State law effects many aspects of a marriage, including how financial and property assets are divided, an individual’s rights and obligations at divorce, or a surviving spouses rights at the others death. These laws set the standards for a marriage, giving substantial power and influence to the courts over the details of your marriage or divorce.
The best way to avoid future dispute, protect individual assets is to incorporate a prenuptial agreement, and otherwise keep control over the structure of your marriage is to enter into a prenuptial agreement. A prenuptial agreement, commonly referred to as a “prenup”, is an agreement made by a couple before marriage concerning the standards and details should the marriage fail or a spouse pass away. A prenuptial agreement works like other contracts, with the soon-to-be spouses mutually agreeing and authorizing to alter certain aspects of the marriage from what would be applied by law.
There are three essential requirements of a prenuptial agreement- that it is voluntary, that both parties have sufficient information regarding the assets and financial obligations of the other, and that the agreement is not an unfair product of overreaching or deceit. If all of these requirements are met, a prenuptial agreement may be a powerful and effective tool to meet the unique needs of a married couple. A premarital agreement may include agreements as to:
- Defining what assets belong to whom.
- Outlining the details of each individual’s estate plan.
- Setting standards for future dispute resolution.
- Other special agreements or arrangements between spouses.
Setting ground rules and mutual understanding at the beginning of a marriage may help alleviate future dispute and misunderstandings. Although prenuptial agreements are sometimes seen as taboo or viewed in a negative light, they can be a great mode of straightforward communication and strengthening the long-term relationship.
The attorneys at Simpson, Jensen, Abels, Fisher & Bouslog, P.C. are experienced in drafting agreements that meet your individual needs. Contact us at (515) 288-5000 to discuss your prenuptial agreement with our firm.
Simpson Jensen Abels Fischer & Bouslog Law P.C. blogs, legal updates, and other content are for educational and informational purposes only. This is not legal advice and it does not create an attorney/client relationship between and Simpson Jensen Abels Fischer & Bouslog Law P.C. and readers. Readers should consult an attorney to understand how this content relates to their personal situation and circumstances. You should not use Simpson Jensen Abels Fischer & Bouslog Law P.C. blogs or content as a substitute for legal advice from a licensed attorney.