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Getting married is a significant milestone in anyone’s life, a time when two people make the ultimate commitment to love and care for each other. While planning a wedding can be exciting, there's a not-so-romantic aspect that couples may also need to consider: prenuptial agreements. These are legal documents that lay out the rules for how the couple's property and finances will be handled if their marriage ends in divorce or death. Here in Alabama, there are three primary issues that couples typically address in their prenuptial agreements: premarital property, likely future acquisitions, and rules for marital property. In this guide, we’ll explore each of these issues further, as well as discuss how an attorney can help you create a prenuptial agreement that protects your interests while maintaining a strong, healthy relationship.
Your premarital property is anything you own before marriage. It could include investments, real estate, personal property, and even your small business. Your prenuptial agreement should specify that you keep all your premarital properties, so you don’t lose them in the event of a divorce. To ensure the most comprehensive coverage, provide a complete list of all your premarital property and include dates of acquisition or purchase.
Just as prenups should cover your premarital property, they should also cover anticipated acquisitions. If there is a potential for inheritance, trust distributions, promotions, or significant investments, include them specifically in the prenup. A prenup can help define these assets as separate property and protect them in the event of a later divorce or death.
Marital property are assets acquired and accumulated during the marriage, including income. In a prenuptial agreement, you and your partner will need to discuss how you want to handle and divide marital property, including who gets what if you choose to end your marriage. Keep in mind that in creating a prenup, it still gives both parties room to make changes to their agreement; prenups can be modified by writing mutual agreements.
Though you can download prenup templates online, it's better to have a lawyer's assistance when creating your prenup. Lawyers can identify areas you may have overlooked in-property division or legal procedures. It is always recommended to seek an independent legal counsel to ensure that the agreement is not being drafted with emotional, rather than objective, thinking. A specialized family law attorney can also help make sure that you and your partner consider all possibilities and include everything needed in your prenup.
Prenuptial agreements can be complicated and emotionally challenging, but they can provide peace of mind in times of change. Work with your partner to ensure that the expressed terms are favorable to both parties to protect your respective interests, while taking the effort to prioritize your relationship. As an Alabama resident, it is wise to consult a family lawyer experienced in prenuptial agreements to guarantee compliance with state laws and cover all appropriate bases. By addressing premarital property, potential acquisitions, and rules for marital property, and working with a lawyer, you and your partner can create a clear and fair prenuptial agreement that strengthens your relationship rather than causes stress.
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Phone: 251-551-7901
Email: msm@mcnairlawyer.com
2151 Government St
Mobile, AL 36606
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