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Getting married? Do you need a prenuptial agreement?

Marie Hillman • Aug 17, 2015

  A matrimonial agreement, what is typically referred to as a prenuptial agreement or prenup, is a contract establishing a regime of separation of property or […] The post Getting married? Do you need a prenuptial agreement? appeared first on Hillman Law Firm.

 

A matrimonial agreement, what is typically referred to as a prenuptial agreement or prenup, is a contract establishing a regime of separation of property or modifying or terminating the legal regime. In Louisiana spouses are governed by the legal regime of community property, and if the couple divorces, their property is distributed accordingly. Couples in Louisiana can opt of the community property regime by signing a matrimonial agreement. The couple’s own agreement will then determine how assets are classified.

Not everyone really needs a prenuptial, however, those who are entering a second marriage should definitely consider one to be sure their children’s rights are protected and clear. Also, those who are involved in a family owned businesses or are marrying someone with significantly less wealth may consider a prenuptial agreement.

Spouses may enter into a prenuptial agreement regarding any issues that are not covered by law, but usually the agreement covers things such as:

– each spouse’s rights to property owned by each of them, and jointly as a couple

– what happens to the appreciation in value of separate assets

– how assets and debts are divided if the couple divorces or one spouse dies

– whether one spouse will pay the other alimony, and if so, the amount and duration

– whether a spouse must reimburse the other for certain amounts spent during the marriage

– how the spouses will pay expenses during the marriage, and

– whether the terms of the agreement take effect upon divorce, death, or some other event.

If you think that you may need a prenuptial agreement, contact us and set up a consultation. We will go over the law and your situation and come up with a plan. Please call several months ahead of the wedding date!! This is NOT something you want to be addressing in the weeks or days before your wedding!!

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