Under family law, a marriage is a two-person contract. The laws governing the married couple’s property rights are those of the state in which they reside.
But you can’t sign a prenuptial agreement for anything you desire. As a legal document, a prenuptial agreement is subject to certain legal requirements that establish its validity. A prenuptial agreement you sign that is illegal or invalid might not be enforceable. Thus, the prenuptial agreement is null and void.
To agree with your spouse, it can be very helpful to hire a prenuptial lawyer. By getting legal counsel, you can make sure that your prenup is binding and legitimate. Having legal representation by your side can also keep you from signing poorly drafted prenuptial agreements that might not be in your best interests.
This post will go over the reasons a prenuptial agreement could be required as well as the significance of a prenuptial agreement attorney.
Prenuptial agreement definition
Lawyers working on behalf of two individuals planning a marriage draft a legal document known as a prenuptial agreement, or simply a prenup. Premarital agreements are another name for prenuptial agreements. Usually, before their wedding, the couple signs the contract. Additionally, it usually takes effect on the wedding day.
Determining each party’s rights and obligations in the event of a divorce or death in the marriage is the purpose of a prenuptial agreement.
A prenuptial agreement can help you safeguard your assets and keep you safe from your partner’s debts by defining who keeps what, who pays for what, and who is accountable for what.
Similar to any other contract, a prenuptial agreement may also serve to avert legal conflicts, perhaps saving a couple years of court cases and thousands of dollars in legal costs.
Prenuptial Agreements: What Are They?
A contract that two people sign before marriage is known as a prenuptial agreement. The terms of the contract will determine how the parties will share all of the assets in the case of a divorce, including bank accounts, real estate, enterprises, retirement money, and personal belongings.
But these agreements can also limit or waive future alimony rights. They can also deal with child support and custody, but family courts have the power to change the latter depending on what’s best for the child.
Prenup Lawyer Near ME: What is the purpose of a prenuptial agreement?
Maybe you’re wondering what goes into a prenuptial agreement. You can fill it with as much or as little as necessary. If you’d like, you may even give it an expiration date.
Prenuptial agreements can designate who owns what you own, such as:
- Companies
- Items such as vehicles, residences, artwork, jewels, and furnishings
- Funds, such as retirement accounts, stocks and bonds, savings, gifts, and inheritances
- Prenuptial agreements can allocate accountability for your debts, such as:
- Expenses including credit cards, auto, mortgage, student, and medical loans;
- bills and subscriptions for the home; AND
- Repossessions and bankruptcies
Liability assignment is possible through prenuptial agreements for:
- legal costs;
- benefits for survivors or deaths;
- The other’s earnings, often known as spousal support or alimony
However, a prenuptial agreement cannot legally address everything. For example, there may be regulations that forbid you from putting child support, visitation rights, and custody provisions in a prenuptial agreement.
Infidelity clauses, large settlements, and other provisions that would make divorce more alluring than marriage are some things that attorneys might advise against.
The services a prenuptial attorney can provide
A prenuptial agreement lawyer can assist a couple in protecting their separate assets and money before they tie the knot. To secure your interests and make sure your prenup remains valid in court, you should work with a prenuptial agreement lawyer to draft and negotiate your agreement. The prenuptial agreement must endure for the duration of your marriage. Some states even mandate it by law, and knowing family law will help you decide whether you need legal representation.
Prenup Lawyer Near ME: Prenuptial attorney fees
Prenuptial fees will differ depending on the following case-specific factors:
- How many possessions do you own?
- Who is profitable right now?
- Who is currently in charge of the kids?
- The complexity of your assets
- The degree of complexity of your intended distributions
How well do you two agree regarding the terms of the contract?
It will probably take longer if your holdings are more complex or if you have to engage in more negotiations. Naturally, the higher the price will be. Speak with an attorney who can assist you in sorting out the complex holdings so that, if a divorce is required, the prenuptial agreement will endure.
The location and level of experience of the lawyer also affect attorney fees. A good prenup will often cost you between $800 and $2500. Requesting a free consultation from a family lawyer is nothing to be ashamed of, as many of them do. By making use of this, you can accomplish two goals:
- Determine whether you feel comfortable working with the attorney by having a conversation with them.
- Based on the details you provide the attorney will receive a more accurate estimate of your overall prenuptial expenses.
- Knowing that your premarital prenuptial agreement is likely to stand up in court should you ever get divorced can make the expense, even at the upper end, worthwhile. By employing a prenuptial agreement, many married couples have managed to avoid needless family strife.
Write it yourself and have a lawyer examine it to save money:
You can start with a do-it-yourself form and have your lawyer evaluate it if you’re anxious about the cost of the prenup and would rather draft it yourself. The attorneys should spend far less time on this and incur lower overall costs.
If both attorneys concur, it appears reasonable, so you can sign it with assurance. You can work out terms with your spouse if one or both of you discover issues. When creating a prenuptial agreement, being aware of collaborative law’s implications will help you create a stronger deal from the beginning.
Depending on how much work the lawyer or lawyers need to perform for your agreement, this alternative might save you money. Before engaging a lawyer, make sure you have a clear understanding of what you want in the prenuptial agreement, even if you don’t draft it yourself. You will save money and time by doing that.
Hiring a premarital prenuptial lawyer is entirely up to you unless your state mandates legal help. Recall that hiring legal counsel contributes to the deal’s fairness and enforceability under the law.
FAQs on Prenup Lawyer Near ME:
How enforceable is a prenuptial agreement?
A prenuptial agreement is enforceable by law and becomes difficult to modify after marriage. Take advantage of the seven-day waiting period to go over all the terms with your lawyer and discuss your options. Take your time with this crucial step. Being truthful about all of your assets and debts will help during the negotiating process.
Why wouldn’t you accept a prenuptial agreement?
Issues about child support and custody cannot be covered by a prenup. When it comes to determining child support, the court has the last say. Based on the “best interest of the child” criteria, the court decides how much child support to award. Parental rights, including child visitation, child support, and custody, are not enforceable by the court under prenuptial agreements.
A prenuptial agreement: is it enforceable?
To overturn a prenuptial agreement, one side needs to demonstrate that the parties’ circumstances have changed, rendering the agreement unenforceable at this time; the agreement was made under coercion or fraud; the agreement is unethical.
The Conclusion on Prenup Lawyer Near ME:
Choosing to marry is a crucial choice that you will make in your life. When you tie the knot, it’s important to think about your assets, even if your romantic sentiments may lead the way. This is particularly relevant if you have a sizable estate or items that were sentimental to you in the past.
