Who should get a prenuptial Agreement?
Anyone who is seeking to protect property and assets that they are bringing into a marriage. No matter the size of your estate, protection is important. Without protection, your assets may be negatively affected by a divorce.
The agreement can support your estate planning goals, protect separate property, reduce future conflicts, and establish guidelines for future matters.
What does a prenuptial agreement cover?
- Finances and income;
- Debts;
- Providing for children from prior marriages;
- Inheritance and separate personal property;
- Division and characterization of each person’s assets; and
- Clarifying the responsibilities of each spouse during the marriage.
What cannot be included in a prenuptial agreement?
A prenuptial agreement cannot include language regarding child support, or the custody and visitation rights if the spouses were to divorce.
Additionally, in many states language that references who is responsible for household chores, taking a spouse’s last name, or deciding how to raise your children is unenforceable and should be left out.
Is a prenuptial agreement enforceable?
A prenuptial agreement is a contract. Contracts between two consenting adults are generally honored and enforceable. However, prenuptial agreements are often scrutinized by courts with more care. For a prenuptial agreement to survive scrutiny it must be entered into with fairness and full disclosure from both parties. Each party should have separate attorneys review the text of the agreement and should receive a full disclosure of assets and financial information from the other partner.
If any of these aspects of the process are violated the agreement may be invalidated in a dispute.
For Prenuptial and Post Nuptial Agreements in Boise, Idaho,
call Davis and Hoskisson, PLLC today.