As COVID-19 continues to spread across the country, many engaged couples are finding themselves having to postpone their weddings until further notice. While canceling their big day is something that no bride wants, there is a silver lining in this situation. As you reschedule your wedding, creating a prenuptial agreement should be at the top of your to-do list.
A prenuptial agreement is a legal agreement between a couple that is signed before marriage and protects each party’s personal property and assets. It designates who gets what in the event of a divorce or death. Forbes claims that money and communication are two of the top reasons that couples separate or file for divorce. A prenuptial agreement can help alleviate financial stress between couples, especially now during this tumultuous time, leading to a happier marriage.
With unemployment at an all-time high, impacting over 22 million Americans, securing your assets is extremely important so that there isn’t uncertainty in the future. When creating your prenuptial agreement, you’ll need the help of an experienced family lawyer to ensure that your personal finances and marital assets are in good hands. Already married couples can also secure their assets with the help of a postnuptial agreement.
A postnuptial agreement is similar to a prenuptial agreement, as it too protects each party’s personal property and assets. However, this contract is entered into by couples who have already tied the knot. While unmarried couples can simply choose to not get married if they do not agree on the terms of their agreement, it’s a little more complicated when the couple is already married.
Postnuptial agreements are also more complex due to the fact that most married couples own property together, adding the division of marital property and assets to the agreement.
Domestic Partnership Agreements
Similar to both prenuptial and postnuptial agreements, a domestic partnership agreement is a legal contract between couples who live together but are unmarried and do not have plans to marry in the foreseeable future. This legal document protects the financial interests of each party, without marriage being involved.
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If you’ve been forced to postpone your wedding due to COVID-19 and are in need of a prenuptial agreement, or if you and your spouse have decided that you’d like to create a postnuptial agreement, contact us now. We have family lawyers skilled in drafting prenuptial and postnuptial agreements waiting to assist you.