Prenuptial Agreement Schedule of Assets

Couples trying to sign a prenuptial agreement should provide their attorney with full financial disclosure of their assets, including: The divorce rate in the U.S. remains around 50%. In 1 in 2 marriages, you are likely to divorce in your future. In this blog, we answer some of the questions you may want to get a prenup before marriage. Does a prenup protect future assets? Can a prenup protect future income? If you fall into one of these categories, you`ll want to know what a prenup protects: Many people wonder if a prenup can protect future assets and returns. A marriage contract is a very good way to protect prenuptial property in the event of divorce. A prenup can set conditions on how you divide your assets and debts and whether alimony is paid, and if so, how long and how it could be calculated at the end of your marriage. A prenuptial agreement may limit what lawyers must address in divorce, which would then only involve a division of property acquired during the marriage. In many ways, a prenuptial agreement solves many, if not all, divorce problems.

As a general rule, the only unresolved issues are those relating to children born or adopted during marriage. Problems related to children can NOT be included in a prenup. This can help keep divorce costs low and eliminate much of the stress associated with the financial aspects of a divorce. Some couples may choose to separate prenuptial characteristics during a divorce. Both spouses will still own the assets and debts they had when they married. Others may choose to mix prenuptial property with matrimonial property during marriage. It`s up to you and your spouse to discuss your options and agree on whether to keep these traits separate. Each option has advantages and disadvantages.

Next, think about how you and your spouse will treat the assets and debts you`ve accumulated together over the course of your married life. You and your spouse can choose to divide the matrimonial property directly in the middle, 50/50, or make another arrangement. It can be difficult to keep track of who bought or owned what during a marriage, so agreeing on a percentage of total marital assets may be the simplest solution. You and your spouse should also consider money management when drafting a prenuptial agreement. You can have different methods for banking, saving and spending. Both partners need to work together to plan for your financial future. Discuss things like retirement accounts, 401(k)s, stocks and bonds, vacations, luxury vehicles, and other expenses to see where you both stand. You need to discuss these things openly to balance different styles of money management and create a plan for what you`re going to spend and/or save.

When planning a prenuptial agreement, it is imperative that you and your future spouse disclose all of your financial assets and property at the time of marriage. Prenups are designed to help protect personal property and finances and ensure that property is divided fairly in the event of divorce. If a partner does not disclose certain prenuptial property, it could set off red flags for the divorce judge and potentially cost you more during the divorce proceedings. Once you`ve made the decision to create a prenuptial agreement, setting it up is easier than you think. Contact us today to make an appointment and we will guide you through the process. With specialized and neat representation, not only will you have the peace of mind that your deal is secure, but you`ll also have the support and guidance you need to make sure your prenup is what you and your fiancé want. Prenuptial property is defined as any property you acquired before your marriage. These types of assets can include savings, stock options, personal property (car, house, jewelry, etc.), and promised assets (inheritances, retirement, etc.). In addition to financial securities, liabilities must also be disclosed in assets prior to marriage (although a liability is generally not considered an asset).

To ensure that all assets are disclosed, the American Bar Association strongly recommends that you and your partner compile comprehensive lists of all your personal assets, assets, and liabilities. When creating your lists, it`s important to ask yourself what you both think about certain financial matters. This will not only reaffirm the need for a prenup, but will also help clarify future financial dependencies. Marriage contracts are only enforceable if they meet a number of conditions. For example, these contracts are not performed if a court finds that one of the parties did not voluntarily perform the contract, that the contract was the product of fraud or coercion, or that the terms of the agreement were unscrupulous because one party: Prenuptial agreements have become increasingly popular over the past decade as one of the best ways to protect a person`s property in the event of divorce. While a prenuptial agreement may be the last thing a newly engaged person thinks about, those thinking about how to approach their finances by entering into a prenuptial agreement should talk to a marriage and postmarital contract attorney in Fort Lauderdale about the types of documents that will make the process of entering into this type of contract as smooth as possible. A marriage contract is also used to define what constitutes matrimonial property. In general, matrimonial property is all property acquired in the name of one of the two persons between the date of marriage and the date on which a spouse files for divorce. This property may include real estate, bank accounts, investments, etc. However, it is possible to use a marriage contract to provide that if the property acquired during the marriage can be traced back to the separate property of one of the parties, the matrimonial property in question will be divided in proportion to the contribution of each party in the event of the dissolution of the marriage. This is very different from what would happen if there were a divorce without a marriage contract, because in this case, the property would most likely be divided equally, regardless of the contribution of each party to the acquisition of the property. A prenup protects your spouse`s property if you divorce.

Finally, make sure that you and your spouse sign the final version of the marriage contract in front of a notary. If you do not sign the document or do so officially in front of a notary, the document may become invalid. Ask a marriage contract attorney in Austin to create the document to make sure it`s legal and valid. Listing the assets and liabilities before each party`s marriage is a prerequisite for creating a prenup. These are all the bank accounts, income sources, houses, cars, inheritances, stocks, bonds, savings accounts and other assets that each party has in the marriage. The list should also include debt: credit card debt, car loan payments, student loans, etc. Both spouses must be in advance and honest about their assets and debts before marriage. It is then up to you to decide how to proceed with the assets and debts before marriage in the event of a divorce. Even those who enter into their prenuptial agreements with the belief that they are doing so honestly and fairly could end up with a revoked agreement if they do not provide accurate documentation of their debts and assets at the time of writing. Your prenuptial checklist should include a third party who can help you and your spouse solve problems. The third party must be an impartial mediator, advisor or religious advisor to help you make decisions. The involvement of a third party can keep things right and civilized.

It can also protect your rights and prevent you from making a big mistake, . B like signing your rights to the assets because you don`t think you`ll ever get a divorce. A third party can be a smart way to facilitate a smart discussion about marriage. Finally, couples should make sure to provide their lawyers with copies of records related to their debts and liabilities, including mortgage bills, proof of car loans, credit card bills, medical bills, and tax bills. It is important to note that although the information contained in these documents is consulted by both parties and their lawyers and financial advisors, the documents themselves are not attached to the marriage contract, thus preserving the privacy of the parties to some extent. If you`d like to learn more about the types of documents you`ll need to make a full financial disclosure when entering into a prenuptial agreement, contact Sandra Bonfiglio, PA, attorney for marriage and post-marriage contracts in Fort Lauderdale. A member of our dedicated legal team can be reached at our office by phone at 954-945-7591 or by completing one of our online admission forms. Marriage contracts are often used to define separate property, so that all property that was before the marriage remains the separate property of that person when they divorce. Parties to a prenuptial agreement are required to fully disclose their assets and liabilities in connection with a transaction to be attached to the agreement […].