The age of life expectancy has increased over the years. One consequence of this seems to be that many people are marrying later in life. In fact, some Alabama couples might be in their Golden Years when they decide to marry. Whether to sign a prenuptial agreement is a concern of many. It is misguided thinking to assume that prenuptial agreements are only for those who are financially rich and those who are young. For elderly adults who choose to marry, this type of contract might prove beneficial because of the complexities that might exist after a lifetime of building wealth, businesses, stock portfolios and other notable assets. In some cases, one or both potential spouses is a widower or widow, and his or her deceased spouse’s trust funds might also affect future financial obligations or assets. Most couples marrying late in life will want to ensure that their children’s … Continue reading A late-in-life Alabama wedding might include prenuptial agreement
Category Archives: Prenuptial Agreements
What Alabama couples should know about a prenuptial agreement
A recent article discussed issues concerning contracts drawn up between engaged couples as opposed to those entered into after a marriage takes place. Alabama couples might wonder if a prenuptial agreement is better or worse than a post-nuptial contract. The article offered information on both of these legally binding documents. Some people say that the time before marriage should be spent talking about love, family and celebration rather than discussing a premarital contract between future spouses. Others believe that waiting until after the wedding to decide the legalities of property division, pre-marital assets and other pertinent items of interest can be a recipe for disaster should a divorce subsequently occur. The simple truth is that many marriages end in divorce. Those who advocate for prenuptial contracts say that having it all spelled out before the wedding helps to avoid complication and stress if the marriage does end in divorce. Couples who … Continue reading What Alabama couples should know about a prenuptial agreement →
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Alabama farmers might want to consider prenuptial agreement
Preparing for marriage is an exciting time in a couple’s journey through life. At times, however, issues involving personal assets, future inheritances or land ownership come into play, potentially changing adventure to stress if a couple is not careful. Farmers and ranchers preparing for marriage in Alabama might want to consider a recent trend that many landowners are following across the nation. Signing a prenuptial agreement, some say, provides a means of security and prevents potential worries for a soon-to-be married couple. A recent article stressed the potential value of a prenup in the event that a future marriage becomes dissolved through separation, incapacitation or death. Laws differ by state; therefore, it is wise for a couple to consult a legal professional with experience in the execution of similar contracts in the state in which they reside. When a farm is involved, various issues affect whether it will be seen as … Continue reading Alabama farmers might want to consider prenuptial agreement →
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Language is important when it comes to a prenuptial agreement
Prior to marriage, many couples decide to enter into a contract which commonly determines property divisions and spousal support in the event of a future divorce. Alabama couples might be interested in a recent decision made by a court in another state. The ruling stated that one couple’s prenuptial agreement, executed abroad in 1997, is not valid because one of the spouses could not read the language in which the contract was written. At the time the agreement was executed, the bride-to-be relied upon a verbal translation offered by her fiance. The man in question is apparently worth tens of millions of dollars. The woman is said to have trusted the translation he gave of the prenuptial agreement. He represented that it would simply bar her from being able to lay claim to his parent’s riches if she divorced him. In 2012, when the woman started proceedings for divorce, she … Continue reading Language is important when it comes to a prenuptial agreement →
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Prenuptial agreement can alleviate Baby Boomer stress
In the state of Alabama, and all across the nation, the youngest of the Baby Boomers are slated to turn 50 this year. According to a recent poll, 40 percent of 2014’s newlyweds have also been involved in previous marriages. A prenuptial agreement is often used in these circumstances in order to prevent future discord and squabbles. A recent report gave advice to those born between 1946 and 1964. Due to the fact that the human life expectancy has risen, the report suggested that those approaching retirement should begin early to prepare for the long-term reality of their Golden Years. Financial suggestions of saving more and spending less were included in the report. Another tip given to readers stated that it is better to “loan” your children money, rather than “gifting” it to them. This way, if your children end up in divorce settlements, your money will be protected. Circumstances … Continue reading Prenuptial agreement can alleviate Baby Boomer stress →
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Prenuptial agreement can be beneficial for Alabama couple
