Prenuptial & Postnuptial
A prenuptial agreement is done well in advance of the upcoming wedding. Ideally, both parties would be represented by their own attorneys. The parties exchange discovery to ensure fair and reasonable disclosure of income, assets and liabilities. A formal written contract is drafted and executed by the parties. The signing of the document is usually recorded. There is a strong bias toward enforcement of these agreements. Provisions regarding child support and parenting allocation are generally reserved. A postnuptial agreement is a contract drafted after the marriage and done in the same way as just described. The post nuptial agreements can modify an existing prenuptial agreement that over time has become outdated. These agreements are also entered into if there was not enough time before the marriage to execute a prenuptial agreement. Private owned family companies may require their children to enter into a postnuptial agreement before transferring ownership. Unexpected inheritances may trigger the need for a postnuptial agreement to avoid transmutation. There are many other reasons to enter into these types of agreements and it is important to have a consultation to assess your individual needs.