A Prenuptial or Premarital agreement is an agreement made between two people who intend to be married and wish to determine various property and support rights in the event the marriage ends in divorce or death.
It provides a way to resolve these issues in advance to avoid disputes if the marriage ends in divorce and to simplify matters if a spouse dies.
Having a Prenuptial or Postnuptial Agreement does not mean there is a lack of trust between the parties.
Sometimes a couple just feels that having an Agreement will save money and emotional distress later if the marriage does not work out or if one of the spouses dies. You may have experienced your parents going through an acrimonious divorce and hope to avoid some of the issues your parents went through as they navigated the divorce process. If you have children it will help to ease their experience. A Prenuptial or Postnuptial Agreement helps to make a separation simpler since you will have determined how your assets and debts will be divided in advance rather than dealing with having to work through the division of marital property and debts at the time of a separation.
DC Prenuptial Agreements
A Prenuptial Agreement can set forth what will happen to a couple’s income and assets in the event the marriage ends in death, divorce, or separation.
A Prenuptial Agreement can be utilized by young couples who have never been married and by older people who may have been widowed or divorced and are marrying again. It is an agreement in which you can determine how you want to handle your financial assets and debts during your marriage.
Older couples that have children from a previous marriage may want to preserve their assets for their children at death. They may utilize a prenuptial agreement to do so. Such an agreement is a method of financial planning so disputes do not arise in the event of divorce or death.
Postnuptial or Post Marital Agreement
A Postnuptial or Post Marital Agreement is an agreement made between spouses anytime after marriage that determines property and support rights in the event the marriage ends in divorce or death.
Both Prenuptial and Post Nuptial Agreements may resolve issues of support, property distribution, debts, retirement assets, homes, stocks, bank accounts and any other property issues that may arise during a marriage.
With either a Prenuptial or a Postnuptial Agreement, it is best if both people are represented by Washington, DC family law attorneys who can explain their respective rights and obligations to them. It is an Agreement that is written so that both people are fairly treated especially in a situation where one person has a much higher income or a greater amount of assets than the other.
Speak with DC divorce lawyer Carolyn Goodman to help you understand the Prenuptial and Postnuptial Agreements options available to you.
Frequently Asked Questions About Prenuptial Agreements
Can a Prenuptial Agreement include provisions about child custody or child support?
The specific circumstances at the time of a separation are considered to determine a child’s best interest. Since you cannot predict what the circumstances will be at the time of a separation, terms related to child custody or child support are not included in a Prenuptial Agreement.
Should I have a Prenuptial Agreement if I do not have many assets when I marry?
It does not matter how many assets you have at the time you marry. A prenuptial agreement is helpful in protecting assets you accumulate after you marry. You can also protect earnings, retirement, and inheritance you may receive in the future. It can also protect you from your spouse’s debts.