Prenuptial Agreements
They also realize it is not always so. Finances can become a major source of conflict leading to divorce. A prenuptial agreement defines how assets and debts would be divided in the event of a divorce.
I charge a flat fee of $1800 to prepare a prenuptial agreement. That includes customizing how assets and debts will be divided in the event of a divorce. The agreement can establish the intention of each party as to their respective financial contributions during the marriage. It may address the issue of alimony. I will help you construct a full disclosure of assets and debts.
I cannot represent both parties since it is a conflict of interest. Prior to executing the agreement, the other spouse will need the document reviewed by their own attorney.
Do not have it done at the last minute and make sure there is a full financial disclosure.
Advantages of entering into a prenuptial agreement:
The process of entering into a prenuptial agreement requires the parties to engage in a conversation about finances.
The conversation includes a disclosure of their current financial situation as well as expectations of how they will share financial obligations during the marriage.
By having the conversation and the financial disclosure prior to the marriage, it can avoid unpleasant surprises that could lead to conflict later on.
It defines what assets are marital and what assets are non-marital.
In Georgia, without a prenuptial agreement, marital assets and debts are divided equitably in a divorce. However, this may become difficult to value because assets a party had before the marriage could have value added during the marriage.
That makes it a mixed asset having both pre-marital and marital value. A prenuptial agreement can identify pre-marital assets and define how they are to be divided in the event of a divorce, notwithstanding any marital value added.
If there is a divorce, a prenuptial agreement makes the process less contentious.
Since there is a definition of what assets are separate property, what assets are to be divided, and how they will be divided, the process becomes less complicated.
There may also be a preset schedule of alimony or a waiver of alimony.
Besides defining who will be awarded certain assets it can also define who will be responsible to pay certain debts.
By disclosing debts prior to the marriage the other spouse is not taken by surprise. If those debts have to be paid during the marriage there can be an agreement as to the source of funds used to pay those debts.
It can also define who is responsible for them in the event of a divorce.
It can protect your estate plan.
If you have children from a prior marriage and you want to leave them assets in the event of your death, a prenuptial agreement is needed to have your new spouse waive any right to your estate.
You would still be free to leave your new spouse as much of your estate as you want.