The L.A. Times ran a story recently on marriages, death and divorce, and the advantages of having a prenuptial agreement. The article expounded on the fact that most marriages in the 1970’s were first marriages, however today the Census Bureau statistics points to the fact that today marriages are split between first marriages and marriages where both the bride and groom have been through the process before. In addition to the greater numbers of first, second and even third marriages are the inclusion of children of one or both partners, and possibly even grandchildren for some couples. Making financial arrangements and plans with a prenuptial agreement before the wedding is a wise choice.
Drafting Your Own Prenuptial Agreement Easily Dismissed in Court
With many couples today marrying for the first or second time in their 30’s or later, with careers already becoming established and possibly a child or two, a divorce without pre-planning can bring a significant loss to one or both partners that could have been protected through deciding to have a legal prenuptial agreement.
A legally drawn up prenuptial agreement documents each partner’s exact wishes in the event of divorce or death. Many a couple who have drafted their own prenuptial agreements on a blank piece of paper, or even in some cases on a napkin, discover how easy that piece of paper becomes just that in a court of law. Prenuptial agreements are best defended when they are drafted by an attorney experienced in drawing up Georgia prenuptial agreements.
When You Need to Have a Prenuptial Agreement
Drafting a legal prenuptial agreement is always a smart decision, however it becomes even more crucial when:
- you own assets such as a home
- there are stock or retirement funds to consider
- either partners own all or part of a business
- either has children from one or more previous marriages
- either has a need to have plans in place to care for elderly parents
- there is a need to make sure a handicapped child or grandchild will be cared for
- either partner is already earning more than the other
- either partner is in line to have an inheritance awarded
- there has been a significant promotion and raise in your career
- either partner will be supporting the other while they are in school
- there are substantial savings in one or both of the future partners bank accounts
- any other reason that may become a concern in a divorce or death
A Georgia Prenuptial Agreement Can Strengthen a Marriage
According to Bankrate.com, Georgia is an equitable distribution state where assets are divided according to what the Georgia Court deems fair. Without a Georgia prenuptial agreement in affect, a judge will carefully look at the length of marriage, what assets each person brought into the marriage, if there are children, and numerous other factors. The judge will make a determination on what they think is fair and even. Bankrate.com looks at the financial aspect of a marriage and recommends a prenuptial agreement be discussed and planned well before the wedding day; being honest with each other about finances, credit, debt load, salary and other factors make for a stronger marriage.
Hiding financial information or drafting a Georgia prenuptial agreement right before the wedding may be just cause for a judge to toss the agreement out if contested during a divorce, or if the prenuptial agreement is contested by family members following a death. Retaining legal counsel, like Miller & Hightower, who are experts in Douglasville prenuptial agreements, Georgia law, and family law is paramount in making sure your prenuptial agreement will hold up in a court of law.
The divorce rate today is around 50% for a 1st marriage, 60% and greater for a 2nd and 3rd marriage. A Georgia prenuptial agreement will protect you and your assets in the event your marriage ends, and will never be used if your marriage lasts a lifetime.
Douglasville Prenuptial Attorney
The Douglasville family law team of Miller & Hightower is highly experienced in family law and Georgia divorce law. Call your Douglasville family law attorneys for a free confidential consultation.