CATEGORY: Premarital Agreement Questions

Answers to Frequently Asked Premarital Agreement / Prenuptial Questions

If a Signed Premarital Agreement is in Place and One Spouse Files for Divorce, How is the Prenup Enforced?

The purpose of a Prenuptial Agreement is to make provisions for the retention or division of property upon the filing of a divorce.

The divorce proceeding itself is the only time that the terms of the ‘prenup’ are applied: when the parties separate and a divorce is pending. Continue reading If a Signed Premarital Agreement is in Place and One Spouse Files for Divorce, How is the Prenup Enforced?

Does My Last Will and Testament Take Precedence Over My Premarital Agreement After My Death?

If the terms contained within a Last Will and Testament and a Premarital Agreement contradict each other, the Probate Court judge assigned to your estate case would decide upon the appropriate application of the two documents as they relate to the distribution of your assets after death. Continue reading Does My Last Will and Testament Take Precedence Over My Premarital Agreement After My Death?

Is a Premarital Agreement Legitimate If It Is Not Created by Attorneys Each Representing One of the Parties?

If the soon-to-be husband and wife are concerned about their individual assets entering into the premarital agreement process — or even if they are uncomfortable having financial discussions directly — then the couple should choose to secure individual legal counsel and have the attorneys “negotiate” the document.

(Certainly the bar association would recommend this; that keeps the lawyers working!) Continue reading Is a Premarital Agreement Legitimate If It Is Not Created by Attorneys Each Representing One of the Parties?

Can I Create a Premarital Agreement After I Marry?

A premarital agreement (often called a prenuptial agreement) must be created and signed prior to marriage to be effective.

Depending upon the state in which you live, property may become marital property automatically upon marriage if no pre-nuptial agreement is signed prior to the marriage. Creating a premarital agreement after the fact does not void these laws.

Get complete details on Standard Legal’s Premarital Agreement legal forms software here.

Can I Use a Premarital Agreement to Protect My Future Spouse’s Credit Report from My Bad Debts?

Generally, a pre-nuptial agreement will not “protect” a future spouse from bad debts, as the premise is not correct.

Debt incurred in one person’s name is that person’s debt alone. So regardless of the terms contained in a premarital agreement, the debts of one spouse do not become the debts of the married couple — those debts stay as the responsibility of only the person who incurred them.

Further, distinct and separate credit events will not affect a spouse or future spouse; debts that are held singly (instead of jointly) affect only the person incurring such debt.

Debt incurred by BOTH the husband and wife AFTER marriage affects both spouses, however.

Does a Couple Signing a Premarital Agreement Provide Income Tax Returns to Each Other?

In a Premarital Agreement, the parties can certainly provide income tax returns to each other as proof of income.

But better yet, they should provide full disclosure of ALL of their assets on a document like Standard Legal’s Premarital Agreement. Continue reading Does a Couple Signing a Premarital Agreement Provide Income Tax Returns to Each Other?