Antenuptial Agreements (also known as Prenuptial Agreements)

An antenuptial agreement, or prenuptial agreement as it is commonly known, is a contract that two people of legal age enter into prior to marriage.  Prenuptial agreements allow couples to decide how their property, finances, and family issues will be handled in the case of divorce or death. Gislason & Hunter attorneys are experienced in negotiating and drafting these important documents.

What does a prenuptial agreement do?

Some basic purposes of a prenuptial agreement are to protect particular assets from property division and to reduce uncertainty and disputes upon death or divorce. In the event that a marriage ends due to the death of one spouse, a prenuptial agreement can assist the parties in deciding how to dispose of their property upon death. Other common uses for a prenuptial agreement include allowing each spouse to have input with regard to each other's plan, to preserve control of family assets, and to allow a party with children from a prior relationship to protect his or her assets for those children and their descendants.

Why is it wise to consider a prenuptial agreement?

Marriage is a contract.  By entering into marriage, each individual essentially gives up their independent rights to assets and income acquired during the marriage.  Without a prenuptial agreement, most, if not all, assets acquired during the marriage are property of the couple, not the individuals.  If a divorce occurs, this property will need to be divided or distributed, and that decision is typically a cause for argument. If a death occurs, and when coupled with a solid estate plan, a prenuptial agreement gives couples the power to specify how property should be divided or distributed.

Do I need a prenuptial agreement?

It is wise for every couple to discuss the use of a prenuptial agreement.  Even young couples with more debt than assets may ultimately find that the execution of a prenuptial agreement was a good choice.

Can I just draft my own prenuptial agreement?

We recommend that you contact a family law or estate planning attorney at Gislason & Hunter LLP if you are planning to be married and are interested in discussing the use of a prenuptial agreement.  There are very specific statutory requirements for the content and execution of a prenuptial agreement.  An attorney can assist with ensuring compliance with those statutory requirements.