Premarital Agreements

A premarital agreement, also known as a prenuptial agreement, allows parties who are contemplating marriage to set out in advance how their property will be divided in the event of divorce, separation, death or other event.   Premarital agreements can also state whether spousal support will be paid on divorce, and can dictate terms related to the making of a will or trust, or ownership rights and disposition of death benefits from life insurance policies.   Items which may be subject to a pre-marital broad are extremely broad and include any matter not in violation of law or public policy, except that the right to receive child support may not be adversely affected.

In order to be valid, a premarital agreement must be in writing and signed by both parties.   In addition, the agreement must be agreed to voluntarily and based on a full and fair disclosure of the assets and debts of both parties.   Parties must either be represented by independent legal counsel or have the opportunity to have the agreement reviewed by a lawyer prior to signing.

Premarital agreements are not uncommon in situations where one of the spouses has been married before or has disproportionately more property or earnings than the other spouse. These agreements can eliminate much of the uncertainty and stress surrounding dissolution of a marriage, and allow the parties to enter into marriage with greater peace of mind.

It is important that a premarital agreement be drafted properly to realize the parties' wishes and avoid challenges later on.   If you need assistance drafting a premarital agreement or challenging one that was not drafted properly, contact the attorneys at Rombro & Associates for a consultation.