A prenuptial agreement, more commonly referred to as a “prenup” is a legal document signed by parties before they intend to marry. This is a common arrangement that allows both parties to protect their assets in the event of a divorce or marital troubles, as well as the death of one or both parties in the marriage.
While many prenup agreements revolve around financial assets, there can be far more to it than current or potential dollars. Terms of the couple’s children (even if they aren’t born yet), potential earned funds, business assets, properties, as well as debts can all be lined out in the couple’s premarital contract.
In essence, the prenuptial agreement outlines what will take place in the event of a legal dissolvent of the marriage, or divorce. Prenups are often signed by both parties and looked over by multiple lawyers, one for each signing or protected party.
Basics of Prenuptial Agreements Explained
Prenups can be very straightforward, or they can list out monetary payments in excruciating detail, for instance, X will take place in the event of an affair, Y will take place for each child, and so forth. These future circumstances allow a couple to plan out the legal end state of their future marriage, based on various potential outcomes for their marriage.
Prenups can expire, or remaining outstanding for the length of the marriage. An agreement can also change terms based on time within a legal union. Essentially, they are legal agreements that have many forms of leeway and creativity. They can contain unique formats that are rarely seen in other types of legal documents. For this reason, it’s important to talk with a lawyer who specializes in prenup agreements before writing or signing anything that could be legally binding.
Parties often contact a prenup lawyer when:
- They have sizeable assets
- They have separate children to whom funds will be willed
- They want to protect themselves and/or family members
- One party makes significantly more money
- One party has significantly more debt
- They want specific custody arrangements for pets
Phillips and Sellers, Prenup Attorneys in Georgia
Attorneys Scott Phillips and Angela Sellers are here to help with your prenup contracts and agreements. With years of experience practicing law in Columbus, Georgia, and the surrounding Chattahoochee Valley areas, their knowledge and expertise are readily available.
Whether you’re worried about protecting large or valuable assets or simply want to have a few things in writing before saying, “I do,” Phillips and Sellers, attorneys at law, can help with your legal needs.
Contact us today to learn more about prenup options in the state of Georgia or Alabama, and how you can get started with the document process. Email us today.