Prior to saying “I do,” many modern couples are now signing prenuptial agreements. This is because couples are now realizing that a prenuptial agreement can help them avoid confrontation in the future. For Alabama couples who are heading toward the altar, a prenuptial agreement deserves serious consideration.
Prenuptial agreements can be beneficial for many different reasons. One of those reasons is an inheritance. Having a prenuptial agreement in place is often reassuring to generous family members, such as grandparents, who may be concerned about the prospect of their assets being handed to an in-law in the event of a divorce.
In addition, prenuptial agreements can help to soften the blow that a divorce could potentially deliver, since assets can increase and decrease throughout a marriage. This is especially true as financial success, incomes and bankruptcy are often completely unpredictable. For this reason, it is wide to avoid dollar-amount promises, instead one could make promises based on percentages.
It is recommended that couples work with family law professionals on these matters to make sure contracts are enforceable. These professionals are aware of public policy issues that constantly change. For example, some states allow agreements to cover spousal support and property division, but do not allow agreements to cover visitation rights and child custody.
Wealth is not a prerequisite for a prenuptial agreement in Alabama. These agreements can help couples avoid contentious courtroom litigation concerning assets, regardless of their value. Prenuptial agreements also have additional benefits that include estate and financial planning. Couples who decide to sign a prenuptial agreement would be wise to each have his or her own legal support to ensure that the interests of both parties are considered.
Source: The Huffington Post, “Prenuptial Agreements for Peace of Mind and Post-Coital Bliss“, Tara Fass, Dec. 15, 2014