Who Signs a Prenuptial Agreement?
If you’re not sure what a prenuptial agreement is, it’s a document that describes how assets will be divided in the event of a divorce. It can also be used to help you define your relationship before you tie the knot.
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A prenuptial agreement is not for everyone. It’s a good idea to consult an attorney before you sign on the dotted line. You may be more informed than you think about whether or not one is for you. Many couples put off signing one until right before their wedding.
Before drafting a prenup, you need to be sure that you have all the facts. Typically, you need a thorough understanding of the finances and the financial needs of each of the parties in the relationship. This includes both your own and your partner’s income. As well, you will want to make sure that the agreement isn’t too expensive. In addition, you will need to have it witnessed by a notary public.
One of the best features of a prenuptial agreement is that it can protect your separate assets from being diluted in a divorce. For instance, if you own a home before you get married, you can set out to have it transferred to your spouse or a trust, without fear of having the entire thing wiped out in a divorce. Also, prenuptial agreements can help you protect your children from a previous marriage.
Another great feature of a prenuptial agreement is the possibility to create a living trust. Often, prenuptial agreements will contain confidentiality clauses that keep the details of the agreement out of the hands of your ex-spouse and his or her lawyer. These clauses are important because they can protect you from a future squabble over your kids’ assets.
Of course, a prenuptial agreement is only as useful as its content. For example, you should never include a clause in a prenuptial agreement that waives your rights to alimony when you divorce. However, you can use a prenup to protect your life insurance policy from being used against you.
A prenuptial agreement can also be a valuable tool to protect your personal privacy and your social media presence. A prenuptial agreement can help you prevent a tell-all book from ever reaching the shelves. Furthermore, a prenuptial can allow you to protect your intellectual property, such as a patent, from your ex-spouse.
When deciding whether or not to sign a prenuptial, you should consult an experienced family law attorney. Besides helping you craft an effective agreement, these lawyers can advise you on how to enforce it. Prenuptial agreements can be a costly affair if your marriage ends in divorce, but they can be worth it in the long run. The right attorney will be able to help you determine which of the many options is best for you.
A prenuptial agreement may be the best thing you ever did for your relationship. Although it can be costly, it’s worth it if you want to ensure that your assets will be protected in the event of a divorce.