What Are Prenuptial Agreements

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What are Prenuptial Agreements but a way to protect assets including property made prior to marriage. Other considerations include spousal support and child support from a previous marriage. In order for prenups to be legal in the United States there must be a written contract where both parties are in agreement. Each person must have their own legal counsel and the contract must be notarized by a notary public. In addition, both adults must willingly disclose all assets at the time the prenup is drawn up. Basically, a prenup contract is initiated at the time of divorce or death. What are prenuptial agreements but a way to ensure that an inheritance does not go to an ex-spouse. Additionally, owning a lucrative business would be a valid reason to have a premarital contract. "He that handles a matter wisely shall find good: and whoso trusts in the LORD, happy is he" (Proverbs 16:20).

A premarital contract can be protection for both parties. What are prenuptial agreements but a way to guarantee that children from a previous marriage will be taken care of after death or divorce. In retrospect, the person who has no children may not want to be responsible for supporting kids from a partner's previous marriage. There may be elderly parents that need to be taken care of. One person may have a tremendous amount of debt and the other person may not want to be responsible for debt accumulated before marriage. There are many reasons to consider a premarital contract. One of the biggest reasons is because one partner is very wealthy and the other one is not.

Couples who are open with each another will do much better at accepting a prenup. Communication is very important along with having an open mind. Some people believe that it is wrong to have one because marriage should not be entered into with trust issues. Everyone's situation is different so it is best not to judge others. Some people just feel more secure to have a prenup than to trust the court during a divorce. What are prenuptial agreements but a way to feel secure about one's assets. It is best to discuss these issues before getting married. Give each other some time to think about all the particulars of having a premarital agreement and consult an attorney before going through with it.

Being honest about getting married involves considering all the things that go along with it. Most people are so in love that they only know they want to spend the rest of their lives with this person. Thinking about which partner will pay the bills, will there be a joint checking account, and will there be children are all valid questions that should be asked prior to marriage. What are prenuptial agreements is another question that should be asked. Sit down with your fiance and try to talk out concerns. If a couple wants protection against unforeseen circumstances then he or she should get some answers. Write down questions ahead of time and then take them to a family law attorney.

In researching prenups partners will be able to find out a few things. There are some things that cannot be put in a premarital contract. Custody of children, future child support, unfair issues, issues that might encourage divorce, and other decisions involving the kids should not be included in a premarital contract. The division of household duties is not something that goes in the agreement. What are prenuptial agreements but a way to put financial questions to rest. Adults who are serious about tying the knot need to find out each others financial situation before doing so. This is a good reason to date for awhile and not rush into anything.

Financial planning is an important part of a marriage. What are prenuptial agreements but a way to feel secure about those financial plans. You may have a lot of plans for the future and need to know how your fiance has planned for the future. Now is the time to find out if there is a disagreement about the handling of finances. One person may have a lot of money tied up in investments or a lucrative retirement plan while the other adult may not believe in saving or investing. Partners need to work together on their finances and be able to agree. If a person is a saver and the other is not there may be some disagreements in the future. There could be an argument every time money is invested or every time money is spent.

Getting a premarital agreement may help to strengthen a relationship. If a person has a lot of money and is marrying someone who does not then the worries disappear when a contract is drawn up to secure the wealth. If the partner who has no money has a problem with doing so then he or she may not be getting married for the right reasons or may feel hurt because of trust issues. This is a very controversial subject. What are prenuptial agreements but a way to get all the details out into the open so both parties can voice their concerns. Doing so may cause some discord now but better now than later when there are children and differences cannot be settled. Take the time to pray about this and get some legal advice. Then when you have some knowledge about prenups sit down and start communicating.

