Prenuptial And Postnuptial Agreements On The Rise

Prenuptial and postnuptial agreements can offer clarity over who owns what assets and who is responsible for debts.

2012-12-06

December 06, 2012 (Press-News.org) Prenuptial and postnuptial agreements on the rise

To love, honor, and keep all property separate? With divorce rates continuing to hover around 50 percent throughout the country, more and more couples are using contracts to outline what assets belong to which spouse.

Some are using agreements set up prior to the wedding, called a prenuptial agreement, while others are outlining the terms after the wedding, called a postnuptial agreement. These contracts can help ease financial stress between couples by clearly outlining how assets will be split if the marriage fails.

Although this may seem like a depressing topic for a happy couple to discuss, it may help reduce financial arguments in the future. Since more and more couples are waiting longer to get married, more individuals own homes or have established retirement plans prior to walking down the aisle. Others may have been married before and want to ensure children from a previous marriage receive certain assets. As a result, prenuptial and postnuptial agreements make sense for many couples.

Prenuptial versus postnuptial agreements

A prenuptial agreement can guide the division of property and spousal support or alimony payments in the event of a future divorce. The financial aspects of a prenuptial agreement are often enforced in court as long as the agreement is made in writing and with full disclosure. Portions of the agreement referring to child custody, however, may not be enforceable.

Not all couples sign a prenuptial agreement prior to the wedding. However, as a couple's financial situation changes they may choose to sign an agreement offering similar protections after the wedding. This contract is called a postnuptial agreement.

The discussion to develop a postnuptial agreement may be fueled by discord within the marriage or by a desire to provide a sense of security. Whatever the motivation, this agreement can help take any disagreements around who owns what assets or who is responsible for any outstanding debts out of the equation so a couple can focus on other areas of the relationship.

Similar to a prenuptial agreement, it is important for each spouse to fully disclose all assets and debts prior to developing a postnuptial agreement. The court will likely not enforce the contract if any of these finances are hidden when the terms of the postnuptial agreement are outlined.

Setting up these contracts can be difficult and there are many rules that have to be followed. If you are considering a prenuptial or postnuptial agreement, discuss your situation with an experienced prenuptial agreement attorney to better ensure your legal rights are protected.

Article provided by Law Offices of Jonathan W. Fein
Visit us at http://www.feinlaw.com

ELSE PRESS RELEASES FROM THIS DATE:

Divorce And Insurance: Knowing How It Is Split Can Help Save Headaches

2012-12-06

Divorce and insurance: knowing how it is split can help save headaches Divorce is difficult for every couple. Couples must come to terms with the fact that a romantic relationship is ending while also dealing with how assets will be split. In addition to balancing these issues, couples should also keep in mind that their insurance will likely be impacted by the divorce. First and foremost, it is important to know that once a Petitioner for Marital Dissolution (a divorce) is filed in California, the party who filed it (the Petitioner) may not cancel or change the beneficiaries ...

Texas Lawmakers Try Again To Ban Texting While Driving

2012-12-06

Texas lawmakers try again to ban texting while driving If some Texas lawmakers have their way, texting while driving will soon become illegal in Texas. Former Texas House Speaker Tom Craddick recently filed legislation that would do just that. Texas lawmakers passed a similar ban on texting two years ago. However, Gov. Rick Perry vetoed the bill. Perry said that texting while driving "is reckless and irresponsible" but that he saw the bill as "a government effort to micromanage the behavior of adults." The proposed law is named in honor of Alex Brown ...

Common Mistakes Parents Make With Children After Divorce

2012-12-06

Common Mistakes Parents Make With Children After Divorce Divorce can be an emotional and difficult procedure, especially when children are involved. Unfortunately, because of this, and because people may not know what to look out for, sometimes mistakes are made along the way. Learning what mistakes parents often make after their divorce and child custody cases can help them recognize and avoid those mistakes and work toward the best possible outcome for their family. The Insight of Teachers Teachers are in a unique position to observe the effects of a divorce ...

