While marriage represents the dreams of a lifelong commitment between spouses, many people choose to take a pragmatic approach to the possibility that their marriage may not last. In our experience as family lawyers, premarital agreements are not just for celebrities, but people with wealth or complex assets, or for people who have been previously divorced, who wish to simplify the issues and head off the potential for future conflict. It may not feel romantic to discuss a premarital agreement, but they are a mature and sensible method of risk aversion, that protects hard-earned property and let couple enter a marriage with a sense of confidence.
What is a Premarital Agreement?
A premarital agreement is a legally binding contract between future spouses that must be created before the marriage and takes effect on the date of the couple’s marriage. As long as an agreement complies with the statutory requirements, it’s terms are fully enforceable in court.
What Can Premarital Agreements Address?
Premarital agreements are allowed to create binding legal obligations regarding a broad scope of property, alimony, and survivor rights. Specifically, it may address:
- Each spouse’s rights and obligations regarding any property of either or both, “whenever and wherever acquired or located”;
- Each spouse’s right to “buy, sell, use, transfer, exchange, abandon, lease, consume, expend, assign, create a security interest in, mortgage, encumber, dispose of, or otherwise manage and control property”;
- How property will be disposed upon, separation, divorce, death, or “the occurrence or nonoccurrence of any other event”;
- Modification or elimination of spousal support, alimony, or maintenance;
- Concurrent creation of a will that comports with the terms of the agreement;
- The right to benefit from a life insurance policy;
- Any other matter that is not in violation of criminal laws or public policy.
If you have an interest in protecting your rights and creating certainty before your marriage, a family lawyer can talk with you about an agreement tailored to your specific needs.
Viloria, Oliphant, Oster & Aman L.L.P. is Here for You
Viloria, Oliphant, Oster & Aman, L.L.P. is a full-service law firm that offers top quality family law representation. If you are getting married and have significant or complex property, you should speak with an attorney about a premarital agreement. Our lawyers are experienced, thoughtful, and meticulous. We will listen to you and help you craft an enforceable agreement that will give you confidence heading into your marriage. Call Viloria, Oliphant, Oster & Aman L.L.P. today at (775) 227-2280 to schedule a family law consultation or contact our office through our website.