Premarital Agreements
What is a premarital agreement?
A premarital agreement, also referred to as a prenuptial agreement, is a contract entered into by spouses prior to marriage. In the event that the parties seek to dissolve their marriage, the contract provisions would apply to the extent that they affect property division and spousal support.
What is the general benefit of a premarital agreement?
By going through the process of creating a premarital agreement, a couple becomes very informed about marital legal obligations and thus has the opportunity to contract around those obligations (to the extent permitted by law). For example, a couple may want to avoid the creation of community property, or they may wish to contract around their spousal support rights and obligations.
I am considering a premarital agreement and think it is the right option for me, what do I do next in order to get the process started?
Give us a call at least six weeks before the wedding. We’ll gather a brief bit of information from you and work to schedule a consultation. When we meet, your attorney will review your goals and concerns with you, and provide information about your options accordingly.
What happens after THE CONSULTATION?
Once the client’s goals are clear, and if desired, our office will initiate a four-way meeting between both you and your fiancé(e), your fiancé(e)’s attorney, and your attorney. While not necessary, it is optimal to have a four-way meeting early on to clarify each person’s goals and concerns in order to make some general agreements about what the document will specify. This process helps avoid relationship stress later on and a lot of (expensive) back and forth negotiation and editing after a draft has been produced.
Can a premarital agreement be flexible? Will I/we have the option to modify the agreement after we are married?
You can modify a premarital agreement as long as both parties approve of the changes. However, this can be problematic as any change would constitute a post-marital agreement – which may be more difficult to enforce in the event of a divorce. Verbal agreements to modify a premarital agreement are not valid. If you want to modify a premarital agreement, you should consult with an attorney about how to accomplish your goals.
My fiancé(e) asked me to sign a premarital agreement, but I don’t want to – do I have to sign?
No. You should not sign a contract if you don’t want to be bound by its terms. That’s true for any type of contract.
Should my partner and I each have our own lawyer?
While the law does not require it (except in certain circumstances), our office will only work on premarital agreements if both parties have an attorney to guide them. That’s because if only one side has an attorney, and the other doesn’t, the agreement might be harder to enforce if it’s ever needed.
Will you review a premarital agreement that my fiancé(e)’s attorney has drafted?
Yes, provided we can begin working on it at least six weeks in advance of the wedding.