You just got engaged, now what?
Smythe & Jones, PLLC offers representation for individuals who are looking for prenuptial and/or postnuptial agreements. A prenuptial agreement is made by a couple prior to their wedding day in regard to financial and other matters of their marriage. Whereas, a postnuptial agreement is made after marriage. A prenuptial agreement is not necessary to get married, however, Smythe & Jones, PLLC reviews each potential new client on a case by case basis and offers candid advice so that the client can make the best decision possible before proceeding.
Do I need a prenup?
A prenuptial agreement can be useful in many ways; such as having a document that each party came into the marriage with that would make divorce calculations easier, and/or clearly defining how assets will be distributed so that parties know upfront what their marriage will look like and what the rules are going to be. Prenuptial and postnuptial agreements are helpful when one party has children from a previous relationship and/or if one party has arrangements for maintaining certain business interests. It’s common for these agreements to mention property ownership issues because having a prenuptial agreement can affect how property is managed during the marriage, as well as through divorce or death.
What else can be included in a prenup?
In addition to the examples listed above, prenuptial agreements can include alimony that can be stated as an amount certain or in a formula that later calculates how it may be worked out. Couples may also include plans for what they want their married life to look like, such as agreeing on rights and responsibilities, child-raising roles, managing family finances, and/or paying bills. Couples may also decide to make their own rules if they have a different definition of marriage or family. Finally, the couple should also consider what happens if down the road they decide to do things differently and not follow the plan they drew up.