Before you and your intended spouse marry, you should discuss your respective finances, including assets, debts, and anticipated inheritances. Imagine how unshared assumptions regarding property and finances could unnecessarily harm your relationship with your soulmate. Prenuptial and postnuptial agreements are ways to anticipate such issues and seek to prevent them from fracturing your lives. With the help of an experienced prenuptial and postnuptial agreements attorney, you and your spouse can protect assets you wish to maintain as separate property while agreeing on which assets can become marital property.
Of course, you don’t want to hurt this person you love so much that you have chosen to spend your lives together, and your spouse likewise would not want to hurt you. However, financial issues can lead to unforeseen conflicts that may threaten a marriage or lead to bitterness and difficulties that could remain even after spouses have divorced.
Prenuptial or postnuptial agreements can help you maintain your property rights if you and your spouse divorce or if one spouse passes away. If your financial situation changes over the course of your marriage and the two of you have never created a prenup, a postnuptial agreement lawyer can help you develop a postnuptial agreement.
You can include several terms in your prenup or postnup agreement, such as:
Contrary to some older popular perceptions, prenuptial and postnuptial agreements can strengthen a marriage by ensuring both spouses have a shared understanding regarding their property rights. Contact our prenuptial and postnuptial agreements legal team today to schedule a consultation.
A prenuptial agreement can help each person maintain control of specific assets in case of death or divorce, especially if:
The state of North Carolina recognizes equitable distribution of marital property during a divorce. By filing the appropriate financial disclosure documents and drafting a fair prenuptial agreement, you and your future spouse can determine how to manage joint property during the marriage.
While some people in the past have worried that creating a prenup with their partner could set up their marriage to fail, many couples find opportunities during this process to strengthen their bond and their finances. As they disclose assets and determine which separate properties are especially important to them, many couples have the opportunity to specify control over family businesses, family heirlooms, or property they intend to leave to children from a previous relationship.
Whereas many couples with large discrepancies in assets or debts create prenups, you may have perceived you did not need a prenuptial agreement at the time if you and your spouse shared a similar financial situation before marriage. If your situation changes during the marriage, you can still create a similar agreement in the form of a postnup.
Many times, these types of changes are unplanned. Perhaps you recognize a prenup could have been a good idea, so you’re pursuing a postnup now that you’re married, or maybe both of you are not in full agreement regarding some new investments. If either you or your spouse win the lotto jackpot, receive a surprise inheritance, or make a large return on investment from stocks or cryptocurrency, you should consider creating a postnuptial agreement to ensure both of you share an understanding regarding the implications of these changes.
Be aware that while you and your spouse can make decisions in a prenup or postnup regarding alimony, you cannot decide on child custody or child support in these agreements. Contact our legal team today to schedule a consultation.
North Carolina adheres to the Uniform Prenuptial Agreement Act (UPAA), which regulates the requirements for a prenup or postnup, including provisions that the agreement be in writing and signed by both spouses. Additionally, the agreement only becomes effective once the couple has married.
The state may reject a prenup or postnup if it finds that one spouse signed under duress, coercion, or threat, or if the terms of the agreement are “unconscionable.”
An agreement may be unconscionable if:
Whether you are taking careful steps to coordinate a shared understanding regarding finances before you marry or you harbor some concerns regarding how a potential financial change could impact yourself or your spouse, it is often a wise idea to consult a prenuptial agreement lawyer to make arrangements before your wedding day. If you have already married, you can make similar adjustments with a postnuptial agreement.
Our experienced prenuptial and postnuptial agreements lawyers can guide you and your spouse to prepare an agreement that meets your custom needs. Contact us today at Speaks Law Firm, PC Family Law Division in Wilmington, NC, to schedule a consultation.
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Below are some frequently asked questions about Prenuptial and Postnuptial Agreements:
A prenuptial agreement is a contract between two spouses who are planning to marry. This contract can cover many subject matters, including what would happen in a divorce. Many couples create prenuptial agreements with the help of a prenuptial and postnuptial agreements attorney to specify who will receive which property in the event of a divorce.
However, prenuptial agreements can also cover subjects such as:
A postnuptial agreement is similar to a prenuptial agreement in that it specifies what will occur in the event of a divorce. However, while a couple creates a prenuptial agreement before the marriage, they would make a postnuptial agreement after getting married.
Postnuptial agreements can cover any of the above subjects that are common in prenuptial agreements. Both spouses must sign and agree on the contract before it can go into effect.
Prenuptial and postnuptial agreements both have their places in North Carolina marriages. If a couple decides not to create a prenuptial agreement, then gets married, they can always create a postnuptial contract down the line. This contract can be just as valid and binding as a prenup.
However, creating a prenuptial agreement is generally the best option. If a couple cannot agree on serious issues like finances, spousal support, and life insurance before the marriage, they may decide not to get married. Sitting down and creating a prenuptial agreement is important in determining a couple’s values.
Because prenuptial and postnuptial agreements are legally binding contracts, you should complete them with the assistance of an attorney. A postnuptial agreement lawyer can help you create this contract and ensure that it will hold up in court.
At Speaks Law Firm, PC Family Law Division, our prenuptial and postnuptial agreements attorney has extensive experience helping couples through this legal process. Contact our prenup attorney today at (910) 769-7339 to schedule your case review.
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