Now I’m not saying she’s a gold digger… no really, I’m not. I just think it’s prudent to discuss a Prenup. It is a common thought that Prenuptial Agreements are a sign of distrust, not love, and that they are only for movie stars or people of high wealth. These are common misconceptions that everyone has about Prenuptial Agreements. In retrospect, drafting a Prenup together is a sign of incredible trust and financial openness. In many cases, a Prenup can increase marital happiness by providing security in both marriage and divorce.
So, you may be asking what exactly is a Prenup. In short, it is a contract between two individuals who plan to get married. It outlines marital rights along with the division of assets upon death or divorce. It does not, however, take effect until the couple marries.
A Prenup in North Carolina can cover a broad range of areas that defines the rights and obligations during the marriage and upon divorce. This includes the right to spousal support, property ownership (in North Carolina, any property acquired by a couple during the marriage becomes jointly owned, and is subject to division upon divorce), debt repayment and so forth. There are some limitations, specifically, a Prenup cannot extinguish either spouse’s premarital debt nor can it infringe on the rights of the couple’s current or future children.
North Carolina follows the Uniform Prenuptial Agreement Act (UPAA), which establishes a set of requirements for prenuptial agreements. Most importantly, the Prenup must be in writing and signed by both of the soon to be spouses. A Prenup does not take effect until the couple is married. However, the couple can make changes to the agreement even after the big day. North Carolina merely requires that the amendment be in writing and signed by both parties.
Prenuptial agreements are very complex. It is vital that you consult an attorney before agreeing to anything, especially since it can affect your rights during the marriage and long after the divorce. Before signing a Prenup or if you have any questions regarding a Prenup, contact Capital to Coast NC Law Group today!