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Can You Address Alimony in a Prenuptial Agreement?
If you’re planning a wedding, you may wonder whether you must establish a prenuptial agreement. Many couples hesitate to create such an agreement because they believe it signifies trust issues in the relationship. However, this legal contract offers various benefits, including shielding each party’s hard-earned assets in the event of a divorce. If you’re considering establishing a prenuptial agreement, it’s in your best interest to contact a trusted Ocean County Prenuptial Agreement Attorney who can help you determine what it should cover to meet your needs. Please continue reading to learn whether you can address alimony in a prenuptial agreement.
What is a Prenuptial Agreement?
A prenuptial agreement, often called a prenup or premarital agreement, is a written contract that two people create before entering a marriage. This legal document is a valuable financial tool that helps couples safeguard their economic interests and clarify expectations. The future is uncertain. Therefore, taking the necessary precautions to shield your assets should the marriage fail is essential.
Couples are often skeptical when it comes to establishing a prenup because of the negative stigma that surrounds it. However, while it may seem unromantic, drafting and executing this document offers various benefits as it can address many issues.
Can I Include Alimony in a Prenup?
As mentioned above, these agreements can cover various aspects of a marriage. One crucial element is addressing alimony. Alimony, also known as spousal support or maintenance, is ordered when a dependent spouse requires financial support following a divorce. This monetary award is intended to minimize the financial discrepancy that may exist between divorcing parties.
There are several ways you can address alimony in a prenup. However, the best way to address it depends on what makes sense for your situation. One of the most popular ways couples address alimony in a prenup is by waiving their rights. Essentially, this means you would each relinquish your right to request alimony from a court during divorce proceedings in the future.
This is a standard route because couples can waive alimony to receive a more favorable division of marital property or negotiate a lump sum payout. A lump sum clause will equalize the loss of alimony. It allows a dependent spouse to receive a single payment instead of monthly installments in exchange for waiving alimony in a prenup.
Before you decide on whether you should create a prenuptial agreement, it’s advisable to consult an experienced attorney from the Law Office of Sarina Gianna, LLC, who can help you protect your rights. If you are already married, it’s not too late. Our legal team can assist you in executing a postnuptial agreement, the same document as a prenutpial agreement.
