealing with the bothersome topic of finances in a marital relationship?
More and more couples are signing prenuptial marriage arrangements before they marry. They are a lot more popular when couples are remarrying for the second time. These are not just couples handling monetary inequality, or couples who have a lot of wealth. These are couples who wish to put all their monetary cards on the table before they stroll down the aisle.
A prenuptial marriage arrangement is a signed and notarized contract that spells out how a couple will deal with the monetary aspects of their marital relationship. Not extremely romantic, having this sincere financial discussion prior to a wedding event event can be a very positive experience.
According to the website FindLaw.com, "Premarital arrangements (likewise called prenuptial contracts or "prenups") are a typical legal action taken before marriage. It's frequently sensible to at least consider a prenuptial arrangement."
Pros of Prenuptial Agreements
- Having a prenuptial marriage contract does not mean that a couple is anticipating a divorce.
- Financial matters that need to be dealt with are dealt with.
- Prenuptial arrangements can preserve family ties and inheritance.
- If your future spouse will not sign a prenuptial marriage agreement, it may be best to find this prior to the wedding.
- The financial well-being of kids from a previous marital relationship can be secured.
- Personal and business assets built up prior to your marital relationship are secured.
- A prenup puts financial expectations out on the table before your wedding.
- A prenuptial marital relationship arrangement define which assets a spouse might wish to give to children or other relative in Protecting Premarital Assets case of death.
- In the event of a divorce, a prenuptial contract eliminates battles over properties and financial resources.
Cons of Prenuptial Agreements
- Prenuptial marriage arrangements can be reserved for failure to disclose all assets, or if there is proof of fraud, duress, unfairness, or absence of representation at the time of signing the contract.
- They are unromantic and can cause severe friction in the relationship.
- Prenups can give the appearance that there is an absence of trust in between the partners.
- A prenuptial arrangement might produce resentment in between partners.
- A prenuptial marriage arrangement makes it look like there is a lack of a life time dedication to one another.
- Some people look at doing a prenup as "preparing the divorce" before "planning the wedding event."
History of Prenuptial Agreements:
Nuptial contracts have been around for countless years. Throughout the 19th century, prior to the Married Women's Property Act of 1848, the contracts were necessary for females in the United States Up until the act became law, whatever a lady owned or inherited was moved to her spouse. If he died or separated her, she could lose everything.
Neighborhood Property States.
Community home states in the United States are Arizona, California, Idaho, Louisiana, Nevada, New Mexico, Texas, Washington, Wisconsin, and the territory of Puerto Rico. Their laws state that home built up during a marital relationship would be divided equally in the event of a divorce. Other states have a policy of dividing properties on a fair distribution basis.
Things to bear in mind About Prenuptial Agreements
- Discuss the contract early in your relationship. Do not wait up until you are ready to walk down the aisle.
- Be truthful. Do not try to conceal your thoughts, feelings or possessions
- Hire separate lawyers so you both have excellent representation.
- Consider asking both legal representatives to supply an affidavit of independent legal counsel. Keep the affidavits with the original prenuptial file.
What If You Both Completely Disagree on Getting a Prenuptial Agreement?
If among you is completely against getting the prenup and the partner is entirely adamant about getting one, you might wind up breaking up. It's regrettable if you can come to some arrangement that is fair to both of you, however in some cases that holds true. Only you can choose if this bone of contention is a deal breaker for you.
For more information, contact:
Douglas Crawford Law
1404 S Jones Blvd
Las Vegas, NV 89146
(702) 383-0090