Setting Expectations Before Marriage
Prenuptial agreements or “prenups” are contracts signed by the parties to a marriage before the marriage takes place. Prenups ensure the rights and obligations of each party to a marriage in the unfortunate event of divorce. If a party attempts to seek rights in divorce, which they contracted away as part of the prenuptial agreement, the agreement will operate to stop them from recovering, in most instances.
You Cannot Waive Child Support
The only realistic limitation on a prenup is that parties cannot agree not to pay or seek child support. This is because Pennsylvania law holds that parents owe an automatic duty of support to their unemancipated children. In drafting a prenuptial agreement, it is imperative that you have a licensed attorney prepare and review the document.
If you are the party whom the other party wishes to sign the prenup, then you are entitled to and should seek the advice of a licensed attorney. Turn to the Greensburg firm of Skala Miller, PLLC, Attorneys at Law, for the help you need.
What A Prenup Can Do For You
In the end, well-drafted prenups have the potential to save thousands of dollars and years of headache. They can actually create stability in a marriage where one party can be more generous with their money, by being safe in the knowledge that they are only paying for what they choose.
Best practices in drafting and signing a prenuptial agreement:
- Both parties should have their own attorney (be smart)
- Both parties should give something and get something in return as part of the agreement (be fair)
- Draft and sign the prenup as early as possible before the marriage occurs (be timely)
- Be open and thorough about your existing assets and sources of income (be honest)
- Put the final agreement in writing (be exact)
- Give the other side time to review the prenup with their attorney (be patient)