Prenuptial Agreement Lawyer Philadelphia, PA

Prenuptial Agreement Lawyer Philadelphia, PA

When you are considering getting married, you should speak with a prenuptial agreement lawyer in Philadelphia, PA from Klenk Law. Getting remarried? Then you know from experience that a prenuptial agreement is a must.

Getting married or remarried is both an exciting and potentially stressful life event. On the one hand, you are embracing the process of becoming your romantic partner’s spouse. On the other hand, life has taught you marriage is both complex and challenging. The relationship can bring something new daily. This wisdom can serve you well as you transition into your new marriage. But it can also make you understandably wary of some elements of your new partnership.

Please know that this multi-layered emotional response to the process of getting remarried is both reasonable and wholly understandable. Speaking with a Philadelphia, PA prenuptial agreement lawyer about the legal side of getting remarried will ease the more challenging aspects of your transition. Being armed with information about your various legal options and opportunities helps. Make the best possible decisions for you and your family moving forward.

Legal Considerations Before Remarriage

For more detailed information, see my Article, Prenuptial Agreements: Everything You Need To Know.

Prepare for your consultation by making a list of all of your concerns about your future union. Your worries do not need to be legal matters. Sometimes, there are legal solutions to issues that do not first appear to be legally-related at all. Only by voicing your concerns to a Philadelphia, PA prenuptial agreement lawyer can you become truly informed about all the options available to you. Speaking with an attorney does not obligate any course of action. But in speaking with an attorney, you will be better able to determine whether you want to act on any available options. Informed decisions tend to be more grounded and tend to lead to a lesser chance of regret later on.

One of the options your Philadelphia, Pennsylvania prenuptial agreement lawyer may discuss with you is a prenuptial agreement. These legal tools are not “divorce insurances.” Indeed, even recently, this was the prenuptial agreement perception. Nowadays, couples use these tools when they intend to stay together forever. The prenup serves as a way to “iron out” expectations, goals, and priorities. Having these conversations before the marriage helps you feel confident both partners are on the same page. By working through these issues in advance, couples have fewer reasons to fight later in their relationship.

Legal Guidance Is Available

Do you have questions about your legal rights, responsibilities, and opportunities related to remarriage? Please consider scheduling a consultation with an experienced Philadelphia, Pennsylvania prenuptial agreement lawyer. Depending on your unique circumstances, you may significantly benefit from exploring certain legal rights.  Don’t miss out on available opportunities. You may also benefit from drafting certain protections. These protections exist to ensure that others respect your wishes related to property, medical care, and other essentials. Further, it is wise to select who will legally enforce your preferences.

Work with Klenk Law so we can help manage the legal side of things.  One big thing off your plate! We can allow you the peace of mind to enjoy this joyous life transition more fully.

As noted above, choosing to sign a prenuptial agreement does not have to mean that you and your spouse are planning on a divorce. In fact, many people create prenuptial agreements and never have to look back at them again during their married life. However, even if you do not end up using a prenup for divorce it can still allow you and your partner to review very important information that you should be discussing before and after you decide to tie the knot. Our attorneys know that discussing a prenup can be hard, but especially if your marriage has taken a turn for the worse, you will be happy to have a prenuptial agreement in place. Below, you’ll see our top reasons for signing a prenup agreement with your partner. 

• You Earn More. Or vice-versa. Whatever the case is, signing a prenuptial agreement to protect finances is a wise decision. If you make significantly more than your spouse, you can sign a prenup agreement that protects certain assets and finances so that you do not have to worry about hemorrhaging money if a divorce happens. Additionally, if you are on the other end of that and your spouse makes more, signing a prenup agreement can ensure that you can still be supported in the future. This kind of agreement early on can help you and your partner determine what seems fair and establish rules if a marriage does go sour. 

• You Have More Assets. Similarly, you may have inherited many assets from a wealthy family member or you may have saved certain assets that you would wish to keep should your marriage come to an end. Depending on the situation, you may be able to keep what was yours before you got married but this is not something you should count on. If you want to ensure you can have your assets after a divorce, a prenuptial agreement is the place to write that down. 

• You or Your Partner Has Debt. Dragging a partner down in debt can be a hassle. If you go through a divorce and find that your partner is in more debt than you knew about and you may be on the line, this could ruin your financial situation as well. You want to clearly outline what happens to each spouse’s debt in your prenuptial agreement so that you can be protected from the extra debt you did not incur. 

• You Have Opinions on Raising Your Kids. Everybody does. Finances play a huge role in how kids are raised and when one spouse contributed more financially and the other was relied on more to raise children, a prenuptial agreement is a safe place to discuss child support and how the spouse who earns more can contribute financially to child support payments.  

