More and more people in Georgia and around the country are deciding to enter into prenuptial agreements before they marry, with the agreements especially becoming more popular with millennials. There are several reasons why these agreements may be a good idea for those who are getting married, but they must be written in a manner that is legally valid in order to stand up in court.
The primary purpose of a prenuptial agreement is to provide a formal contract with which the parties can protect their assets and financial interests in the event their marriage ends. Even young couples without many assets may use prenuptial agreements to plan for future earnings and how those will be handled. Many young people also use prenuptial agreements so they won’t be held responsible for their spouse’s student loan debt if they later divorce.
A prenuptial agreement is also often used to waive future rights to spousal support or to provide for a specific division of property and assets. If an agreement contains invalid provisions, such as plans for future child custody, the agreement may be disregarded in part or in full by a divorce court.
A well-drafted and legally valid prenuptial agreement may help a divorce go much more smoothly. If an agreement is deemed invalid, however, the court may ignore it and make its own rulings regarding property, asset and debt division. People who want to have the protection of a prenuptial agreement may want to discuss the matter with a family law attorney. In order to avoid a conflict of interest, each party should have separate legal representation.
