PRENUPTIAL AND POSTNUPTIAL AGREEMENTS
SAFEGUARD YOUR FUTURE
No one is thinking about divorce when they get married, but many marriages end in divorce. It is both common and wise to consider what would happen in the unfortunate event of a divorce, and agree on the terms before acrimonious emotions are involved. We can help you safeguard your future.
Prenuptial agreements set forth the terms of possession of assets, control of property, treatment of future earnings, and the potential division of such if the marriage ends in divorce. A postnuptial agreement is a written contract executed after a marriage to resolve the division of assets and other issues in the event that the marriage ends in a divorce. The lawyers at Pillow Hayes Family Law have helped many couples draft and execute pre and postnuptial agreements successfully and have advised clients involved in divorce actions where such agreements have been signed by the parties.
FREQUENTLY ASKED QUESTIONS ABOUT PRENUPTIAL & POSTNUPTIAL AGREEMENTS
What is a prenuptial agreement?
A prenuptial agreement is a contract voluntarily entered into before a couple gets married. This contract covers the rights of each spouse in the event the marriage ends in divorce. For example, the spouses may agree that each gets to keep any property they owned before the marriage rather than that property being divided up at the time of divorce.
Prenuptial agreements are a good idea before marriage, because spouses often feel differently during the potential acrimony of divorce. It’s best to establish the terms of divorce while you’re judgment is still clear.
What is a postnuptial agreement?
A postnuptial agreement is just like a prenuptial agreement, except the couple enters into the contract after they are already married. If you didn’t sign a prenuptial agreement before you got married, it’s not too late. Georgia law treats prenuptial and postnuptial agreements the same.
Who should have a prenuptial agreement?
If one or both spouses have high net worth or considerable assets before marriage, and want to keep those assets separate or ensure that they retain those assets in the event of a divorce, the couple should enter into a prenuptial or postnuptial agreement. Also, a person who has been through a prior divorce may want to enter into a prenuptial agreement to avoid further division of his or her assets in the case of another divorce.
Can a prenuptial agreement cover custody, child support and alimony?
Prenuptial agreements can be used to establish, limit or prevent alimony obligations in the event of a divorce, but they typically don’t cover child custody or child support. This is because the court retains the authority to make custody decisions that are in the best interests of the child at the time of the divorce, which cannot be foreseen by the couple at the time of marriage.
Does each party need their own lawyer when writing a prenuptial agreement?
Yes, each party should have their own lawyer who is working for the best interests of his or her client. A prenuptial agreement is an important contract, and your future will be shaped by it if you get a divorce. You should have your own lawyer who will make sure you’re protected.
Can a prenuptial agreement be modified later?
Absolutely. You can have a lawyer prepare an addendum to the original contract, and once it has been signed and witnessed, it becomes part of the original contract while reflecting new terms. Many prenuptial agreements include provisions about how to cancel the contract, or an automatic cancellation of the contract after a certain period of time.
Will a prenuptial agreement cover property distribution after death?
Property distribution after death is best covered by a will or trust, but you can include it in a prenuptial agreement if you really want to. If this is something you’re considering, you should discuss it with your lawyer to find out how to best determine the distribution of your property.
OUR PRACTICE AREAS
EVERY FAMILY IS UNIQUE
Every family is unique, and therefore every case is unique. At Pillow Hayes Family Law, we treat each matter individually, providing personal attention to our clients and their needs to ensure the best possible results. Our job is to protect the best interests of you and your family. We promise to work tirelessly to help you achieve your goals