There are still a great deal of hesitation and trepidation among couples to either address or to commit to completing a prenuptial agreement prior to marriage. It is imperative to deconstruct and define marriage as a legal but also a significant financial contract where parties agree to essentially commingle funds and assets during the marriage. All assets after marriage are presumed to be marital property unless exclusively and concisely excluded via an enforceable prenuptial agreement.
It matters not if there was a verbal agreement as to who owns what or what belong to who. The only enforceable mechanism to protect sole and separate assets, inheritance, retirement accounts, real estate, and investment accounts to name a few is by diligently drafting and executing a comprehensive and forward-thinking prenuptial agreement. An important component of the agreement is the financial disclosure which will be incorporated in the agreement essentially disclosing what is sole and separate property and excluded from marriage as well as listing all assets to either be converted or commingled during the marriage.
Realistically one must perceive marriage in part as a financial transaction and in that full disclosure, and discussion of all assets prior to marriage and in writing can only work to fortify the marriage and eliminate any and all tensions caused by financial issues late on and allow couples to focus on all the non-financial aspects of marriage.
Refer to our Washington DC Prenuptial Agreement Lawyer page for more details on this subject,
Also review below some of the FAQ:
Is a prenuptial agreement necessary as have limited assets?
Yes, because as marriage progresses and advances disposition of assets will change and it important to have protection in place early on.
Can I just deal with the prenuptial agreement after the marriage — postnuptial agreement?
Yes, but not recommended as incentive to negotiate may no longer be present and also conflict and discord may arise while negotiating the agreement post marriage.
Does everything — all my earnings after marriage become part of marital property?
Yes and no, depends on first the drafted exclusions and exceptions in the prenuptial agreement, and secondly, based on how assets are treated after the marriage among parties.
Can the inheritance be excluded under the premarital agreement?
In most cases — YES — there are exception though.
How about retirement accounts?
Yes as well, however if the retirement accounts are commingled or funds from accounts used for marital purposes then there may be claims against such accounts.
What about my business developed and established before marriage?
As long the exclusionay language is detailed, enforceable and reasonable. However, if after marriage there are meaningful contributions to the business entity by the spouse giving rise to business growth and earning potential then there may be claims against the business by the contributing spouse.
Can alimony be limited and negotiated through a prenuptial agreement?
Yes — but if unreasonable and overly protective then it may be challenged.
Can child support be negotiated in a prenuptial agreement?
Absolutely not.
Can real estate already owned and purchased be excluded under the prenuptial agreement?
Yes but again if there is marital use of the property in question, and contributions to mortgage, repairs and expenses — then property may be open to claims.
Would a prenuptial agreement be enforceable if there is no financial disclosure along with the agreement?
Substantially less enforceable as the full and complete financial disclosure is a prerequisite to providing both notice and information needed to negotiate in good faith an agreement that basically at its core deals with finances and assets.
Can the agreement be drafted by my lawyer and presented to my spouse with no other input from the opposing counsel?
Yes however less likely to be enforceable and the conscionability clause requires that both parties are well informed and advised by separate counsel.
Can the agreement be drafted and forwarded day or hours before marriage?
Yes, but if the other side does not have sufficient time to review, retain counsel and reflect — all weigh on the enforceability of the agreement and the equity and fairness of the process.