Prenuptial Agreements Attorneys in Boise & Meridian, Idaho
Marriage is a wonderful part of life. It requires a great deal of preparation leading up to the big day. Unfortunately, legal issues often get overlooked amid the hustle and bustle of wedding preparations. In particular, prenuptial agreements may not get the attention they deserve.
At the Shep Law Group, our family law attorneys have the knowledge and resources to help clients in Boise and Meridian, Idaho, get the legal counsel they need regarding various family law issues, including prenuptial agreements. We proudly serve communities in neighboring Ada and Canyon Counties and throughout the state of Idaho.
Prenuptial Agreements in Idaho
In 2019, there were over 2 million marriages in the US. Additionally, there were a little under 750,000 divorces. As a result, prenuptial agreements have become a new type of insurance in America.
A prenuptial agreement is a legal contract between two individuals planning to marry. This agreement outlines how the couple’s assets will be divided in the event of a divorce or separation.
It is common for couples to ask, “What should a prenuptial agreement cover?” A prenuptial agreement should cover the following:
Division of property. A prenuptial agreement can specify how property acquired during the marriage will be divided in the event of a divorce. This condition can include real estate, investments, and other assets.
Spousal support. A prenuptial agreement can address the issue of spousal support (also known as alimony) in the event of a divorce. This consideration can include the amount and duration of support payments, as well as any conditions for terminating or modifying the support obligation.
Debts. A prenuptial agreement can specify which spouse will be responsible for certain debts in the event of a divorce, such as credit card debt or mortgage payments.
Inheritance. A prenuptial agreement can address the issue of inheritance in the event of a divorce or the death of one spouse. This measure can ensure that children from a previous relationship receive their rightful inheritance.
Business interests. If one or both spouses own a business, a prenuptial agreement can specify how the business will be valued and divided in the event of a divorce.
It’s important to note that a prenuptial agreement in Idaho cannot include child custody or child support provisions. A court decides these matters based on the best interests of the child.
Please note that prenuptial agreements can be modified in Idaho. Still, the process for doing so depends on the specific terms of the agreement and the circumstances of the parties involved.
If both parties agree to modify the terms of the prenuptial agreement, they can do so by signing a written agreement that outlines the new terms. Both parties must sign the agreement voluntarily and without coercion.
If only one party wishes to modify the prenuptial agreement, they may need to seek a court order. This condition typically requires the party seeking the modification to show a significant change in circumstances since the agreement was signed. Examples of such changes may include the birth of a child, a significant increase or decrease in income, or a change in the parties’ marital status.
Who Should Get a Prenuptial Agreement?
For people wondering, “Who should sign a prenuptial agreement?” Consider the following situations:
Individuals with Significant Assets
For individuals with substantial assets, such as property, investments, or a business, a prenuptial agreement can help protect these assets in the event of a divorce.
Individuals with Children from Previous Relationships
For people who have children from a previous marriage or relationship, a prenuptial agreement can help protect their children’s inheritance.
Individuals with High Earning Potential
For individuals with a high earning potential, a prenuptial agreement can help protect their future income in divorce.
Individuals Who Want to Protect Their Privacy
For those who prefer to keep their finances and assets private, a prenuptial agreement can help ensure that your financial information does not become public record during a divorce.
Why Are Prenuptial Agreements Important?
It is important to note that prenuptial agreements are not always necessary or appropriate for every couple. However, for some individuals, a prenuptial agreement can be an important tool for protecting their interests and planning for the future.
A prenuptial agreement can help protect assets, such as property, investments, or a business, in the event of a divorce. This measure can be particularly important when a person has significant assets or enters a second marriage.
Clarifying Financial Responsibilities
A prenuptial agreement can help clarify financial responsibilities and expectations during the marriage, which can help prevent disputes and misunderstandings down the road.
A well-crafted prenuptial agreement can help minimize the need for litigation in the event of a divorce, saving time and money.
When there are children from a previous relationship, a prenuptial agreement can help ensure that the children’s inheritance is protected and that they are provided for in the event of a divorce.
Providing Peace of Mind
Knowing that assets and finances are protected can provide peace of mind and allow people to focus on building strong and healthy relationships with their spouses.
Ensuring a Prenuptial Agreements Is Enforceable
People considering a prenuptial agreement in Idaho should work with an experienced family law attorney to ensure that the agreement meets all necessary legal requirements and is enforceable during a divorce.
The following considerations are important in making a prenuptial agreement enforceable in Idaho:
Ensure that the agreement is in writing.
Ensure that both parties sign the agreement voluntarily and without coercion.
Ensure that both parties fully disclose all assets and debts.
Ensure that the agreement is fair and reasonable.
Avoid provisions related to child custody or child support.
Ensure that both parties have had the opportunity to consult with an attorney.
Prenuptial Agreements Attorneys Serving
Boise & Meridian, Idaho
At the Shep Law Group, we strive to help our clients protect the people they love. That is why we provide professional legal counsel as couples prepare for marriage. Contact our team today to protect your assets and loved ones. We proudly serve clients in Boise, Meridian, Ada, and Canyon Counties, Idaho.