Understanding Prenuptial, Postnuptial And Mid-Marriage Agreements
For couples who are planning to marry, creating a premarital agreement, also called a prenuptial agreement, can be an important step in the process of combining lives and assets. While prenuptial and, in some cases, postnuptial agreements are not for everyone, these agreements can serve as legal tools that help to protect both parties.
At Divorce Mediation Plus, our experienced Virginia prenuptial and postnuptial agreement attorneys have helped many couples over the past 40 years in Leesburg and the northern Virginia area understand the benefits of forming these agreement types and created agreements that both parties are happy with.
What Is A Premarital Agreement?
A premarital agreement is a legal agreement that is entered into before marriage. A premarital agreement can address numerous issues, including:
- The rights of each spouse regarding their separate property
- Who can buy, sell, exchange, lease, dispose of and manage property
- Whether or not one spouse will make alimony payments to the other in the event of a divorce
- Whether or not a spouse will be entitled to life insurance benefits in the event of the other’s death
- How property will be divided upon the death of a spouse or in the event of divorce
A premarital agreement can address nearly any financial issue that the couple may encounter over the course of their marriage or at the time of divorce or death, so long as it is not illegal or in opposition to an existing statute.
A postmarital or postnuptial agreement is the same as a prenuptial agreement, except that a postnuptial agreement is formulated after the couple is legally married.
What Cannot Be Included In A Prenuptial, Postnuptial Or Mid-Marriage Agreement?
Important financial stipulations may not be included. You cannot use your prenuptial agreement to:
- Establish custody of a child in the event of a separation or divorce
- Determine how much child support parents will be liable for in the event of a divorce
- Establish guidelines or rules about personal matters such as where holidays will be spent or who will be responsible for certain household items
- Make decisions about anything illegal, such as investments in an illegal enterprise
- Encourage divorce
Forming a prenuptial or postnuptial agreement can help protect the separate property of you and your spouse, save money in the event that you divorce and eliminate conflicts upon divorce.
Contact Our Divorce Lawyer Today
If you are about to marry or already are married and have questions about prenuptial or postnuptial agreements and how to go about forming either, our attorneys can help. To learn more about the benefits of creating a prenuptial or postnuptial agreement and our experience, call our family law office at 703-777-7740 or send us an email.