November 07, 2012 (Press-News.org) A prenuptial agreement, also known as a premarital agreement, is a legally binding contract that dictates how a couple's assets will be distributed if their marriage ends in divorce or upon death while married. Many people believe that this legal device is only for the rich. While prenuptial agreements are useful in cases where one spouse has significant assets or property, these days, they are quite common for people with varied financial backgrounds.
Specifically, 73 percent of divorce attorneys surveyed in 2010 by the American Academy of Matrimonial Lawyers reported seeing a significant rise in prenuptial agreements. Furthermore, 51 percent of divorce lawyers surveyed in 2012 said they have seen an increase in postnuptial agreements. A postnuptial agreement is a contract between spouses that also protects individual assets in the event of divorce or death. Unlike a premarital agreement, a postnuptial agreement is entered into after the couple marries.
The Importance of Prenuptial Agreements
Why get a prenuptial agreement? There are a few reasons why you may want to consider this legal option. First, if you are wealthier than your partner, a premarital contract can limit, in whole or part, your spouse's right to your premarital assets. Furthermore, if your marriage does not work out, a prenuptial agreement can be used to limit the amount of alimony available to your spouse. Also, if you plan to marry someone with significant debt, a prenuptial agreement can help guarantee that you are not financially responsible for your partner's responsibilities if the marriage ends.
Furthermore, if you have been previously married, your legal and financial ramifications may be different in your new commitment. For instance, if you have children from a previous relationship, a premarital contract can make sure that your assets are distributed according to your wishes. In other words, if you have specific allocation preferences for your old and new family, you can help protect them through a prenuptial contract.
Also, if you own a business, you should know that your future spouse could be awarded an interest in your company if your marriage ends. A prenuptial agreement can ensure that your spouse does not become an unwanted partner in your business.
These are just a few issues to consider before you tie the knot. If you do not get one, you will be subject to property division laws of your state. If you are considering creating a premarital or postnuptial contract, it may help to retain a knowledgeable family law attorney. A lawyer can help you evaluate your current situation and draft an agreement.
Article provided by Dougherty, Molenda, Solfest, Hills & Bauer, P.A.
Visit us at www.dmshb.com
Prenuptial Agreements: Not Only for the Rich
Research shows that more and more people are creating prenuptial agreements before marriage. The legal device can help protect you in many ways in the event that your relationship does not last.
2012-11-07
ELSE PRESS RELEASES FROM THIS DATE:
Minnesota Hospital Exposed for Harsh Debt Collection Practices
2012-11-07
For many people, the most difficult aspect of financial hardship is enduring creditor harassment and facing wage garnishment and other harsh consequences of debt collection. While debtors have rights under the Fair Debt Collection Practices Act (FDCPA) and other laws, debt collectors often abuse those rights by making unauthorized contact or false representations in an attempt to speed up the process.
A high profile example of potentially illegal practices recently made headlines in Minnesota when Fairview Health Services was accused of employing harsh tactics to collect ...
New Jersey Assembly Seeks to Up Penalties for Drunk Driving Parents
2012-11-07
Drunk driving is a serious crime in New Jersey. Getting behind the wheel after having one drink too many can bring heavy fines, jail time and months -- or even years -- of suspended driving privileges.
The penalties for New Jersey drunk driving offenses may get even stricter soon, if a new bill introduced in the state Assembly moves forward. The bill, which was approved by the Assembly Law and Public Safety committee in late September, seeks to impose new penalties for drunk driving parents or guardians who cause accidents that injure their minor children.
If the ...
Will Police Need Warrants Before Taking Forcible Blood Tests?
2012-11-07
The United States Supreme Court recently announced it will decide whether the Fourth Amendment allows law enforcement officials to force non-consenting suspects in impaired driving cases to take a blood test without first requesting a warrant.
The Fourth Amendment of the United States Constitution protects Americans from unlawful searches and seizures. This means that law enforcement cannot search you, your home, or your vehicle, without permission unless they have acquired a probable cause warrant.
Different states, different decisions
States across the nation ...
A Guide to Purchasing Private Disability Insurance Coverage
2012-11-07
Though some workplaces offer disability insurance to their employees, these benefits have gotten a lot less common -- and a lot less robust -- in the economic downturn. In 2002, 59 percent of American companies paid all or part of their employees' long-term disability insurance premiums. By 2009, that number had fallen to 48 percent. As such, many Americans have turned to private disability insurance to supplement or replace employer-sponsored policies.
Private disability insurance can be a tremendous asset if an unexpected illness or disability strikes. However, coverage ...
Atlanta Pest Control Company Team Pest USA Celebrates Its New Website
2012-11-07
Team Pest USA has upgraded its website with the customer in mind, offering more information about the most important types of pest control in Atlanta, Georgia. With the right tools to handle everything from termites to bed bugs or squirrels and opossums, these Atlanta exterminators know their business.
One of the key advantages of the new website is the information that it makes available on everything from Atlanta mosquito control to helping prevent pest problems that begin with your pet. To learn how to spot termite damage before it destroys your house, how to keep ...
McCart Insurance Discusses Exceptions to Coverage Under Parents' Georgia Health Insurance
2012-11-07
Georgia health insurance broker McCart Insurance understands that there are times when using your parents' health insurance can be difficult or embarrassing. For those times, students may wish to consider finding their own affordable health insurance in Georgia.
