David Turlington, Attorney at Law, lists on what a prenuptial agreement can do to a marriage. For more check out Turlington Law: https://lawyers.justia.com/lawyer/david-turlington-iii-873117
David J Turlington: Can a prenup help avoid divorce?
1. Q: Can a Prenuptial Agreement
Help Avoid Divorce?
David J Turlington
The Law Office of Turlington Law Firm
David Turlington Law
2. David Turlington Law
What is a prenuptial agreement?
A contract that predetermines each spouse’s financial obligations
in the event of a divorce.
Settles property ownership and division. Either party may keep
personal properties accrued prior to marriage, or claim joint
ownership. Neither spouse is obligated to financially contribute to
the maintenance of the other spouse’s property.
Settles debt ownership. Without a prenuptial agreement, after
marriage, the debts of one party are inherited by the other party.
With a prenup, premarital debts can be kept separate.
Settles spousal support. The terms of spousal support, including
alimony, can be drawn up in advance.
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What a prenuptial agreement can’t do:
Can’t dictate provisions for child support. The needs of current or future
children are determined by the courts based upon what it deems to be in
the best interest of the child.
Can’t assign child custody. Again, custodial rights are granted by the
court, and custody cannot be legally determined solely by contractual
prearrangement.
Can’t guarantee marital behavior. While lifestyle clauses might be
included in a prenuptial agreement, they aren’t necessarily enforceable,
since they can be difficult to prove, can be considered frivolous, and might
not be valid in some states.
Can’t circumvent state or federal laws. Even if both parties agree to
certain lifestyle choices, if those choices are illegal, their presence may
invalidate the whole document.
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How can a prenuptial agreement strengthen a
marriage?
Full disclosure of personal and business assets. Both parties must
disclose all assets. If it is discovered that either party concealed assets
prior to signing, the agreement is rendered invalid.
Frank discussion about marriage expectations and finances. Prenuptial
agreements require a full, open, and practical conversation about
marriage expectations, goals, and roadblocks.
Gives both parties control of their future. Spouses are given the
opportunity to agree upon mutually beneficial outcomes in the event of a
dissolution
A prenup can preempt financial stressors. Many of the challenges
married couples face (debts, inheritances, asset management) can be
addressed early on
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How can a prenuptial agreement weaken a marriage?
Can indicate a partner’s lack of faith in the relationship’s
endurance. Some may feel as though prenuptial agreements “plan
for divorce”
Either party might feel pressured. When one party has significantly
more wealth, that party might insist upon a prenuptial agreement.
Some prenuptial agreements police behaviors. While they may not
be enforceable, lifestyle clauses might nonetheless be included, and
can be viewed as controlling.
May signify a lack of commitment. If divorce is easy, the incentive
to commit to a marriage might be reduced.