Properly negotiated prenuptial and postnuptial agreements are important financial planning tools that allow both parties to maximize their wealth. You should be aware that pre-formatted prenuptial and postnuptial agreements do not offer the same level of protection, or account for the unique characteristics of each marital situation. Smith Haughey family law attorneys have the expertise to prepare prenuptial and postnuptial agreements tailored to your unique situation.
Most people are aware of prenuptial agreements: they are a way for spouses coming into a marriage to forego many of their legal rights in their spouse’s property in the event of a divorce or death. Prenuptial agreements are entered into before the marriage. Postnuptial agreements are less well known. Postnuptial agreements are entered into after a marriage. In the past, the courts hesitated to uphold those agreements. However, the current trend is to uphold these agreements if they are intended to promote harmonious marital relations and the agreement does not encourage separation by leaving one party in a much more favorable position if the marriage ended.
Smith Haughey family law attorneys are skilled at preparing, reviewing and negotiating both prenuptial and postnuptial agreements. These agreements can be designed to anticipate how premarital, inherited and separate assets will be allocated in the event of divorce. They may also address concerns specific to families with children from previous marriages and/or relationships. Other prenuptial and postnuptial agreement issues:
- Identification of marital versus separate assets and income
- Inheritance and estate planning considerations
- Future support of spouse and children
- Full disclosure of existing assets and debts