If you are concerned about how your property and finances will be handled during your marriage and what will happen to them if you divorce, it makes sense to conclude a contract before marriage. Because, in the event of divorce or death, a prenuptial agreement can help protect your or your spouse's money. It is important to prepare this contract about 6 months before the marriage. Because as the wedding date approaches, the subject of pressure may arise.
You can prepare the terms and conditions of the contract according to your marital assets. If both parties agree, the contract is signed and becomes valid. To create this contract containing your financial information and financial obligations, in this article, you will learn what the prenuptial and postnuptial agreement is, the stages of creating the prenuptial agreement form, and more.
What is a prenuptial agreement?
A prenuptial agreement should be signed to help couples avoid any financial surprises should the relationship break down. This contract is usually created and signed before marriage. It specifies each person's property, debts, and post-marital property division. The main purpose of the agreements is to clarify how assets will be shared in the event of a breakup. Here are a few of the many things you can secure if you make the deal:
- Allowing both of you to have a voice in how assets are distributed if you decide to have a divorce
- Protecting inherited money or assets
- Protecting you from the debt of your spouse
- Protecting children's heritage
Regardless of its type, making and formalizing this type of contract is legally binding according to the uniform premarital agreement act. It ensures that you are both financially and morally safe. For such reasons, a fair deal must be made for the good of both parties. Considering the fact that the rate of divorce is 2.5 per 1,000 people, you need this contract about 6 months before the marriage.
Prenuptial agreement vs. postnuptial agreement
First, both agreements explain the division of financial assets and the payment of alimony. The main difference between a postnuptial agreement vs. a prenuptial agreement is timing. Prenuptial agreements can be more moderate. However, postnuptial agreements can create a more tense atmosphere as there are post-divorce agreements. Therefore, a marriage contract is ideal for facilitating the sharing of assets.
The differences between pre-nuptial and post-nuptial agreements are as follows:
- The fear that one spouse is getting married for financial benefit can be reduced by entering into a prenuptial agreement.
- Prenuptial agreements require couples to talk about their personal finances before getting married, which can help prevent unforeseen financial expenses later on.
- If the prenuptial agreement doesn't suit the needs of a married couple anymore, the postnuptial agreement may be utilized to modify it.
How to create an online prenuptial agreement
Creating a form for contracts can be useful as it will serve as a legal document. So start by choosing forms.app's prenup template. This will make things much easier for both parties. You can also add a signature field and make your form legally binding. To learn more about electronic signatures, read our article about “electronic signatures.” Now let's examine the steps to create a contract form step by step.
- Step 1. Select a prenuptial agreement template from the template library.
- Step 2. You can add form fields for your requests and conditions.
- Step 3. If you want your marriage contract to be special for you, you can personalize your form.
- Step 4. Add a field for electronic signature.
- Step 5. Avoid future confusion by adding terms and conditions.
- Step 6. Preview your form and make final edits.
- Step 7. Your contract form is ready to share. You can share the agreement with the notary public using the form link and send it to your spouse.
Prenuptial agreement examples
Couples do not get married thinking that they will divorce, but it would be logical to make an agreement by considering all possibilities. These issues are evaluated within family law, but you can prepare your own agreement. forms.app offers you free templates for many contract forms. Start by choosing one of the professionally designed templates from forms.app to prepare your own marriage contract and create professional forms.
What does it cost to get a prenuptial agreement?
The cost of a prenuptial agreement can fluctuate depending on your situation, your region, your attorney, and the complexity of your case. In some simple cases, it can be $500, while in complex cases, it can be between $2000 and $6000 per person. There may be figures that will force you financially, but you can also do this yourself.
If you are a lawyer or own a law office, you can use forms.app to help couples sign a contract more easily. With forms.app's free form templates; you can create a completely free contract form. Finally, when the electronic signature is added, it will become an official document.
In this article, you have learned the main difference between prenups and postnups. However, you have also seen that making a contract, in general, can bring a solution to any problem that may arise in the future. Whatever the type, documents that may have legal value will be for the benefit of both parties.
