Premarital Agreement Checklist - Willick Law Group

The Premarital Agreement Checklist by Willick Law Group is used to assist couples in drafting a prenuptial agreement. This checklist helps in identifying and discussing important issues that should be addressed in the premarital agreement.

FAQ

Q: What is a premarital agreement?A: A premarital agreement, also known as a prenuptial agreement, is a legal contract between two individuals who are planning to get married. It outlines how their assets, debts, and other important matters will be divided or handled in the event of a divorce or separation.

Q: Why would someone need a premarital agreement?A: There are several reasons why someone may want a premarital agreement. It can protect their individual assets, clarify financial responsibilities, and provide a sense of security in case of a divorce or separation.

Q: What can be included in a premarital agreement?A: A premarital agreement can address various matters such as property division, spousal support (alimony), debts and liabilities, inheritance rights, and any other financial or legal issues that the couple wishes to address.

Q: Can a premarital agreement be modified or revoked?A: Yes, a premarital agreement can be modified or revoked, but it generally requires the agreement of both parties and must be done in writing. It is important to consult with an attorney to ensure that the modification or revocation is legally valid.

Q: Is a premarital agreement legally enforceable?A: In most cases, a premarital agreement is legally enforceable as long as it meets certain requirements such as being voluntarily entered into by both parties, being in writing, and having full and fair disclosure of assets and debts at the time of signing.

Q: Do I need an attorney to create a premarital agreement?A: While it is not legally required to have an attorney, it is highly recommended to consult with a family law attorney who specializes in premarital agreements. An attorney can ensure that the agreement is legally valid and meets your specific needs.

Q: Can a premarital agreement only be created before marriage?A: No, a premarital agreement can also be created after marriage. In that case, it is called a postnuptial agreement. The process and legal requirements are generally similar to those of a premarital agreement.

Q: Are premarital agreements only for wealthy individuals?A: No, premarital agreements are not exclusively for wealthy individuals. They can be useful for anyone who wants to protect their assets or clarify financial matters before getting married.

Q: How much does it cost to create a premarital agreement?A: The cost of creating a premarital agreement can vary depending on factors such as the complexity of the agreement, the attorney's fees, and any additional legal services required. It is best to consult with an attorney for an estimate of the cost.

Q: Can a premarital agreement override state laws?A: Yes, a premarital agreement can override certain state laws regarding property division, spousal support, and other financial matters. However, there are limitations, and it is important to consult with an attorney to understand the specific laws in your state.