Legal Obstacles for Indiana's Temporary Employees

2012-12-06

Legal obstacles for Indiana's temporary employees As the economy continues its slow recovery from the Great Recession, employers in Indiana and around the nation are relying more heavily than usual on temporary workers. While business is gradually improving for many employers, some are not yet willing to commit to taking on new fulltime employees, choosing to rely on contractors and temps instead. With the 2012 winter holidays fast approaching, Indiana's temporary and seasonal workforce is likely to grow even larger to accommodate the annual retail boom. And, in some ...

Health Insurance and Social Security After a Massachusetts Divorce

2012-12-06

Health Insurance and Social Security After a Massachusetts Divorce Divorce can bring a myriad of changes to a person's life. People trying to adjust to their new lives as singles may not realize all of the details to which they will have to attend as a result of divorce. For instance, they may not consider the impact that divorcecan have on health insurance eligibility and Social Security benefits. Health Insurance Options Massachusetts law requires insurance companies to allow ex-spouses to remain on employer-sponsored health insurance plans after divorce. If ...

Teens Most Vulnerable to Concussion, Study Finds

2012-12-06

Teens Most Vulnerable to Concussion, Study Finds People of all ages can suffer lasting consequences after concussions, but a recent study found that teenagers are more likely than other age groups to experience cognitive problems after head injuries. In a study that tested the thinking ability of 96 people an average of six months after sustaining a concussion, researchers at the University of Montreal found that teenagers suffered more cognitive impairment after concussions than both children and adults, who displayed similar deficits. The results were surprising ...

Judges Under Pressure To Eliminate Disability Claim Backlog

2012-12-06

Judges under pressure to eliminate disability claim backlog Contrary to popular opinion that the Social Security Administration has been struggling with an extraordinarily high caseload in recent years due to high unemployment numbers, the rise in applications is actually due to the fact that there are a growing number of baby boomers reaching their disability prone years and that more women have been working outside the home. The recent influx of applications has created a backlog of roughly 2 million applications, resulting in extremely long wait times for many ...

Despite Regulations, Many Surgeons Still Struggle With Fatigue

2012-12-06

Despite regulations, many surgeons still struggle with fatigue In an effort to reduce fatigue-related medical errors among notoriously overworked surgical residents, the Accreditation Council for Graduate Medical Education implemented new policies in 2003 that limit residents' on-duty hours. Surgical residents are now limited to 80 on-duty hours per week and must have a minimum break of 10 hours between shifts. However, recent studies on the effectiveness of these measures suggest that the issue is far from resolved. Researchers who studied the effects of fatigue ...

Houston Ripe For Startup Entrepreneurs

2012-12-06

Houston ripe for startup entrepreneurs In early November 2012, Houston was home to another Startup Weekend that draws aspiring entrepreneurs from a variety of professional backgrounds to brainstorm ideas for new business startups, mainly technologically oriented. Sponsored by the Seattle nonprofit of the same name, the weekend is an intense workshop wherein the best startup ideas as voted on by the attendees are developed by small groups into potentially viable business models. Local business leaders attend group presentations and provide valuable feedback, and a ...

United States Supreme Court to Hear Two Drug-Sniffing Dog Cases

2012-12-06

United States Supreme Court to Hear Two Drug-Sniffing Dog Cases US Supreme Court to Hear 2 Drug-Sniffing Dog Cases During this term, the U.S. Supreme Court has agreed to hear two cases involving evidence discovered by drug-sniffing dogs. In both cases, the Florida Supreme Court ordered the evidence be suppressed. The Supreme Court will determine whether the evidence in these two instances was gathered in violation of the Fourth Amendment. The Fourth Amendment of the U.S. Constitution provides for, "The right of the people to be secure in their persons, houses, ...

Prenuptial And Postnuptial Agreements On The Rise

ELSE PRESS RELEASES FROM THIS DATE:

LAST 30 PRESS RELEASES: