ATTORNEY IN NEWTON, KANSAS
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
A postnuptial agreement is a marital agreement that is entered into by the spouses after getting married. Most couples enter into postnups to safeguard a family business, clarify financial responsibilities during the marriage, and avoid taking responsibility for the other spouse's debts. A postnup can cover the following:
Provisions relating to property division after divorce
Parameters for spousal support
Provisions relating to the division of debts
Specifications as to what happens to assets, real estate, and other property when one spouse dies
THE TRUTH ABOUT MARITAL AGREEMENTS
A divorce or death may lead to some serious heartbreak and other significant financial ramifications. A marital agreement is not "only for people who think they're going to divorce," or "only for the rich." Likewise, a prenup isn't harmful to the less wealthy spouse.
Rather, marital agreements can be beneficial in that:
They draw clear boundaries, which can make your life easier in the long run
They give you and your spouse or fiancé the opportunity for an open, honest conversation about what's important to each of you
They protect you in the event that something changes down the road
MAKING SURE IT'S ENFORCEABLE
It is usually advisable to hire two lawyers, one for each party, when drafting a marital agreement. A court may invalidate the prenup if it seems unfair to the spouse without legal representation. Hiring an attorney makes this process easier, helps you meet all procedural requirements, and ensures that the agreement is enforceable.
LEGAL COUNSEL'S ROLE
In the event of a divorce, a prenuptial agreement helps protect accumulated assets, establish property rights, provide financial security, and provide for your children. However, a court can easily declare the prenup invalid without legal representation. For this reason, hiring an attorney is crucial when drafting a prenup for proper guidance and to create a fair agreement.
At Cornerstone Law, LLC, you’ll receive experienced representation in matters of prenuptial and postnuptial agreements. As your legal counsel, I will guide you through key decisions and discuss the benefits and risks of your choices. I will also ensure that the agreement is fair, valid, meets all procedural requirements, and doesn't violate any provision involving public policy or nonmonetary matters. I will work diligently and productively with all parties involved to achieve the best possible outcome for your unique situation.
EXPERIENCED PRE-NUPTIAL AGREEMENT ATTORNEY IN NEWTON, KANSAS
If you need assistance drafting a prenuptial agreement, call Cornerstone Law, LLC today to schedule a one-on-one consultation. I will help you understand the benefits and risks, and provide you with the experienced legal guidance you need. I'm proud to serve clients throughout Newton, Wichita, Hutchinson, Hillsboro, McPherson, Harvey, and Marion, KS.