A nuptial agreement is a written contract made prior to or during the marriage that allows the couple to choose and control the legal rights they get after marriage and also what will happen if the marriage ends in legal separation or divorce. This enables the couple to decide how their assets and property will be divided, what will happen to their savings, and agree upon spousal support. So why should you get a nuptial agreement?
1) Timing is important
Nuptial agreements are of two types:
a) Prenuptial agreement
This contract is made before the marriage and finalized before the wedding happens.
b) Postnuptial agreement
This contract is made any time after the wedding but before separation.
Both these agreements have the same content and same goal. So timing is important when it comes to considering the type of agreement you need. You can seek advice from a Pasadena Family Law Lawyer who will help you make the right agreement.
2) Provides protection
A nuptial agreement clearly sets out how the couple will divide assets and property that they have brought into the marriage and that can be obtained in the future during the marriage. This could include property the couple purchased or an inherited gift they received individually.
So the couple decides the terms and agrees to them during the agreement. However, there is no law that can prevent one spouse from trying to overrule some or all of the terms in the agreement, but they need to prove in court that these terms need to be changed.
Since the terms mentioned in the nuptial agreement are agreed to by both spouses and thus are not unfair to one spouse, the court will always try to stick to the nuptial agreement whenever they can. This is why this agreement offers the best protection if the marriage ends in separation or divorce.
3) Easy to collaborate
When creating a nuptial agreement, whether before or after marriage, both spouses will be in a good relationship, so focusing on resolving the issues and agreeing to the terms is much easier.
In the events of a separation or divorce, resolving these matters can be extremely difficult due to the emotions involved and the changes experienced. Considering making a nuptial agreement in advance can allow you to mutually reach a fair agreement.
4) Offer flexibility
The terms are made and agreed upon mutually, so they can be customized according to both spouses’ needs. It could focus on only one asset, or it could include every detail regarding how the assets, properties, savings, incomes, and other things will be divided.
The couple can also include how to deal with future issues in the agreement, but sometimes it may not happen the way they imagined. So this is why this agreement can be updated or changed whenever needed if both the spouses agree to the changes.
5) Saves time, money and gives peace of mind
In case the marriage ends in separation or divorce without a nuptial agreement, then negotiation between the two parties will be essential. And this whole process can be difficult and overwhelming for both parties as the matter may take a lot of time, sometimes more than 1 or 2 years.
This can affect the ex-spouse’s daily lives, causing psychological and emotional stress and also adding to the expense. So a nuptial agreement with the help of Joliet Family Law Firm can save you from all this while also protecting you and your rights after separation or divorce.
We plan for everything in our lives but forget the most crucial aspect, what will happen after separation or divorce? So nuptial agreement is a type of financial planning that will help you keep your rights protected in case your marriage fails.