What Are Postnuptial Agreements

Couples may execute what are postnuptial agreements any time after the wedding to ensure an equitable division of assets, spousal support, and child custody in the event of death or divorce. Because marital dissolution is so prevalent in Christian and non-Christian relationships, wary husbands and wives may choose to develop legally binding marriage contracts which determine what kind of alimony will be paid, how jointly owned property will be divided, or how surviving spouses will be cared for should the relationship fail or if a mate dies. Couples should also address who will retain a primary or secondary residence or get custody of minor children if the marriage breaks up. Unlike a prenuptial agreement which is drafted prior to the wedding, postnuptial marriage contracts are recognized by most states and in Europe; and may be written and notarized any time after couples say I do. Such binding documents are especially helpful when a husband or wife has considerable assets, or in case family members may try to contest a deceased spouse's will. While some partners' greatest concerns might be about material possessions, God is concerned about the condition of man's soul: "For what is a man profited, if he shall gain the whole world, and lose his own soul? Or what shall a man give in exchange for his soul?" (Matthew 16:26). A good time to consider where your soul will spend eternity is while discussing a pre or postnuptial agreement.

While many view what are postnuptial agreements as a sign that husbands and wives do not fully trust one another, the opposite may just be true. Suppose a husband or wife wins the lottery, is awarded a huge cash settlement, or inherits a large amount of money from a wealthy relative. If there is no written document specifying how personal possessions will be distributed should a spouse become wealthy overnight, then there can be all kinds of legal repercussions, and a surviving spouse can spend years battling with family members over who will inherit a mate's wealth. In most states, a wife is only entitled to 50 percent of the husband's property; the remaining 50 percent is evenly distributed among the decease's children, then grandchildren. A contract between husbands and wives before or after the wedding is added insurance against those who would attempt to violate the rights of a spouse. In a court of law, properly prepared marriage contracts are just as legally binding as a last will and testament.

Other than death or divorce, a spouse who inherits or wins a hefty sum of cash, precious metals, jewelry, land or stocks and bonds may want to enter into what are postnuptial agreements to ensure that their mate gets his or her fair share in the event of marital dissolution or death. A notarized postnuptial will also protect the surviving spouse from allegations of impropriety should a dispute arise over distribution of property; and if stipulated, such a document will negate previous survivor benefits in a former marriage or domicile a deceased spouse made while living. While many opponents view contracts between spouses as cold and calculated, a post- or pre-nuptial covenant eliminates confusion and guesswork. Both parties know exactly what they have agreed to and the legal ramifications and special stipulations outlined in a notarized document.

In order for the state to recognize what are postnuptial agreements, husbands and wives must voluntarily execute a written document that fully discloses all current and future assets individually or jointly owned at the time it is drafted. What are postnuptial agreements are personally carried out by husbands and wives with the aid of separate attorneys representing each partner; hence the necessity to have the document notarized and recorded in an appropriate state court. The marriage contract must not be written under coercion, or force; but represents a mutual assent between husband and wife. Agreements written under duress will not recognized by the state, nor will they be legally binding. Each partner must also attest to the fact that they were mentally sound and fully aware of the stipulations of the contract.

Full disclosure of assets might be tedious, but it is also a requirement for what are postnuptial agreements to be in force. Each party is required to list all personal assets, including real property, stocks and bonds, certificates of deposit, precious metals, inheritances, trusts, or any other portfolio holdings. Partners should also consider how dividends, appreciations and gains will be distributed. Also important to list are savings accounts, retirement funds, 401ks, royalties, or other personal holdings that may increase in value over time. Provisions outlined in life, medical, or disability insurance policies should also be considered. Attaching duplicate copies of account numbers, certificates of deposits, or other records of assets is a wise choice to further document the authenticity of a couple's contract. Paperwork may be kept in a bank safety deposit box for future reference and altered periodically as a couple's financial status changes.

Because of a high percentage of certainty that many first-time marriages will end in divorce, more couples are opting for prenuptial agreements. Fortunately, for husbands and wives concerned about the repercussions of divorce or death of a spouse, most states recognize what are postnuptial agreements. A marriage contract stipulating an equitable division of property and other assets is a wise move for couples who are prudent and really want what is best for the present and future relationship. On the other hand, partners who have been married for a long time may have accumulated shared wealth or a windfall monetary gain. Spouses who have been faithful deserve the lion's share of a mate's assets without having to contend with family members. In the event that the marriage fails to last or a spouse dies, what are postnuptial agreements provides the surviving partner a measure of security for the future.

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