A Premarital Agreement is Made in Contemplation of Marriage

The pre-nuptial agreement is a legal document that marrying couples may want to consider entering before actually tying the knot. While some individuals see pre-nuptial agreements as a sign of mistrust towards the person with whom they will spend the rest of their lives; many financial experts, legal professionals and marriage counselors rather say that entering into one is rather advantageous, especially in the event that the marriage does not work out and end in divorce.

Pre-nuptial, ante-nuptial or pre-marital agreement gained popularity in the U.S. in 1848 after the Married Women’s Property Act was passed into law. Prior to this law, a legal policy known as “coverture” required that a woman who entered into marriage had to surrender to her husband whatever she owned, even her rights and identity. Thus, the right to own properties, as well as the right to sell or transfer these properties’ ownership was alienated from her.

Coverture also took away a wife’s rights from getting an education and from receiving a salary (unless she was allowed by her husband); thus, if she was allowed by her husband to work, she will have to surrender all her earnings to him. Simply put, the coverture policy took away a wife’s civil and property rights, and rendered her only as an extension of the man she married.

The Married Women’s Property Act gave married women the right to earn and keep her earnings – this, somehow, offered her a bit of protection in the event that her husband divorces her (as divorce was common thing during those times).

A pre-nuptial agreement, to be understood by both parties, will need to be discussed by them as candidly as possible. You may seek the assistance of lawyers who will see to the observance of both of rights and interests and who will prepare the necessary documents based on the decisions arrived at. Some of the benefits this agreement provides include protection:

Over wealth inherited from your family;
Of your personal and business properties and assets made before marriage;
Of the financial security of your child/children from a previous union; and,
From lengthy and costly court settlement in the event of divorce.

As explained by Kirker Davis, LLP, drafting and signing a premarital agreement remains a contentious issue for many couples. However, having a premarital agreement is the best way to protect the interests of you and your spouse. A premarital agreement is defined in the state of Texas as “an agreement between prospective spouses made in contemplation of marriage and to be effective on marriage.” The agreement must pertain to property held before or gained after marriage, including income and earnings. It is imperative to have the strongest legal team conducting your premarital agreements to protect your best interests.

What You Need to Know About Alimony Payments

Going through the process of divorce means that the legal union between spouses effectively becomes terminated, leaving them free from the commitment they’ve made with each other. Despite this dissolution, spouses that were once married to each other do not usually part ways without having at least some sort of shared responsibility or obligation that they will need to continually fulfill. This is true for couples with children that are looking to continue parenting together, as well as for couples where one of the partners ends up experiencing significant financial turbulence after the conclusion of their union.

According to the Raleigh divorce attorneys of Marshall & Taylor, P.C., it isn’t at all uncommon to find one partner experiencing a significant decline in their standard of living following a separation. Such an outcome is common for situations where one of the spouses had to forgo professional opportunities to become a stay-at-home parent or to help the other spouse advance in their career. Whatever the case, the law provides ways to ensure continued spousal support through alimony payments.

Alimony payments are expected to be made by the partner that is known to be in a better financial position. In most cases, this is determined by the court based on a number of factors. The most common factors that a judge will consider when making a decision regarding alimony are each spouse’s income and employment status, their age, as well as their current health status. The court is also expected to decide how long alimony needs to be paid, and in what sum.

When alimony payments aren’t promptly made, it’s wise to consult with an experienced family law attorney to avoid protracted disputes. Expert legal assistance is also required in cases where one or both couples experience lifestyle changes that might prove that there has been a significant change in their financial needs.

3 Truths About Divorce

It goes hand in hand with the discussion of marriage that divorce is an option in order to sever that contract. There are just some instances in life wherein divorce is necessary and that the given relationship would be better off with both parties as separated instead of forced to be together. Divorce has become quite common in its depiction in mainstream media – and these aren’t always factual representations. But people seem to believe how things go in movies and TV shows when, in actuality, that isn’t exactly how things play out.

The following are three truths you may not know about divorce, and should consider before going through such a long, difficult battle in many cases.

First of all, you don’t have to hide your assets in fear that it will make the settlement harder between the two parties. According to the website of Alexander & Associates, a divorce can go much faster if there is transparency and agreement between the two parties. There is no particular law that sets it in stone that one party will receive half of everything that the other owns as the financial aspects are personalized, depending on the economic background of either party.

The next bit is this: you don’t need to wait for a particularly nasty incident in order to file for divorce. There is such a thing as a no-fault divorce, wherein neither party committed a fault and simply want to separate for personal reasons. A divorce case of this nature can usually take a bit longer than a divorce with a fault, of course, but an amiable agreement is leagues better than one filled with tension, stress, and trauma; sometimes, it’s a blessing to be able to choose this route.

Lastly, the child doesn’t always go to the mother. It is always difficult for a child to have to go through his or her parents’ divorce and so the settlement of custody is always a tricky subject as it is the best interests of the child that is prioritized above all things. Some fathers may feel concern or trepidation when first filing for divorce out of fear that they may not be granted custody of their children. However, favor usually goes towards the primary caregiver of the child or the parent who is the most capable of taking care of the children. Couples that separate on good terms often agree on shared custody for the child’s sake.