Every year when spring is in full swing, people’s thoughts turn to graduations, weddings, Summer vacations and….. Prenups?!
Yes, as many weddings are planned for the Summer months, Spring is a time some people’s thoughts turn to prenuptial agreements. Unfortunately, these matters should be addressed much earlier. Prenuptial agreements, also referred to as Premarital Agreements, often address substantial rights and waivers on the part of both parties. It is an agreement that should be carefully negotiated and reviewed well in advance of the marriage. Too many people treat the prenuptial agreement as a last minute detail to complete prior to the Big Day. Weeks away from the wedding is not the ideal time to be negotiating a prenuptial agreement.
Premarital agreements, like just about any other legal matter, are much more involved and require much more time than most people anticipate. Full disclosure of all financial information is required. Premarital agreements address not only alimony, but assets and debts. Provisions detail certain outcomes that will occur if
the marriage fails and any contingencies that may apply. Other provisions may also address outcomes in the event of the death of either party.
It is very important to take your time and understand all of the options and legal consequences of the various available provisions. Rushing through this process is not in anyone’s best interests.
If you or someone you know is getting married and considering a prenuptial agreement, they should contact an attorney sooner rather than later.