Marrying again? Is a prenuptial agreement right for you?

Tuesday, 23 August 2016 18:43 Written by  Jessica A. Pritchard

 

The decision to remarry is not made lightly.  Marrying a second time is oftentimes very different from a first marriage.  Parties involved in a second marriage are likely to have assets and children from a prior relationship.  Recalling the time, money and emotional energy spent during a divorce, friends and advisors might mention a prenuptial agreement.  A well-drafted prenuptial agreement can protect these hard-earned valuables.

Is a prenuptial agreement right for you?   It is if you want to avoid the aggravation and expense of litigating your future.  Protect yourself.

A prenuptial agreement is a contract between persons who plan to marry.  The agreement addresses how property is to be divided or the terms of support/alimony in the event of a divorce or the death of one of the parties.  Executing an agreement before being married in order to address what will occur in the event of divorce is not romantic, but it is smart. 

What can be expected?  What needs to be done?

Once it is decided that a prenuptial agreement is appropriate, the first step is to contact an attorney well in advance of a wedding date.  Presenting a prenuptial agreement to one’s fiancée on the eve of a wedding adds unnecessary pressure to an already stressful time.

Anticipate providing your attorney documentation of current assets, liabilities and sources of income.  To ensure that an agreement's validity cannot be challenged at later date, the parties must disclose their current financial status.  Prepare an outline of assets and liabilities and bring recent tax returns to your meeting to help make the process easier.

Jessica A. Pritchard

Jessica A. Pritchard

Jessica A. Pritchard, focuses her practice exclusively in the area of family law, where she handles all phases of the negotiation and litigation of domestic relations cases, including divorce, child custody, child support, alimony/spousal support, equitable distribution, and prenuptial and postnuptial agreements.

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