Before a couple officially becomes husband and wife and pronounce the words “till death do us apart” as part of their marriage vows, it is not uncommon for them to execute a prenuptial agreement. A prenuptial agreement is a contract negotiated by the couple regarding the ownership and division of certain present and future assets should their marriage fail. Although it may appear that a prenuptial agreement plans for a marriage to end, there are several reasons why it is in the couple’s best interest to carry out prior to saying the words “I do.”

Why Sign a Prenuptial Agreement?

According to the American Psychological Association, between 40% and 50% of marriages in the United States end in divorce. From a young age, children are taught that love can conquer all. However, the stark reality is that this is not always true. Going through a divorce can be a very harrowing experience and result in a lot of emotional turmoil for a couple, especially when it comes to the division of assets and determining who is entitled to property in the aftermath.

Indiana is a state that follows equitable distribution laws. If the couple decides to divorce, the property is divided in a fair and equitable manner. Although the marital property will generally be split half and half, the court will also look at various factors to determine how much of the property and assets each spouse should receive. To avoid any uncertainties, a prenuptial agreement can spell out these terms in the onset of the marriage so that if a couple does decide to dissolve their marriage, they can do so with minimal conflict.

Benefits of Prenuptial Agreements

A common misconception is that prenuptial agreements are more favorable towards one spouse’s interests. Although this can be true, a well-drafted prenuptial agreement can actually benefit both spouses. Some of the advantages of a prenuptial agreement are as follows:

·      Protects the interests of children from a prior marriage;

·      Protects property that was acquired prior to marriage;

·      Supports an estate plan;

·      Distinguishes marital property; and

·      Protect a spouse from the other spouse’s debts.

Additionally, prenuptial agreements do not only serve high net worth spouses with wealthy estates. They can also be appropriate in situations where a spouse does not make over seven figures. For example, a couple may want to draft a prenuptial agreement prior to entering into their second marriage.

Contact an Indiana Family Law Attorney

Although there are many benefits to a mutually agreed upon prenuptial agreement, there are some terms that if included may invalidate the entire agreement. In general, any agreement that requires a person to participate in illegal activity or engage in conduct against public policy will be unenforceable. Additionally, any clauses restricting child support, visitation rights or custody will generally not be enforced. Courts also frown upon any agreement that encourages divorce.

If you are contemplating divorce and are unsure if you have a valid prenuptial agreement, you should consult an experienced Indiana divorce attorney who can help represent your legal rights.