Richard C. Bardi & Associates LLC

Premarital agreements provide important protections

A prenuptial agreement is an important protection for both parties who are getting married. Thinking about these agreements at the beginning of the engagement can help you to ensure that you are getting it all set up in the best way possible. There are a few considerations that you have consider when you are preparing to sign a prenuptial agreement.

First, you have to set the agreement up to be fair. In order to do this, you have to fully disclose all applicable financial matters to the other party. Hiding assets isn't ever allowed, and deciding to hide assets can lead to the agreement being invalidated. The circumstances of the marriage, such as the length of it, matter when determining what is fair.

Second, both parties have to be given ample time to consider the agreement. You can't present it the day before the wedding and think that it should be signed. Instead, you need to give the other person time to consult with their attorney and review the conditions.

Third, you can't include any terms about children in the prenuptial agreement. Any child custody agreements must be made at the time of a divorce since you can't know ahead of time what is going to be best for the children far in advance.

Fourth, you can discuss alimony payments in the premarital agreement. This might be that there is a waiver of them so that neither party can seek them if they divorce. It might also set specific payment terms for them.

The prenuptial agreement must be carefully considered to ensure that the terms are in your best interests. Be sure that you only sign it if you are completely comfortable with all of the contents.

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