Prenuptial Agreements
An Antenuptial or Prenuptial
Agreement is commonly referred to as a Prenup. The Prenup is a premarital
contract which defines how the parties' assets will be divided in case of the
couple's divorce.
The purpose of a Prenup
is to protect each party's separate or pre-marital property from being
classified as a marital asset. In the state of Georgia, marital assets are
subject to fair or equitable division in the event of a divorce.
Postnuptial Agreements
Similar to a Prenup,
a Postnuptial Agreement protects an individual's non-marital assets if the
parties enter into a divorce. However, the key difference is that a Postnuptial
Agreement is a contract which is entered into after the couple has already been
married.
Flat Fee Pricing Options
While Prenuptial Agreements
are often associated with the very wealthy, anyone who wishes to protect his or
her premarital or separate property may obtain a Prenup. Meriwether & Tharp
offers flat fee options to make Prenuptial Agreements accessible to anyone.
Requirements
Although Prenuptial
and Postnuptial Agreements are commonly upheld by Georgia courts, there are a
few requirements. Marital contracts must be entered into with sincere
intentions and according to an individual's free will. Any agreement involving bad
faith, undue influence, fraud, duress, or mistake is not likely to be enforced.
Marriage contracts cannot be unreasonable and each party should have the opportunity to consult with his or her attorney concerning the agreement. In addition, Georgia's public policy does not allow Georgia courts to enforce child support or child custody provisions outlined in a marriage contract.
Alternatives to Prenuptial
and Postnuptial agreements include maintaining one's separate property as
separate from marital property and placing one's separate property in a trust. Contact
us if you would like to schedule a free telephone conversation with one of our
experienced family law attorneys.
Written by: Rebekah
Ann James