Do I Need a Prenup?
Prenups aren’t just for stockbrokers and celebrities. Though most marriages are done because of a feeling of needing a legal, and in many cases a religious, permanent bond with our partners, life happens. And in Mississippi, the odds of life happening to your marriage are high, with the state almost 7th highest in the country for divorce rates.
No matter the size of your bank account, a prenuptial agreement is a sound idea for couples to protect their assets down the line—just in case, of course.
What is a prenup?
A prenup is a legal, pre-marriage agreement that largely deals with identifying property and assets a couple separately owns before they enter the legal contract of marriage. Couples agree to prenups to protect themselves financially in case they divorce; your (hypothetical) ex-spouse would have a hard time convincing a judge, for instance, that they deserved 80% of your assets if you’ve already previously agreed you’d split them.
What can a prenup cover?
Prenups primarily cover property and finances, including the accumulation of debt. Prenups can determine for purposes such as alimony the length of the relationship, if couples were involved in long-term partnerships before they officially received a marriage license; the state of Mississippi does not recognize “common law” marriages for couples of any gender combination. You can’t use prenups to determine things like the division of chores or the religion and schooling of children, however.
Who should get a prenup?
Anyone can get a prenup. Everyone probably should. Talking about prenups helps you have one of the first, and certainly not the last, difficult conversations with your partner. It might not be initially romantic, but it’s great practice in discussing values and boundaries. You don’t know if your marriage will work, but you do know what of yours will matter to you and your financial security regardless of the fate of the relationship.
Can I use a prenup to predetermine custody or child support payments?
No. Courts determine custody battles and child support payments based on what’s best for the child at the time of determination.
Who can help me draft a prenup?
Professional legal advice is always useful when it comes to entering legal agreements. Andrew Sorrentino Law is happy to help with all of your pre- and post-nuptial needs.