Prenuptial agreements are legally enforceable contracts determining how a couple will split their assets and debts during a divorce or separation. Prenups can also address asset protection, retirement accounts, blended families, business ownership, inheritance, and many other issues. A well-crafted prenuptial agreement by an experienced Alaska prenuptial agreement attorney can help couples avoid disputes and costly litigated divorce proceedings if they decide to end their marriage.
Tips for Crafting a Fair and Enforceable Prenuptial Agreement in Alaska
Entering into a prenuptial agreement should be treated with the same respect and thought as entering a marriage. The primary concern should be your best interests. Therefore, you need to ensure the agreement is fair. Six things to remember when you retain an attorney to write a prenuptial agreement in Alaska are:
Separate Legal Representation
Each person should have an attorney representing them during the prenuptial negotiations. Having separate lawyers ensures each party receives legal advice regarding their best interests. It helps provide for a fair agreement. It also improves the enforceability of a prenuptial agreement if one party tries to dispute the terms later.
All assets and liabilities must be fully disclosed for a prenuptial agreement to be fair and enforceable. Each party must thoroughly understand the other party’s finances before they enter into an agreement. Otherwise, a party cannot make an informed decision, which could give them grounds for asking the court to void the prenuptial agreement.
The parties to a prenuptial agreement must voluntarily enter the agreement. If any coercion or fraud is used to secure a party’s agreement, the prenup could be unenforceable.
Timing of the Prenuptial Agreement
Both parties should have sufficient time to review the terms of the agreement and discuss the legal aspects of the agreement with their lawyers. It could be more challenging to enforce a prenup signed after a very short discussion right before the wedding.
Fair prenups are prospective. They consider what circumstances might be in the future. Terms that are fair now might not be fair under other circumstances. Therefore, some prenups include provisions that allow couples to renegotiate terms in the future or change terms if specific events or circumstances occur – For example, an agreement might address how its terms might be changed if the parties have children.
Prenuptial agreements, which do not meet one or more of the requirements listed above are subject to attack if the marriage ends with a divorce or death of one of the parties. Therefore, working with an experienced Alaska family law attorney is crucial to create your prenuptial agreement. An attorney ensures the agreement complies with Alaska laws for enforceable contracts.
Schedule a Consultation With Ms. Roston
Developing a prenuptial agreement does not need to be stressful. With the help of an experienced Alaska prenuptial agreement lawyer, you can craft a fair and enforceable prenuptial agreement through open and honest communication with your partner. Contact our law office today to schedule an initial consultation if you and your spouse-to-be have discussed entering into a prenuptial agreement before you marry.
Posted in: Divorce