A premarital or prenuptial contract is an agreement between prospective spouses made in consideration of marriage and to be effective on marriage. Premarital agreements protect not only what one has, but also all future earnings one earns. Thus, these agreements act to deny the marital union use of these funds.
As with most things in life, when entering into marriage it is best to be prepared for any potential outcome. At Mercogliano & Associates, PA, we work with couples considering entering into marriage to develop premarital agreements that help each partner protect assets and enter marriage with increased confidence.
A premarital agreement sets forth rights and responsibilities between spouses. These agreements can be used to plan for a number of issues that may arise during a marriage. For instance, prenuptial agreements can include for the disposition and division of property, alimony, and post-separation support. It can also allow for other estate planning needs, such as the drafting of a will, trust, or ownership rights in or disposition of the death benefit from a life insurance policy. Under North Carolina law, these agreements can cover essentially any other matter, including the prospective spouses’ personal rights and obligations. However, the right of a child to support may not be adversely affected by a premarital agreement.
Prenuptial contracts are not romantic, and they may cause discomfort between prospective spouses. Nevertheless, they provide a critical utility in allowing the parties decide, in advance, how many issues incidental to divorce should be handled. They are not ideal for all couples. However, everyone who is engaged to be married should consider whether a premarital contract would be a good fit for them. Divorce can be, and generally is, expensive, emotionally draining and confusing to clients.
A pre-marital contract can remove much of the uncertainty and anxiety caused by divorce. These agreements can also protect those with more to lose, especially regarding claims for alimony and post-separation support. Call Mercogliano & Associates, your neighborhood attorneys, today to discuss whether a prenuptial agreement is right for you.
Residents of Fuquay-Varina, Lillington, Angier, Dunn, Coats, Raleigh, Holly Springs, Garner, Willow Spring and the surrounding areas of Wake and Harnett counties who are interested in learning more about premarital arrangements, or who would like to schedule an appointment can reach us via our contact form, email, or by phone at 919-552-2501.