The decision to draft a prenuptial agreement is a personal choice for every couple. If you are considering a divorce in Charleston, Ayers Family Law Firm wants you to be prepared when you write a prenuptial agreement, so that it will lead to amiable mediation if and when you and your spouse ever file for a divorce.
Why Should You Get A Prenuptial Agreement?
A prenup should not be seen as a precursor to a divorce, but rather an extension to the contract of marriage. Since marriage is a legal contract between two people, a prenuptial agreement simply serves as a financial plan for if that contract is broken. This financial aspect of a marriage should not be overlooked, and a prenuptial agreement acts as an insurance policy for your finances.
How To Draft Your Prenuptial Agreement
1. Open & Honest Communication
The process should start with a conversation between you and your spouse about why you would like to draft a prenup. These agreements are not just for the super-rich that you read about in tabloids, they can be very valuable for individuals or couples who own a home, financially support his/her spouse, own a business, are expecting inheritance or if one or both spouses have children from a previous marriage.
2. Assess Your Assets
Both spouses should make a list of their assets and talk over what should be retain or divided in the case of divorce. This should also include each party’s debts. Knowing this information, and drafting a mock prenuptial agreement will save you money when it comes time to consult with a lawyer. It is important that both parties do not hide any assets, if so, the family court judge may regard the prenup as invalid.
3. Act Quickly
By having the conversation as early as possible, you and your future spouse will have the time needed to discuss your assets and be prepared to draft the agreement. You should not wait until right before the wedding to obtain signatures, otherwise the judge may find that you coerced your spouse into signing the contract.
When creating a legal contract, it is essential that you follow formal legal protocol. You can draft a prenup on your own, but rarely do these agreements hold up in court or arbitrate in the way that they were originally intended. By hiring a family lawyer who has experience and expertise in writing prenuptial agreements, you and the future of your marriage will be in good hands.
— Written by Hunter Gardner