Premarital agreements, also known as prenuptial agreements or “prenups, have become increasingly popular among couples considering marriage. Premarital agreements can encompass a wide variety of subjects, but usually focus on economic issues involving money, property, and retirement plans. For instance, a premarital agreement may stipulate that a spouse who solely owns a house prior to a marriage will continue to maintain sole ownership of the house throughout the marriage and in the event of a separation or divorce. To give another example, both parties signing a premarital agreement may also waive their future right to seek spousal support, also known as alimony, in the event of a divorce.
Because premarital agreements become enforceable once a couple has married, and can only be invalidated in certain specific situations, it is extremely important to consult a family attorney if you are considering entering into a premarital agreement. For instance, while the waiver of future spousal support may be advantageous to the spouse who works, it may be detrimental to the other spouse who gives up a career for the sake of the marriage. When deciding the terms of a premarital agreement, the parties may not even realize that they are putting themselves or their loved one in an unfair position.
The attorneys at Dolan & Dolan have experience drafting and reviewing premarital agreements and can advise either you, alone, or you and your spouse, together, as to the particulars of a premarital agreement. If you have an issue related to a premarital agreement, call Dolan & Dolan to set up a free consultation and case evaluation