Approximately 50% of marriages will end in divorce in the United States. As such, it’s in your best interest to plan for this occurrence. One thing couples should consider before marriage is creating a prenuptial agreement with the assistance of Pennsylvania family law attorneys. If you are unfamiliar with this contract or what to include, the following blog explores these agreements in more detail.
What Are Prenuptial Agreements?
A prenuptial agreement, also commonly referred to as a prenup, is a document a couple creates before marriage. This contract can help the process of divorce go smoothly, as many issues will be determined in the agreement.
Many spouses use prenuptial agreements to divide assets should the couple get divorced. Generally, each spouse will list all of their assets and come to an agreement on their property rights following a divorce.
It’s a common myth that a couple who sign a prenuptial agreement must be bound to fail, as they are already considering divorce. However, this is far from the truth. Couples who create prenuptial agreements demonstrate clear communication and transparency when it comes to financial matters, which can be a leading factor in many divorces. Regardless, these documents help provide peace of mind for the financial future of a couple.
What Is Included in These Documents?
Generally, a prenuptial agreement will cover the distribution of property and alimony payments. For example, if a couple has or plans on having children, they may agree that the parent who receives primary custody will remain in the family home. Similarly, a couple may agree on an alimony amount for a predetermined amount of time following the divorce to ensure one spouse is supported.
It is essential to note that you cannot include decisions about child custody or child support payments in a prenuptial agreement. Instead, a couple can determine these matters on their own or with the help of a court when the divorce takes place.
Why Do I Need an Attorney if My Spouse and I Want a Prenuptial Agreement?
If you and your future spouse have decided that a prenuptial agreement is suitable for your needs, it’s essential to enlist the help of an experienced lawyer. Having legal representation ensures the terms of the prenuptial agreement are fair and the contract is legally binding.
It is also necessary to understand that if a judge determines that the terms of your prenuptial agreement are unfair, the courts can deem it invalid. However, if a couple has legal representation when creating their document, a judge is more likely to consider it legally valid.
If you are interested in creating a prenuptial agreement, the dedicated team at Berman Voss can assist you in ensuring this document is fair and legally binding. Contact the firm today to discuss the details of your circumstances.