Indianapolis, IN Prenuptial and Postnuptial Agreement Attorneys
When two people get married they create a legal partnership. Each person brings into the partnership the debts and assets of their single life which then become a joint concern. As the marriage continues new debts and assets are created which also go into the marital estate.
If a spouse files for a dissolution of marriage, the marital pool of assets and debts is divided between the two parties and appropriate agreements such as child custody, child support, and a parenting plans are drawn up to protect any children of the marriage. This is a very simplistic view of a divorce but it is meant to explain the process in its basic form.
A prenuptial agreement is a legal contract that is signed by both parties prior to a marriage. A prenuptial agreement can protect the assets that you possess as a single person and keep them separate in a divorce action. This agreement can also include additional provisions for the division of marital property, payment of spousal maintenance, and attorney fees.
Executing a prenuptial agreement will assist both parties in the event of a divorce or death. It can streamline the process and can help avoid litigation. However, a prenuptial agreement cannot be used to determine child custody or child support which can be a contested issue in a divorce.
It is important that if you are considering drafting or signing a prenuptial agreement that you consult with a lawyer. Our Indianapolis family law attorneys can review the agreement with you and address any concerns that you may have with the contract language. An experienced prenuptial attorney can also help you negotiate any items in the agreement that you would like to have changed.
Another option is a postnuptial agreement, which can be created after the marriage takes place, and can have a similar effect as a prenuptial agreement—to keep certain assets out of the marital estate or determine the division of assets obtained during the union.
Not all states acknowledge postnuptial agreements. In Indiana a married couple may enter into a postnuptial agreement as long as it meets specific conditions. If you are interested in protecting your assets via postnuptial agreement, you should contact an experienced Indianapolis family law postnuptial attorney who can advise you of your rights.
Not just for the wealthy
If you have been married before, you may want to keep certain items separate from your new union. A prenuptial agreement is a great way to do this. If you chose to postpone marriage until you were able to establish your career, you may also have accumulated a great deal of wealth and may want to have a prenuptial agreement in place to preserve the nest egg you built.
Prenuptial agreements can be revoked or amended after a marriage takes place if both parties agree and file a new document.
Having a conversation with your potential spouse about a prenuptial agreement does not have to be an awkward situation. Open communication is a good cornerstone for a strong marriage. If you have questions about how a prenuptial or postnuptial agreement may benefit you, contact our Indiana family law attorneys.
The best way to protect your rights in a prenuptial or postnuptial agreement is to speak with a knowledgeable family law attorney. Ideally your marriage will last a lifetime, however, entering into a prenuptial or postnuptial agreement with a spouse is one way to protect your rights should the marriage break down. These agreements can be set aside by the courts if not properly executed. Having an experienced Indiana lawyer for family law help you draft an enforceable agreement can protect your rights. Contact us today to talk more about how a prenuptial or postnuptial agreement can help you.