What is the purpose of a prenuptial agreement?

| Oct 21, 2020 | Prenuptial Agreements |

When a Georgia couple decides to get married, they do not usually want to think about what will happen if they get a divorce. However, with thousands of couples filing for divorce each year, it is in the best interest of engaged couples to prepare for the worst-case scenario. A prenuptial agreement provides you and your soon-to-be spouse with financial security in the event that your marriage does not last forever.

What is a prenup?

A prenup is a legal contract between two people who are planning to get married. The main purpose of a prenup is to address any property division issues that may arise if the couple chooses to get a divorce. A valid prenup can address almost all financial matters, including:

  • Disclosure of marital and separate assets and debts
  • Terms detailing property division
  • Terms detailing alimony
  • Provisions for children from previous marriages
  • Protections from other spouse’s debts

Elements of a valid prenup

If you and your fiancé(e) decide to get a prenup, you may benefit from consulting with an attorney to ensure that the courts will consider it valid. In general, a valid prenup must be:

  • In writing
  • Signed by both parties, and neither must be coerced to sign or under duress while signing
  • Signed in front of witnesses
  • Signed after both parties have had time to consider the terms of the agreement

The prenup must also contain only accurate and complete information, and not include any illegal clauses.

Deciding whether to get a prenup is never an easy decision, but couples that do have one in place may find the divorce process to go much more smoothly if the time comes. A divorce attorney can review your and your soon-to-be spouse’s assets and help you decide whether a prenup is right for you.

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