What is a Prenuptial Agreement?
A Prenuptial Agreement is an agreement entered before marriage for both parties to determine how their assets and income would be disbursed in the event of separation, divorce or death. A Prenuptial Agreement can be a very useful financial planning tool for many couples. They use this agreement for clarification purposes. Having these details worked out before marriage can save time & planning, should the marriage fail.
Who Should Consider a Prenup?
You might want to consider a Prenuptial Agreement if you have children from a previous relationship. The reason for this is if you are to get married and then pass away the surviving spouse will get most of your assets and this may leave little for the children from your previous relationship. In order for a Prenuptial Agreement to be enforceable, both parties must make full disclosure prior to having the agreement executed.
In conclusion At Davis, Upton & Palumbo LLC, we are experienced with property division in high-asset family law matters. We understand the need for an investigation, appraisal, and full disclosure by the parties.To learn more about our Family Law services click here or contact us today.