Prior to saying “I do,” many modern couples are now signing prenuptial agreements. This is because couples are now realizing that a prenuptial agreement can help them avoid confrontation in the future. For Alabama couples who are heading toward the altar, a prenuptial agreement deserves serious consideration. Prenuptial agreements can be beneficial for many different reasons. One of those reasons is an inheritance. Having a prenuptial agreement in place is often reassuring to generous family members, such as grandparents, who may be concerned about the prospect of their assets being handed to an in-law in the event of a divorce. In addition, prenuptial agreements can help to soften the blow that a divorce could potentially deliver, since assets can increase and decrease throughout a marriage. This is especially true as financial success, incomes and bankruptcy are often completely unpredictable. For this reason, it is wide to avoid dollar-amount promises, instead one could … Continue reading Prenuptial agreement can be beneficial for Alabama couple →
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A prenuptial agreement can help avoid court battles over pets
Prenups are becoming more common for newly engaged couples that wish to safeguard the assets they are bringing into the marriage and to provide for the division of marital assets if the couple ends up getting a divorce. A prenuptial agreement could potentially eliminate the need for Alabama couples to spend a significant amount of time and money in the courts if their marriage ends. Many people are also beginning to use prenups to deal with one other item that the law considers property — the family pet. People can spend thousands of dollars attempting to gain “custody” of the family pet, which can be problematic due to the fact that only Alabama’s property division laws apply in the courtroom. Who receives the family pet in a divorce is not argued or decided in the same manner as child custody issues. Who is the most fit to take care of the … Continue reading A prenuptial agreement can help avoid court battles over pets →
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Prenuptial agreement covers more than just assets
Most people believe that prenups are only a preparation for a divorce in the future. However, entering into a prenuptial agreement is not only for safeguarding assets and property, it’s also about proper communication and planning ahead of time. This can help prevent or at least decrease the chances of Alabama couples having bitter arguments in the future. Prenuptial agreements typically address certain issues pertaining to assets that were held before the marriage and assets that were gained throughout the marriage between both spouses. Also, prenups outline financial obligations, including credit cards and college debt. It’s usually beneficial to couples if they isolate these debts and have discussions about who will be responsible for paying them. In addition to finances, prenups can also address issues as to how children are to be raised and their religious practices during holidays. While child-related matters may be limited in the courtroom, the judge … Continue reading Prenuptial agreement covers more than just assets →
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In some circumstances, a prenuptial agreement can be set aside
For many individuals — whether they have important assets or children that they are trying to protect — a prenuptial agreement can be an essential tool to utilize before entering into a marriage. However, it may surprise some in Alabama to learn that these agreements are not necessarily airtight. After a divorce, a prenuptial agreement can actually be challenged for a number of reasons. When petitioning to have a prenup thrown out, the question of how and when it was signed may arise. Details concerning the circumstances of its signing are of particular importance as they might indicate that one party was placed under undue duress before signing. For example, a prenuptial agreement signed right before a marriage might be a sign of a spouse who felt pressured to sign rather than cancel a wedding for which they had already shelled out a substantial amount of non-refundable money. A judge … Continue reading In some circumstances, a prenuptial agreement can be set aside →
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Including prenuptial agreement in Alabama marriages
Planning a wedding can be a bittersweet moment that is fun and stressful at the same time. While Alabama couples are choosing the perfect venue for their wedding, they may also consider a prenuptial agreement. Prenuptial agreements can safeguard spouses’ assets in case of divorce. While some may view a prenup as a lack of trust and intimacy, there’s a difference between a young couple with no assets and an older couple with finances at stake. A large amount of couples may decide to get married at a time when they already have a successful career and own a home. They may also have large retirement savings and a considerable amount in financial assets. Even though a prenup may seem businesslike, it can still help to avoid a protracted divorce settlement in the future. Moreover, relationships can still be successful when a prenup conversation is brought up. It’s recommended that … Continue reading Including prenuptial agreement in Alabama marriages →
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