PRENUPS AREN’T JUST FOR THE WEALTHY

On behalf of Craig E. Gibbs, Attorney at Law posted in divorce on Tuesday, November 13, 2018.

When Louisiana couples plan to marry, they usually don’t want to think about the potential for divorce. In many cases, however, a prenuptial agreement can help partners not only prepare for divorce but also consider how their relationship will affect other financial and legal ties. While people often think of prenups as only for celebrities or the extremely wealthy, there are a number of different factors that people can include in an agreement before marriage.

An increasing number of Americans are choosing prenuptial agreements before marriage. In fact, over 60 percent of family law attorneys in one study said they had seen a rise in the number of people seeking prenups. As Louisiana is a community property state, many people may want to arrange for a different distribution of their assets in case of a divorce. In fact, some investors in startup businesses may require their founders to sign prenuptial agreements before agreeing to provide funds.

Reproductive technology is one area that is always moving forward, so people may be coming to a marriage with frozen eggs or sperm. They may also consider having frozen embryos in the future. In all cases, it can be important to have a legal agreement that makes clear that frozen sperm or eggs are to be considered separate property in a divorce. In addition, couples creating embryos are well-advised to sign a separate legal agreement stipulating what will happen with the material that remains at the clinic.

Prenuptial agreements can even address how people handle pets or what will happen to a business in case of changes in the future. Whether partners are preparing for marriage or thinking about divorce, a family law attorney can provide guidance and representation. Legal counsel can ultimately help a client achieve a fair agreement on key issues like property division or spousal support.

Tags: Divorce

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