Determining Whether or Not You Need a Prenuptial Agreement Lawyer in Philadelphia, PA

For some people in Philadelphia, PA, hiring a prenuptial agreement lawyer is an essential step before marriage. Prenups safeguard their future. Though not everyone needs to have a prenup in place, it’s often beneficial. Wealthy people are not the only people benefiting from these agreements. Because Pennsylvania is not a community property state, if a marriage ends, the judge equally divides marital assets. In other words, any property owned by an individual before entering into marriage will remain theirs after the divorce, provided you hold it separately and keep it isolated. Over the long run, this can be difficult. An agreement binding the couple avoids conflicts. In the absence of a prenup, the court will likely uphold the following:

• Adding the other spouse’s name as an owner to the property will make it joint property and distributed as such after the marriage is over.
• If property or assets are gifted from one spouse to the other during the marriage, it makes it the recipient’s and distributed as such after the marriage is over.
• Income, property, and other assets accrued by one or both spouses during the marriage will become a joint property and distributed as such after the marriage is over.
• Assets inherited by one spouse before entering the marriage will remain the property of that spouse unless you add the other spouse as an owner to that property.

Should you not wish any of the above to occur in a divorce agreement, a prenuptial agreement is essential. With the help of a Philadelphia, PA prenuptial agreement lawyer, you can get the result you wish. Another advantage of having a prenup in place is that it may prevent you from later having to pay alimony or spousal support. That could represent significant savings for you.

Come to an Agreement with Your Future Spouse Regarding the Prenup

Preventative measures in your prenup can avoid litigation in the aftermath of filing for divorce. Specifically, talk to your fiancé about the terms of the prenup agreement you wish to create. Don’t have ugly surprises when they read the first draft. Secondly, having your future spouse hire a lawyer is useful. If their lawyer reviews the prenup’s terms before agreeing to it, it will be more difficult for them to contest it in court in the future. After their legal counsel reviews the prenup and makes suggestions, you and your prenuptial agreement lawyer in Philadelphia, PA, can work out the final version.

Pre- and Post Nuptial Agreement, Philadelphia, PA

In general, the purpose of a pre- and postnuptial agreement is to ensure specific property remains as separate property. 

Although prenuptial agreements tend to be more protective, it is possible to draft a postnuptial agreement that is also beneficial for a spouse or the relationship as a whole.

A Prenuptial Agreement Lawyer in Philadelphia Discusses the Law

Pennsylvania is an Equitable Distribution State. Under this law, generally, marital property is divided between the parties. For example, the system strives to fairly or equally divide any assets that have been jointly acquired by each spouse, joint property, joint bank accounts, houses, and so forth. 

Non-marital includes property and assets acquired before the marriage, and has not become a marital party. These can become unintentionally marital assets. An example of when this happens maybe when one spouse had a bank account, but then gave their spouse access to it. In this case, the court may deem the bank account a marital party. Avoid this trap with a pre- or postnuptial agreement.

By law, spouses can draft an agreement that can:

• Identify separate property
• Identify how to divide separate assets
• Partition marital property
• Engage in other particular financial matters

A Prenuptial Agreement – The agreement is executed before the marriage and becomes effective as soon as the marriage is official. 

A Postnuptial Agreement – Executed after the marriage, this agreement does nearly the same thing. 

It is certainly possible for a spouse to challenge the document’s validity. Frequently, an attorney brings the challenge. Furthermore, it is not advisable to draft your pre- or post-nuptial agreement. Failure to include specific information, wording, or even punctuation opens the door to later challenges or expensive litigation.

Times to Consider a Pre- and Post Nuptial Agreement Philadelphia

These agreements are not always right for a couple. In general, a prenuptial agreement may be beneficial when:

• There exists a significant disparity between one another’s assets, debts, or income;
• One spouse will be delegating most of his or her time to children and the household;
• Either spouse will be supporting the other spouse;
• Only one spouse owns a business;
• One spouse has an estate or trust tied to an inheritance or family business.

A postnuptial agreement may be ideal when:

One spouse has a spending problem;

• Each spouse would like to identify gifts from one another specifically;
• Each spouse would like to identify separate assets;
• Both have determined, in advance, how to divide their assets in the event of a death or divorce.

A Prenuptial Agreement Lawyer Philadelphia, PA Residents Turn to with Confidence

A prenuptial agreement protects your best interests by making it clear beforehand what terms both spouses can expect should the marriage fail. Preparation can alleviate fears and anxiety before the nuptials, and reduce stress and angst if the marriage falls on hard times. Klenk Law Firm can assist you. Call us today to learn more from our prenuptial agreement lawyer Philadelphia, PA couples recommend about how we can make a difference.