A prenuptial agreement is not necessarily a sign of a couple's intent to ultimately divorce. Rather, prenuptial agreements are important safeguards for certain economical concerns when one spouse owns a business or is wealthier than the other. By working with an experienced divorce attorney, a couple can ensure that all significant issues relating to their marriage are addressed beforehand and prevent future issues.
How Prenuptial Agreements Work in Kentucky
What Is in a Prenuptial Agreement?
A prenuptial agreement is also known as a premarital agreement. The content of a prenuptial can vary by couple, but many premarital agreements typically cover property rights and other important financial considerations, such as a spouse’s personal debt liability and savings contributions. It may also stipulate mediation or arbitration as an alternative to litigation for future disputes. However, a premarital agreement cannot involve waivers of alimony rights, details about non-financial issues, or anything that encourages divorce.
Why Should Couples Get a Prenuptial Agreement?
Prenuptial agreements are not limited to the wealthy. Any couple that has concerns about businesses or other assets one spouse owns will want to ensure all of those fears are addressed before the marriage. Resolving these issues before a marriage can reduce the likelihood of a divorce because the prenuptial agreement provides a framework for the couple's financial goals.
How Are Prenuptial Agreements Enforced?
One of the most important reasons for people to work with an experienced attorney when developing a prenuptial agreement concerns its actual enforceability. A valid prenuptial agreement in Kentucky needs to be entered into freely by both parties and must involve full disclosure of assets. A court reserves the right to decline to enforce a prenuptial agreement if it believes a spouse signed the agreement under duress.
Couples should view prenuptial agreements as investments in their shared future rather than a sign of possible divorce. John L. Tackett, Attorney at Law, helps clients in the greater Lexington area with complex marital issues. The firm also handles criminal defense and personal injury matters. You can visit their website to learn more, or call (859) 252-8360 to schedule a free consultation.