Prenuptial Agreement/More Info


Pre-Nuptial Agreement

Additional Information

This agreement also allows you to deal with the practical matters of running the household.  For example, it can be used to establish matters like a joint account for day-to-day living expenses, whether any automobiles are jointly owned, gifts to each other, and ownership rights in the residence.  It also provides an option for the owner of the residence to allow the other spouse to continue living there if the owner spouse dies.

This Pre-Nuptial Agreement follows the virtually universal law that these agreements must be based on a full and complete disclosure of each person's property and income to the other spouse-to-be, and that the terms of the agreement must be fair and valid.  This agreement includes exhibits where each spouse-to-be is to list his or her assets and sources of income, so that the information is disclosed to the other party.  The disclosures must be made sufficiently in advance of the wedding to allow the other party enough time to review and discuss them with an attorney.

CRITICAL INFORMATION

Because a Pre-Nuptial Agreement will almost certainly alter a spouse's rights under the law, each spouse-to-be is strongly advised to seek the advice of his or her own lawyer before signing.  In fact, if one of the spouses-to-be does not have an independent lawyer, a court may refuse to enforce the Pre-Nuptial Agreement.

The law on the enforceability of, and requirements for, pre-nuptial agreements varies from state to state.  Remember that a basic requirement for enforceability of a pre-nuptial agreement is for each party to be represented by independent counsel.  It is strongly recommended that you consult an attorney before negotiating a pre-nuptial agreement.

Two copies of the Pre-Nuptial Agreement, including the exhibits containing the income and asset schedules for each party, must be prepared for each party's lawyer to review.  To help ensure enforceability, each party's lawyer must sign the final agreement to verify that the parties are fully aware of the meaning and effect of the Pre-Nuptial Agreement.

Hints

This particular agreement is probably the most extensive and intimidating agreement in the Home Attorney package.  It covers very complex issues that are vitally important to the husband and wife.  Be sure to read each decision point (the red text) carefully.  Also, read every paragraph explanation (the green text), as these will help you to gain an understanding what each section of the agreement does.

When you first open the agreement, you may be startled to see that there are 54 decision points to be completed.  This is not as bad as it might seem- the bulk of the decision points are located in exhibits A and B (where the husband and wife disclose financial information to each other), and are just helpful hints on how to fill in the exhibits.

In a document this extensive, it is easy to miss a decision point or two.  Remember that Home Attorney will always warn you if you are about to print the document and have not completed all of the decision points.  If you have difficulty finding one of the decision points, remember that the red arrow on the toolbar will take you to the next decision point that you have not completed.


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