Prenuptial or Premarital Agreements refer to agreements between prospective spouses made in contemplation of marriage. They must be executed prior to marriage but, they become effective upon the date of marriage. A properly executed Prenuptial Agreement becomes legally binding enforceable by either party under the law.
Prenuptial Agreements typically deal with such matters as rights in the other’s estate in the event of death of one of the spouses, alimony, property division in the event of a divorce, etc. Entering into a Prenuptial Agreement with your prospective spouse has a number of different advantages in that it may eliminate a significant amount of uncertainty in the event of a legal dispute between the parties and it lays a foundation regarding expectations between the parties so that each spouse knows what is expected of the other. It also serves to provide full disclosure of the assets and debts of each party so that there are no unfair surprises or non-disclosure of excessive debt and the like.
If you are presented with a Prenuptial Agreement by your prospective spouse or his or her attorney, do not sign it until you have consulted with an experienced attorney.
If you are interested in pursuing a Prenuptial Agreement please contact our firm now at (919) 851-0001 so that you may speak with a family law attorney.