A Prenuptial Agreement (also referred to as an Ante-nuptial Agreement) is a contract between two parties who intend to marry and wish to define their respective rights relative to premarital property and spousal support in a binding agreement that would take effect upon termination of the marriage by divorce or death. They may also wish to address in this premarital contract certain property rights during the marriage.
It is advisable that parties do not wait until the last minute to consider the drafting of a Prenuptial Agreement, as a full financial disclosure of both parties’ assets and debts—and their intentions regarding same—must be made in order for the agreement to be prepared. Each party usually retains separate attorneys, with one party’s attorney drafting the agreement. The attorney of the other intended spouse would review this draft on behalf of his or her client to ensure that a fair contract has been achieved. If changes are necessary (and they often are), a “back-and-forth” communication would ensue. Eventually, the document is finalized, with all financial elements disclosed and addressed, and both parties sign the agreement.
The binding value of legal rights as outlined in a Prenuptial Agreement is substantial. The family law attorneys at MacElree Harvey are well-versed in the particulars of Prenuptial Agreements and are available either for drafting or review.
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