According to the American Psychological Association (APA), about 40 to 50 percent of first marriages in the United States end in divorce. However, only 5% of these divorces have a prenuptial agreement in place to settle the divorce proceedings. Prenuptial agreements help define expectations, protect assets and children, provide financial security, and help couples achieve peace of mind. When a couple is planning to get married, a prenuptial agreement can benefit and protect both parties.
If you are considering drafting a prenuptial agreement with your future spouse, consulting with an experienced Kansas family law attorney is crucial for proper guidance. At Cornerstone Law, LLC, I have dedicated my career to helping clients draft this important document. I will offer you the experienced legal guidance and advocacy you need to make key decisions. A one-on-one consultation with an experienced Kansas prenuptial agreement attorney can put you on the right path to protecting your accumulated assets, real estate, finances, children, and future.
Cornerstone Law, LLC proudly serves individuals and families throughout Newton, Kansas, and the surrounding areas of Wichita, Hutchinson, Hillsboro, McPherson, Harvey, and Marion.
What are Marital Agreements?
Oftentimes, couples agree to share their assets, real estate, and finances when they decide to marry. However, in the event of a divorce, such assets, including property, bank accounts, and debts, will be subject to equitable division. A marital agreement specifies how a couple's property and assets will be distributed or shared upon their divorce or the death of one party.
Furthermore, marital agreements ensure that couples are able to set parameters for property division in a divorce or legal separation. The agreement can be entered before marriage ("prenuptial agreement") or after marriage ("postnuptial agreement").
A prenuptial agreement is a marital agreement entered into by the spouses before the marriage. Prenups, as they are often called, are vital when one of the spouses has a large estate, significant assets, or will receive a large inheritance from a family trust. A prenup can cover the following:
- Protections against the other spouse's debts
- Provisions providing for children from previous relationships
- Protections to keep the family property in the family
- Protections for estate plans
- Instructions for property distribution upon divorce
- Descriptions of each spouse's responsibilities, and how household bills and expenses will be managed