Prenuptial Agreements Lawyers in Clarksville Helping You Prepare for the Future
One of the major parts of going through the divorce process is protecting your assets and financial interests, but what if you could make a plan for that in advance? That’s exactly what a prenuptial agreement is for. And while no one wants to think about divorce when they’re getting married, it’s a good idea to be prepared just in case. Keep reading to learn more about prenuptial agreements and their benefits.
If you’re interested in using a prenuptial agreement and want more information on what can be included and how these documents work, call our Clarksville law office. Our team of family law attorneys has direct experience working with prenups and can give you more details on the pros and cons and how to draft a document that works for your needs.
What Is a Prenuptial Agreement?
A prenuptial agreement is a legally binding document that spells out exactly how property will be divided in the event of a divorce. It’s called a prenuptial agreement because it is created prior to the marriage. A similar document can be created after the marriage has happened and is called a postnuptial agreement. Prenups used to be reserved for couples where one or both parties had a high net worth and wanted to protect that, but they are now a very common practice across all socioeconomic statuses.
What Can Be Included in a Prenuptial Agreement?
Prenuptial agreements can include many things that are decided if and when a divorce happens so that the decisions are already made. However, there’s a common misconception that anything can be put into a prenup and that the courts in a divorce will enforce it. But in reality, there are specific things that a prenuptial agreement can handle. In general, prenups deal with property division and financial matters, such as alimony. They cannot include anything related to child support or child custody.
Can a Prenuptial Agreement Be Changed or Canceled?
It is possible to change or terminate a prenuptial agreement after one has been created. This is something that many couples need to address, as assets and financial situations usually change after several years of marriage. In general, this is a simple process as long as both parties agree to the change or termination. If one party does not agree, the prenuptial agreement stands as is and cannot be changed. It’s important to talk to an attorney before changing a prenuptial agreement to ensure that any modifications are within the scope of what a prenuptial agreement can lay out and that you understand how those changes affect what you would get in the event of divorce.
How Does Having a Prenuptial Agreement Impact the Divorce Process?
It’s not uncommon for couples to see prenuptial agreements as a waste of time and money because you’re not thinking about divorce before you’re even married. But divorce is an unfortunate reality for many couples, and it’s better to be prepared and never have to use a prenup than to find your assets up for grabs later on. If you have a prenuptial agreement, it can significantly speed up the divorce process because there is nothing to argue over when it comes to property division, and the less time you have to spend arguing over details, the less expensive the divorce is likely to be as well. Having a prenuptial agreement also often ends up giving the parties a more equitable settlement because there isn’t the same tension and negative emotion when drafting a prenup as there is when actually going through the divorce.
When you’re getting ready for happily ever after, it’s easy to forget that things don’t always work out as planned. A prenuptial agreement can give you that safety net to fall back on if you have to change paths in the future. Schedule a free consultation to find out more about Hibbeler & Associates and how we’ve helped other clients with prenuptial agreements by calling our Clarksville office at 931-236-2711.