Television shows, the movies, and media outlets in general often have a lot to say about prenuptial agreements. Prenuptial agreements have a reputation of being used when one partner entering a marriage is in a much better financial situation than their prospective spouse, but prenuptial agreements shouldn't be limited to use by millionaires. There is a great deal more to understanding them than what you may see on your favorite weekly show, and both prenuptial agreements and postnuptial agreements can help provide peace of mind for people of ordinary and modest financial means, too. First and foremost, it is important to remember that prenuptial or postnuptial agreements cannot circumvent the law. In other words, you cannot pack your agreement with terms and conditions that are illegal or violate the public policy of the state. Understanding how to make sure a prenuptial or postnuptial agreement complies with law in Birmingham, Alabama can be difficult.
Prenuptial Agreements in Birmingham, AL
Prenuptial agreements are legally binding agreements between consenting adults prior to a marriage taking place. Generally, these agreements address how property and other assets will be divided in the event of a divorce. Often, couples may try to include terms and conditions regarding custody of children, but it is important to note that even when agreements address this topic, a court will still need to review a custody and visitation arrangement to determine whether or not it is in the best interests of the child regardless of whether or not both parties agreed to the terms and conditions prior to marriage.
In Alabama, a prenuptial agreement is only valid when both parties entering into the agreement have disclosed their specific financial situation. In other words, for a prenuptial agreement to be binding you must inform the other party to the agreement of all of your property and assets so that your partner can make an informed decision as to whether or not the terms and conditions of the agreement are acceptable. To ensure that this has been complied with, it is often a good idea to list all of these assets in the agreement itself to avoid any questions down the line as to whether or not information regarding assets was properly disclosed. Prenuptial agreements are also invalid if they are entered into unwillingly or, in some cases, under extreme pressure.
Birmingham Postnuptial Agreements
The most concrete difference in a postnuptial agreement is that it is a legally binding agreement entered into after a marriage has taken place. In Alabama, a postnuptial agreement is also valid only if the parties entering into the agreement have fully disclosed all property and assets. These types of agreements are far less common, but nevertheless do exist and may be beneficial in certain situations. Two examples of when a postnuptial agreement may come into play include:
- A spouse has been unfaithful or committed some type of other indiscretion where the other spouse agrees to stay in a marriage based on conditions set forth in a postnuptial agreement; or
- One spouse enters into a business agreement with outside partners and the outside partners want to ensure that the business agreement will not be affected by the death or divorce of the spouse involved in the agreement, and require a postnuptial agreement in order to solidify the business transaction.
While these types of occurrences are few and far between, they are becoming more common in today's world. Postnuptial agreements should be handled by an attorney that has experience drafting such agreements so that both parties can feel secure in the validity of the agreement.
If you have questions about prenuptial or postnuptial agreements, or have questions about how such an agreement might affect your decision to pursue divorce, it is important to consult with an attorney that has experience working with these types of agreements that can explain the potential consequences that you may face with or without such an agreement. If you are considering divorce or have questions related to prenuptial and/or postnuptial agreements, contact Eversole Law to schedule a consultation and find out more about the potential outcome of divorce proceedings based on the terms and conditions of any prenuptial or postnuptial agreements that may be involved in the divorce proceedings.