Prenuptial Agreements: What You Should Know
Sept. 6, 2022
If your partner said they want a prenuptial agreement, or you are considering getting a prenup before the marriage, you are probably looking for more information. Whether or not you should get a prenuptial agreement depends on your personal situation.
The practiced attorney at Jeffers Law Office has the knowledge, resources, and experience needed to educate you about everything you should know about prenuptial agreements. He proudly serves clients in Overland Park, Kansas, and surrounding areas of Leawood, Shawnee, Olathe, Prairie Village, Lenexa, including Johnson County.
What Is a Prenuptial Agreement?
A prenuptial agreement (prenup) is a written contract that spells out the spouses’ rights to assets and property before entering into the marriage. In particular, a prenup allows the parties to specify how they would want to divide their assets and debts in the event of divorce. There are many things a prenuptial agreement can cover in Kansas, including but not limited to:
The spouses’ rights regarding property (separate and joint);
What would happen to the spouses’ separate and joint property in the event of divorce, separation, death, or other events;
Whether either spouse would be entitled to alimony in the event of separation or divorce;
The amount and duration of alimony payments;
Whether either spouse would be required to create a will, trust, or other documents in compliance with the terms of the contract;
The spouses’ entitlement to death benefits from each other’s life insurance policy; and
Which state law would govern the agreement.
A common question people have before and after getting a prenuptial agreement is, “Can we modify our prenup?” As long as both spouses agree, prenuptial agreements can be modified. To change the terms of the existing prenup, parties can add modifications to the contract or create a new one.
Should You Get a Prenuptial Agreement?
Contrary to popular belief, prenuptial agreements are not just for the wealthy. Any couple can benefit from signing a prenuptial agreement before the marriage to protect their property and rights.
Many people are reluctant to sign a prenuptial agreement because they think that getting a prenup means their marriage is doomed to end. No, signing a prenup does not indicate that the marriage will not last, nor does it increase the chance of divorce. In fact, having a prenuptial agreement provides financial certainty for both spouses, which can have a positive impact on their relationship and marriage in the long run.
You may want to consider getting a prenuptial agreement if you have assets that you want to protect. Those assets may be real estate, retirement accounts, a business, automobile, or others. In addition, having a prenuptial agreement can save you and your spouse from a long and expensive legal battle if your marriage falls apart.
If you cannot decide whether you need or do not need a prenuptial agreement, seek legal counsel from a skilled family law attorney. An attorney will review your particular situation and help you understand the benefits and drawbacks of getting a prenup in your specific case.
What Makes a Prenuptial Agreement Enforceable?
The state of Kansas adopted the Uniform Premarital Agreement Act (UPAA), which lays out the rules for creating prenuptial agreements. To be enforceable and meet the standards of the UPAA, a prenuptial agreement must be in writing and have the signatures of both partners (prospective spouses).
The law also requires both spouses to be adults and have the mental capacity to enter into the agreement. Thus, if a person is not of legal age or suffers from a mental condition that makes them unable to fully understand the terms of the prenuptial agreement, such a prenup would not be legally enforceable.
Prior to drafting or signing a prenuptial agreement, you may want to consult with a skilled attorney to confirm the validity of the prenup.
Loyal & Compassionate Counsel
If you are contemplating marriage or need to make adjustments to an existing prenuptial agreement, reach out to a competent family law attorney in Overland Park, Kansas, to address your questions and concerns. A knowledgeable attorney at Jeffers Law Office can help you plan for the future by creating an enforceable prenup tailored to your specific needs and circumstances. Contact the firm’s office today to get effective and compassionate representation.