Prenuptial and Postnuptial Agreements
Despite what many couples think, a prenuptial agreement may actually be beneficial to your marriage because it settles financial concerns at the beginning and may prevent problems later. Similarly, postnuptial agreements may help reduce financial insecurities so that you can continue with your marriage while having the utmost clarity about the future. At the Hancock Law Firm, our Jackson family law lawyers can guide people in the Madison, Rankin, and Hinds County Area through the process of crafting these types of agreements.Devising a Prenuptial or Postnuptial Agreement
While prenuptial and postnuptial agreements may be useful for any couple, they may be especially helpful in situations in which one party has children from a previous marriage and wants to make sure that their inheritance will be handled properly, when one party has high-value assets like real estate, inheritance, retirement accounts, or a business, or when one party is bringing substantial debt into a marriage.
A prenuptial agreement is a document that is signed prior to the marriage. It sets forth the terms of what will happen if the marriage dissolves because of death or divorce. For the prenuptial agreement to go into effect, the couple must actually get married. A postnuptial agreement is a document that is signed after the marriage. Under Mississippi law, courts are not bound by postnuptial agreements when it comes to matters of child custody or child support. Any determinations regarding children are always made based on what is considered to be in the child’s best interest.
Both prenuptial and postnuptial agreements may address a wide range of issues, including:
- Asset division at the time of death or divorce;
- Whether gifts and inheritance assets will count as marital or non-marital property;
- Protection of legacies for children from prior marriages;
- Whether one spouse will provide alimony to the other, as well as how much and for how long;
- Each spouse’s entitlement to receive death benefits from the other’s insurance policy; and
- Any other matter upon which the couple agrees.
Unlike many other states, Mississippi does not follow the Uniform Prenuptial Agreement Act (UPAA). Instead, both prenuptial and postnuptial agreements are treated like any other contracts in the state. Since basic contract rules apply, these documents are enforceable in court as long as both spouses were of legal age and sound mind when they entered into the agreement. Of course, the documents may be void if they were entered into under duress or if one spouse lacked the mental capacity to fully understand the terms of the agreement.Contact a Jackson Lawyer to Discuss a Family Law Matter
At the Hancock Law Firm, our Jackson family law attorneys have the skill, dedication, and knowledge to handle a prenuptial or postnuptial agreement. Since these documents may significantly affect your rights in a divorce, it is important to consult an attorney if you are contemplating them. We are dedicated to providing reliable and comprehensive representation to clients at every step of the way. Our divorce attorneys represent people in Madison, Ridgeland, Clinton, Flowood, Brandon, Flora, Yazoo City, Carthage, Vicksburg, and the surrounding communities. Call us at 601-853-2223 or contact us online today to schedule a consultation.