Following an engagement, many Pennsylvania couples will quickly begin to make several wedding plans. Wedding venues, photographers, musicians, officiants and more are booked prior to a wedding. Many couples are now drafting a prenuptial agreement to their pre-wedding plans. While it is becoming more common for couples of all economic statuses to consider an agreement, prenuptial agreements can be especially helpful in the event of an unexpected high asset divorce.
Couples in many different financial situations are finding that a prenuptial agreement can be helpful in the event of a divorce. Effective agreements have the potential to help a couple discuss and specify all assets included in a marriage, which can help prevent some disagreements in the event of a future separation. Some lawyers advise that effective agreements should be executed at least six months prior to a wedding. If an agreement is signed too close to a wedding, a spouse may subsequently argue that it was signed under duress due to all of the wedding plans that were in place.
Although prenuptial agreements can help a couple detail agreements in the event of a subsequent divorce, they cannot predetermine child custody. Child custody is determined in separate court hearings and is based upon the best interests of the child or children at that time. It is advised that both individuals obtain separate lawyers to ensure that both parties have equal advocates.
Establishing a prenuptial agreement following an engagement may seem unromantic to many Pennsylvania couples. Couples who have processed a high asset divorce with a prenuptial agreement may be able to testify that an effective agreement can make a difficult and emotional time smoother. Newly engaged couples may each want to speak to a skilled Pennsylvania attorney about the best approach to individual legal needs prior to the wedding.
Source: CNBC, “Here’s how to bulletproof your prenuptial agreement“, Scott Cohn, March 9, 2018