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A prenuptial agreement outlines important components of your marriage in various different scenarios, so if they are to occur, you are prepared in such an instance. The 3 prominent areas covered are:
No. The idea of prenuptial agreements being solely a hallmark of high-profile celebrity relationships or a legality reserved for the rich and famous is a myth. Prenups are not a “legal luxury” (if such a thing exists)- they are important for any married couple, not just those who fall within a certain tax bracket. Prenuptial agreements can be beneficial to anyone looking to protect their assets and also outline solid plans for the division of these assets, among other things, in multiple different scenarios.
Once married, spouses can create an agreement similar to a prenuptial agreement known as a post-nuptial agreement (post-nup). However, it is important to note the significant differences that exist between these two options. Although both postnuptial agreements and prenuptial agreements outline stipulations to protect assets or income in the event of divorce or death, prenups are signed before a couple gets married and are considered more enforceable than postups. This is due to the fact that prenups are created before a marriage when the partners are independent and assets are not legally merged. Prenups are also more reliable than postnups when being enforced in courts. Courts sometimes see postnups as an agreement to relieve pressure on a relationship but not as an actual solution for long-term plans. In the end, prenups are simply more dependable than postnups because a different fiduciary duty and responsibility exists between a married couple than a couple prior to marriage.
When entering a marriage or civil union, you want to ensure there is a plan in place that outlines how assets are to be divided and financial matters are to be approached in various potential scenarios. Prenuptial Agreements (also referred to as Premarital Agreements) exist to fulfill exactly that purpose. Bretowich Law is here to help safeguard your financial interests and provide you peace of mind so are free to focus on pursuing a lifetime of marital bliss!