Prenuptial Agreement Attorney in Hoover, AL
Nothing says “I love you” more than a prenuptial or postnuptial agreement! Jokes aside, many couples or newlyweds are mortified at the thought of bringing up the possibility of a prenuptial or postnuptial agreement. But the fact remains that these documents can go a long way in protecting both partners in the event that you decide marriage is no longer what either of you wants.
If you are considering a prenuptial or postnuptial agreement, you need to be sure to craft your agreement carefully. The right Hoover, AL prenuptial/postnuptial agreements lawyer can ensure your future is protected. Call Kirk Drennan Law at (205) 803-3500 to start working on yours as soon as today.
What are Prenuptial and Postnuptial Agreements in Hoover?
Divorce can get messy fast, particularly when one spouse feels as though they have been wronged by another. When this happens, it is not unusual for spouses to argue and fight over the terms of their divorce settlement. Some spouses lose everything in their attempt to dig their heels in and not work cooperatively in resolving the terms of their divorce.
But what if we told you all of that could be avoided by the simple implementation of a prenuptial or postnuptial agreement? The fact is, divorce happens more often than successful marriages do. According to the U.S. Census Bureau, approximately fifty percent of all marriages in the U.S. end in divorce. And with the odds working against you, it is important to take action to protect yourself and your spouse in case your marriage falls apart.
Of course, nothing says romance quite like a prenuptial or postnuptial agreement. But they can actually serve as a way of providing legal protection and support to the both of you. Many spouses can understand this reasoning and will be on board to work with you to formulate the terms of your prenuptial or postnuptial agreement.
When to Get a Prenuptial or Postnuptial Agreement
Prenuptial agreements refer to the legal agreement that you sign before you wed, whereas postnuptial agreements are signed after you have been married. There are many situations in which you might find yourself in need of a prenuptial or postnuptial agreement. And they do not only include instances where one or both spouses are wealthy.
Some of the different situations in which you might find yourself needing a prenuptial or postnuptial agreement include:
- Your marriage is in trouble
- One or both spouses have a considerable amount of debt
- One or both spouses plan to take on a considerable amount of debt
- One or both spouses are expected to receive an inheritance
- One or both spouses own their own business or are in business together
- One or both spouses have previously been married
- One or both spouses have children from another relationship
What Should Be Included in Your Hoover, AL Prenuptial or Postnuptial Agreement?
The purpose of a prenuptial or postnuptial agreement is to protect you and your spouse financially if your marriage falls apart. In having one of these agreements in place, the terms of your divorce settlement will already have been worked out. There should be fewer issues regarding important marital and divorce matters including:
- How your marital assets and property will be divided
- How your marital debts will be divided
- Which assets and debts are considered marital
- Whether alimony is going to be paid
- If alimony is being paid, how much and for how long
- Details surrounding child custody arrangements and parenting plans
- Details surrounding child support
These are just a few of the details that you should include in your Hoover, AL prenuptial or postnuptial agreement. You can custom craft your prenuptial or postnuptial agreements when you work with an experienced attorney who is advocating for your rights.
Risks of Not Having a Prenuptial or Postnuptial Agreement
There are many risks that come with not having an existing prenuptial or postnuptial agreement in place. Most of these risks revolve around how your divorce settlement will be finalized.
The details surrounding a divorce settlement can often be complex. But they are broken up into two primary categories: the division of marital property and assets, and alimony. Failure to have a prenuptial or postnuptial agreement puts you at risk for being taken advantage of in your divorce settlement. Here’s how.
How Marital Property is Divided in Alabama Divorces
Alabama is an equitable distribution state. This means that your marital assets, property, and debts all need to be divided fairly in your divorce. Alabama is not a community property state. In community property states, your marital assets and debts will need to be divided 50-50.
However, equitable distribution laws are only in place in situations where a prenuptial or postnuptial agreement is not in effect. Your prenuptial or postnuptial agreement can predetermine how your marital assets, property, and debts will be distributed if your marriage ends in divorce.
Alabama Alimony and Spousal Support Laws
Another common point of contention in Hoover, AL divorces is alimony. It used to be that alimony could be awarded forever and many individuals would assume that they were entitled to alimony. But this is no longer the case. In fact, courts are awarding permanent alimony less than less.
If you want to ensure that your spouse is unable to take advantage of you if your marriage fails, you can take steps to implement a prenuptial or postnuptial agreement. Here, you can work with your soon to be spouse or newlywed spouse to determine how alimony will be handled if you decide to part ways. This can save you both a lot of head and heartache if your marriage ultimately ends.
Get Help from a Prenuptial/Postnuptial Agreement Lawyer in Hoover, AL
Although bringing up the idea of a prenuptial or postnuptial agreement may make you cringe, sometimes, it is one of the best things you can do to protect both of you should your marriage ultimately fall apart. When you are ready to start working on your prenuptial or postnuptial agreement, reach out to a respected Hoover, AL prenuptial/postnuptial agreements lawyer at Kirk Drennan Law.
Schedule your initial consultation when you call our office at (205) 803-3500. Or fill out our online contact form, and we will reach out to you to find out more about what you are looking for from your prenuptial or postnuptial agreement.