Prenuptial Agreement Split: What You Need to Know
When two people decide to get married, the last thing on their minds is usually a divorce. Unfortunately, divorce is a reality for many couples, which is why it`s important to consider a prenuptial agreement. A prenuptial agreement, also known as a prenup, is a legal document that outlines how assets will be divided in the event of a divorce.
While prenuptial agreements have been around for some time, they have become more popular in recent years. This is partly due to the fact that people are getting married later in life, and they often have more assets when they get married than they did when they were younger. Additionally, many people have been through a divorce before and want to protect themselves in case their next marriage doesn`t work out.
If you`re considering a prenuptial agreement, it`s important to understand how the split of assets will be determined. Generally speaking, a prenuptial agreement will split assets based on what was agreed upon by the parties at the time of the marriage. This means that any assets acquired during the marriage will be divided according to the prenuptial agreement.
However, there are exceptions to this rule. For example, if one party can prove that the prenuptial agreement was signed under duress, the agreement may be thrown out. Additionally, if the prenuptial agreement is found to be unfair or unreasonable, a court may not enforce it.
Another important factor to consider is state law. Prenuptial agreements are governed by state law, which means that the rules for enforcing a prenuptial agreement will vary depending on where you live. Some states have strict guidelines for prenuptial agreements, while others are more lenient.
Ultimately, a prenuptial agreement can provide peace of mind for both parties in the event of a divorce. It can protect assets that were acquired before the marriage, establish guidelines for the distribution of assets, and potentially save time and money in the event of a divorce. However, it`s important to consult with a qualified attorney to ensure that your prenuptial agreement is valid and enforceable under state law.
In conclusion, a prenuptial agreement is a smart decision for any couple who wants to protect their assets in case their marriage doesn`t work out. While the split of assets in a prenuptial agreement is generally determined by the agreement itself, it`s important to consider state law and consult with an attorney to ensure that the agreement is valid and enforceable. By taking these steps, both parties can feel confident that their assets are protected and their interests are represented.