Waxhaw Prenuptial Agreement Lawyer

Waxhaw Prenuptial Agreement Attorney

While marriage is intended to be a happy, joyous union of two like-minded people, it is important to remember that it’s also a legal contract between two willing participants. While the future is unwritten and could result in a financial union, there is a possibility that both parties may enter the marriage under very different financial circumstances. It might be important to take precautions with a Waxhaw prenuptial agreement lawyer.

Lehnhardt Price Family Law can help you create a fair and clear prenuptial agreement for peace of mind. A skilled Waxhaw family law attorney can guide you in making the best decisions for your future.

What Is a Prenuptial Agreement?

A prenuptial agreement is a legally binding document that both partners in a marriage agree to sign to protect each other’s premarital assets if the marriage ends in divorce. A prenuptial agreement, which is also known as a prenup, lays out the financial responsibilities of both parties if a divorce occurs. Prenups can include anything, within reason, that you want to be pointed out, such as infidelity, alimony payments, and division of assets. Prenups cannot address child custody issues or child support issues, however.

Many couples may be initially reluctant to pursue a prenuptial agreement, as they can often be viewed by one of the spouses as a threat to the marriage. If there is a significant financial inequality in the relationship, the higher-earning spouse may want to take precautions regarding their assets. They want to be certain their partner is marrying them for love, not financial security. The other spouse may see this precaution as preparation for divorce.

In many cases, the higher-earning spouse may seek to use a prenuptial agreement to test the waters of their future marriage. They may ask for a prenup to see what their potential spouse’s reaction will be. Generally, an overwhelmingly negative reaction may be a sign of what’s to come in regard to compromise and financial freedom. Some people aren’t sure if they need a prenuptial agreement. Learning why others choose one can help you decide if it’s the right choice for your situation.

Prenups are often made are specific to each couple and their unique circumstances. Each person brings different financial benefits and drawbacks into a relationship, including various assets and debts. Prenups tend to focus on financial assets, but they can include personal requests like an infidelity clause which bars a spouse’s right to certain financial benefits in the event of infidelity.

Prenups cannot include issues regarding child custody or child support. However, a prenup can include many different financial requests or demands that don’t involve children, such as:

• Division of Assets: One of the most common elements to include in a standard prenuptial agreement is the division of assets. In a divorce, it is important to have a plan for asset division, particularly when one partner is wealthy and has a significant amount of assets they brought into the marriage. It is important to develop a plan for significant assets like real estate, personal property, and even bank accounts and retirement accounts. Knowing how property is typically divided in a divorce can help you create a stronger prenuptial agreement that protects your assets and avoids future disputes.
• Spousal Support: Including a plan for spousal support, also known as alimony, is a common element in a prenuptial agreement. You can include who, in a divorce, would receive alimony, as well as how much and for how long. You can even include certain clauses that would prevent a spouse from getting alimony. For example, if your spouse was unfaithful, they may receive nothing if you wish. You may also choose to include a provision whereby both parties waive their right to alimony.
• Personal Requests: A prenuptial agreement is your opportunity to draft certain personal requests and expectations for your marriage, including things you will not tolerate and could lead to an immediate divorce, such as infidelity.

FAQs About Prenuptial Agreements in Waxhaw,NC

Do You Need a Lawyer for a Prenup in North Carolina?

While not required, it is highly recommended that you retain the service of an experienced prenuptial agreement lawyer to assist you in drafting your prenup. An experienced lawyer can ensure that your agreement is drafted accurately in accordance with North Carolina state law. A prenup drafted with a lawyer’s assistance is going to be much more likely to hold up in a court of law should issues arise in the future.

How Much Does a Prenuptial Agreement Cost in North Carolina?

The amount you could pay to draft a prenuptial agreement in North Carolina will be dependent on a number of significant details, including the hourly rate of your family attorney, the number of assets that need to be covered in the prenup, and whether or not you decide to consult with a financial planner as well. It all depends on what you want to include.

What Is the Seven-Day Rule for Prenups?

The seven-day rule for prenups applies to some states that require at least seven calendar days between the day you present a prenuptial agreement to the party intended to sign and the day that they need to sign it. This rule assures that both parties have ample time to look over the agreement and consider the terms. North Carolina does not have the seven-day rule. Still, you should give your significant other enough time to look over the prenup.

What Invalidates a Prenuptial Agreement in North Carolina?

There are multiple situations that would invalidate a prenuptial agreement in North Carolina. A prenup is not considered valid in North Carolina if it was signed under duress, if the agreement is extremely unfair to one party, or if one party did not fully disclose their assets and liabilities. If a prenup meets any of these situations, it may be considered null and void going forward.

Reach Out to a Prenuptial Agreement Lawyer Today

If you are considering marriage but have a significant amount of wealth you are concerned about, you should seriously consider drafting a prenuptial agreement. There’s nothing wrong with seeking to protect yourself as long as you go about it the right way. An experienced family lawyer can help you draft the right agreement that works for your situation.

The legal team at Lehnhardt Price Family Law can help you figure out the right way to protect your assets and move forward with your marriage. If you have any questions about what we can offer, reach out to speak with a member of our legal team about your case.