You may be familiar with the basic premise behind prenuptial agreements, but have you ever heard of an antenuptial agreement? This isn’t some new fad in family law and divorce. Rather, an antenuptial agreement is just another way to say “prenup.” The terms are equally interchangeable. If you are considering a prenup, here are a few things you should know about these agreements to determine whether you need one before your upcoming wedding.
Antenuptial and Prenuptial Agreements
As the National Paralegal College notes, a premarital legal agreement between a couple may be called either an antenuptial or a prenuptial agreement. The names are equivalent.
The terms of the agreement can vary according to the wishes of the couple, but premarital agreements often cover wealth distribution, property distribution, and financial support if one spouses dies or if the couple separates or divorces. Some even include “lifestyle clauses.”
How Prenups Work
Spouses typically enter into prenuptial agreements to settle alimony and estate issues before the wedding occurs. If you and your intended have different backgrounds, one of you may wish to have a legal agreement executed before the marriage to protects his or her assets.
Let’s say you own a condominium and you plan to buy a house with your spouse. You may decide the condominium is yours alone, and your spouse is not entitled to proceeds related to the condominium sale in the event of a separation.
Some Phoenix couples use a prenup up determine spousal alimony or to limit the right to financial support in the event of infidelity.
Our attorneys can discuss prenuptial clauses that protect your assets and your independence. These days, prenuptial agreements are a common and forward-thinking way for couples to protect their interests in the event divorce becomes necessary.
Any antenuptial agreement must be fair and enforceable both in the present and in the future. If an agreement is seen as unfair to one party, a Phoenix court could declare the prenup unenforceable, laying the grounds for an ugly divorce fight.
At May, Potenza, Baran, and Gillespie, we have created prenuptial agreements for many couples. We can help you craft a prenuptial agreement that protects everyone’s assets and provides lasting of mind. To learn more about our services, we invite you to give us a call.
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