The most common time for students to encounter problems with health insurance in Georgia is when their parents are based in another state. Some insurance companies may not have the preferred providers they require in your college community or some may require students pay for out-of-state visits themselves and ...
Yellow Ribbon Tree Experts Offers Complete Tree Services in Marietta
2012-11-07
Atlanta tree removal company Yellow Ribbon Tree Experts reminds Marietta residents that the company's service area extends to cover the Marietta area. For tree inspections, injections, trimming, or tree removal in Marietta, Yellow Ribbon can help. A leading Marietta tree service company, Yellow Ribbon Tree Experts is licensed by the International Society of Arboriculture.
Yellow Ribbon Tree Experts can quickly and safely remove any dead or dying tree, grinding the stump afterwards to leave no unsightly mess on your property. The experts at Yellow Ribbon know that dead ...
Craftmark Solid Surfaces Discusses Fall Home Trends, Including Adding Atlanta Granite Countertops
2012-11-07
Craftmark Solid Surfaces understands that as the weather turns chilly, many of us head indoors. That's when we look around and see that it's time to focus our attention on decorating for fall and winter and making upgrades before holiday guests are knocking at the door.
Adding a door wreath of autumn leaves and a pine cone centerpiece on the table can help make your home feel warmer and more inviting for fall, but now is also the time to think about the upgrades you need to make your holiday parties sparkle. Replacing a worn out kitchen counter with a granite kitchen ...
The Passing of Initiative 502 in Washington State - A Criminal Defense Lawyer's Perspective
2012-11-07
After the ballots are counted and the anticipated Initiative 502 goes into effect December 6th, the criminal justice system will be left to make sense of the law and its complexities. Criminal defense lawyer Steve Graham has written about the law and what it might mean for Washington voters.
As with Washington's earlier voter initiative for medical marijuana in 1998, I-502 will leave many questions for the courts to interpret. Lawyers across the state will await the federal government's response to the decriminalization of what the U.S. government still outlaws.
Drivers ...
Millennium & Copthorne Hotels Welcome Visitors to the Capital to Celebrate the Festive Season!
2012-11-07
Throughout the Christmas season, Hyde Park will again transform into the festive hotspot, Winter Wonderland. Last year it welcomed over 2 million visitors during its seven week run. Millennium & Copthorne Hotels have hotels near Hyde Park London all conveniently located in central locations, with easy access to Hyde Park and other festive attractions.
This year, Winter Wonderland is set to be bigger and better than ever, with attractions including the UK's largest ice rink and Zippos Circus, featuring jugglers, clowns and aerialists. Thrill seekers should visit ...
LAST 30 PRESS RELEASES:
Preventing dangerous short circuits in lithium batteries
Successful bone regeneration using stem cells derived from fatty tissue
ELSI to host first PCST Symposium in Japan, advancing science communication across Asia
Researchers improve marine aerosol remote sensing accuracy using multiangular polarimetry
Alzheimer’s Disease can hijack communication between brain and fat tissue, potentially worsening cardiovascular and metabolic health
New memristor wafer integration technology from DGIST paves the way for brain-like AI chips
Bioinspired dual-phase nanopesticide enables smart controlled release
Scientists reveal it is possible to beam up quantum signals
Asymmetric stress engineering of dense dislocations in brittle superconductors for strong vortex pinning
Shared synaptic mechanism for Alzheimer's and Parkinson’s disease unlocks new treatment possibilities
Plasma strategy boosts antibacterial efficacy of silica-based materials
High‑performance wide‑temperature zinc‑ion batteries with K+/C3N4 co‑intercalated ammonium vanadate cathodes
Prioritized Na+ adsorption‑driven cationic electrostatic repulsion enables highly reversible zinc anodes at low temperatures
Engineered membraneless organelles boost bioproduction in corynebacterium glutamicum
Study finds moral costs in over-pricing for essentials
Australian scientists uncover secrets of yellow fever
Researchers develop high-performance biochar for efficient carbon dioxide capture
Biodegradable cesium nanosalts activate anti-tumor immunity via inducing pyroptosis and intervening in metabolism
Can bamboo help solve the plastic pollution crisis?
Voting behaviour in elections strongly linked to future risk of death
Significant variations in survival times of early onset dementia by clinical subtype
Research finds higher rare risk of heart complications in children after COVID-19 infection than after vaccination
Oxford researchers develop ‘brain-free’ robots that move in sync, powered entirely by air
The science behind people who never forget a face
Study paints detailed picture of forest canopy damage caused by ‘heat dome’
New effort launched to support earlier diagnosis, treatment of aortic stenosis
Registration and Abstract Submission Open for “20 Years of iPSC Discovery: A Celebration and Vision for the Future,” 20-22 October 2026, Kyoto, Japan
Half-billion-year-old parasite still threatens shellfish
Engineering a clearer view of bone healing
Detecting heart issues in breast cancer survivors
[Press-News.org] Prenuptial Agreements: Not Only for the RichResearch shows that more and more people are creating prenuptial agreements before marriage. The legal device can help protect you in many ways in the event that your relationship does not last.