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Prenuptial Agreement

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A prenuptial agreement is a contract between two people about to wed that spells out how assets will be distributed in the event of divorce or death.
We have do-it-yourself prenuptial agreement forms that can be downloaded to your computer and prenuptial agreement form guides and prenuptial agreement form kits that are shipped by standard mail.
You should consider having a prenuptial agreement if you fall into any of the following categories:

  • You have assets such as a home, stock or retirement funds
  • Own all or part of a business
  • You may be receiving an inheritance
  • You have children and/or grandchildren from a previous marriage
  • One of you is much wealthier than the other
  • One of you will be supporting the other through college
  • You have loved ones who need to be taken care of, such as elderly parents
  • You have or are pursuing a degree or license in a potentially lucrative profession such as medicine

Perhaps the most important ingredient of a solid prenuptial agreement is honesty. Both parties must fully disclose their assets. If it turns out either person has hidden something, a judge can toss out the prenuptial agreement.
The prenuptial agreement should be signed as early before the marriage as possible to avoid the appearance of coercion, another key reason why some prenuptial agreements are rendered null and void.
Finally, and although it seems obvious, make sure the prenuptial agreement is in writing and it is recommended the contract be signed in triplicate with the groom and bride each getting an original copy, and a third being kept with an independent lawyer, CPA or in a safety deposit box.

 

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