A Pre-Nuptial agreement is a written contract that a couple freely enters into before they get married. While a Post-Nuptial agreement is a written contract that spouses willingly enter into after they are already married. The purpose of these contracts is to spell out exactly how financial matters, including property and other assets, debts, and support will be managed and divided in the case of divorce or upon the death of either spouse.
There are numerous scenarios to think about when deciding if having a pre-nuptial or post-nuptial agreement is right for you. The most common reason couples decide to have a pre-nuptial or a post-nuptial agreement is to establish in advance how money and other assets will be shared in the event of divorce. Rather than leaving the decision primarily to divorce attorneys, you and your spouse will be the ones proactively determining how your finances and other matters will be taken care of if the marriage ends.
Prior to finalizing a pre-nuptial or post-nuptial agreement, it is crucial that each spouse retain independent legal counsel (have their own lawyers). After a full disclosure of financial assets and any other relevant information is obtained from both parties, both attorneys will work together to draft a final, equitable agreement. This will ensure that the document is created in the best interest of each party, and will be legally enforceable by a court of law in the event of divorce.
At The Law Offices of Elizabeth A. Douglas, PLLC, we understand how important it is to draft a solid contract that contains no legal loopholes, and we will help you put together an agreement that is fair and just for both you and your spouse.