How a Prenuptial Agreement Can Protect Your Marriage

Many couples wrongly think a prenuptial agreement is planning for your divorce before you are even married. Nothing could be more wrong! A well-negotiated prenuptial agreement can protect your marriage - and improve your relationship! The process of discussing the type of marriage you want to have, and your priorities for your financial future, raising children, business goals and retirement plans, will help you and your future spouse communicate better and learn more about each other before the wedding.

With people marrying at a later age and the increase in second and even third marriages, it's likely that each person will have more premarital assets, children, a business and other assets to protect. In marriages over the age of 50, a prenuptial agreement is likely to be much more complex than a prenup when you're younger with fewer assets. Couples entering a later in life marriage are likely to have a higher net worth and will want to protect their children's inheritance. As two consenting adults, you want to make sure your financial future is secure and negotiate a prenuptial agreement that protects your marriage and your future.

What Is A Prenuptial Agreement?

A prenuptial agreement, commonly called a prenup, is a contract that couples can enter before marriage. It is designed to straighten out financial matters and address the division of premarital assets, marital assets and other issues - such as debt - in case a couple decides to divorce. In Georgia, you and your future spouse can make a contract outlining rights to child custody, spousal support, and even division of assets in case you divorce.

Prenups can make a relationship even stronger by opening the lines of communication and problem solving together. Prenuptial agreements protect the pre-marital assets and property of each party from becoming divided in the event of a divorce. Prenups are also used to:

• set guidelines for spousal support
• protect personal interest in a family-owned business
• protect financial gifts and assets received from family members during the marriage

What NOT To Do If You Want a Prenup

Do not wait until the last minute to discuss a prenuptial agreement with your future spouse. Last-minute negotiations can add a great deal of stress to your wedding. You do not want to feel pressured to sign due to an impending wedding date. Start discussing what is important to each of you at least 6 months prior to your marriage and plan to have your prenuptial agreement signed no later than a month prior to the wedding.

Are Prenups Enforecable in Georgia?

A prenuptial agreement is enforceable if it complies with Georgia law. A valid prenup in Georgia must be:

• written in a precise and detailed manner
• made without the use of force or coercion
• voluntarily entered into by both parties
• drawn with complete financial disclosure between the two parties
• must not be unconscionable
• signed with two witnesses present

Is It Too Late If I Didn't Sign A Prenup?

Some couples enter their marriage without a prenuptial agreement. If you are married and do not have a prenup, you can enter into a postnuptial agreement. A postnuptial agreement is simply a prenuptial agreement negotiated after the marriage takes place. Both a prenup and a postnup agreement are valid and helpful.

Do You Need a Prenuptial Agreement?

Prenuptial and postnuptial agreements should be carefully drafted and must include a full disclosure of each party’s financial condition. A Gwinnett County prenup attorney can help you draw a prenup or postnup and make sure that it is executed correctly and legally. Contact Attorney Sharon Jackson today at (678)436-3636  to help you draft your Georgia prenup agreement or postnup agreement.