Springdale, AR Prenuptial Agreement Lawyer
There is often a stigma around the use of prenuptial agreements by a couple that is considering marriage. Some may consider the use of a prenuptial agreement as a sign that the marriage is expected to fail. However, there are a number of benefits for spouses to consider a prenuptial agreement prior to marriage. If you and your partner are exploring the benefits of drafting a prenuptial agreement, you should consult with an experienced Springdale prenuptial agreement lawyer as soon as possible.
At Gunn Kieklak Dennis, LLP, we understand that marriage is a life-changing step for a couple, and we are here to provide you with the legal presentation that you deserve. The family law attorneys at our firm possess decades of legal experience, and we would be pleased to use this knowledge to address your legal needs. To schedule a confidential consultation to discuss your case, contact Gunn Kieklak Dennis, LLP at (479) 717-9068. You may also use our online submission form to contact the firm.
How a Prenuptial Agreement Works in Springdale, AR
A prenuptial agreement is a contract signed by two people who intend to be married in the near future. The contract primarily handles financial issues that may arise between spouses if they decide to divorce. Specifically, a prenuptial agreement can handle issues like the division of property, marital debt, and even financial support for a spouse or child. There are also other uses for prenuptial agreements:
- Protecting assets that were owned prior to being married
- Protecting inheritance for children from a prior relationship or marriage
- Ensuring the protection of pre-marital business interests
- Selecting a choice of law for the adjudication of the agreement
This is not an exhaustive list. Arkansas also permits spouses to draft a prenuptial agreement that deals with issues that are not specifically related to the marriage. However, the terms of a prenuptial agreement cannot be used to form an illegal contract.
There is often a misconception that a prenuptial agreement can only serve the interests of spouses that possess a vast amount of wealth. However, a prenuptial agreement can make life easier for spouses in various tax brackets. For example, if spouses are divorced without a prenuptial agreement, they may disagree about who is permitted to retain certain property. As a result, spouses may become embroiled in a lengthy and expensive legal battle. A prenuptial agreement can make it significantly easier for spouses to distribute pre-marital and marital property.
To learn more about drafting a prenuptial agreement in Arkansas, you should continue reading and speak with an experienced Springdale prenuptial agreement attorney.
Requirements for Drafting a Prenuptial Agreement in Springdale, AR
It is possible for spouses to draft their own prenuptial agreement to sign and notarize prior to a marriage. However, Arkansas has various laws that dictate how prenuptial agreements must be drafted. If spouses fail to draft their prenuptial agreement according to these standards, the agreement could be invalidated and cause a number of legal issues for each spouse. Our firm can help you execute a valid prenuptial agreement in accordance with the needs of each spouse.
One of the most important factors that should be considered when drafting a prenuptial agreement is whether the agreement does not contain illegal provisions. For example, if the agreement is used to dictate the amount of child support that a former spouse can receive after divorce, this would invalidate a prenuptial agreement. Our firm will work tirelessly to help you draft a will that operates within the laws of the State of Arkansas.
Another factor that should be considered is whether the prenuptial agreement was unconscionable. An unconscionable contract refers to a situation where only one party has the ability to bargain. For example, if only one spouse has vast financial assets and they proceed to set all the terms of the prenuptial agreement, this could be considered an unconscionable contract.
To ensure that a prenuptial agreement is fair, each spouse must disclose all of their assets and debts. If one or both spouses decides to hide assets from each other, the agreement cannot be valid as all assets were not considered when executing the agreement.
Like every written contract, a prenuptial agreement must be signed by each spouse in order for it to be valid. If only one spouse signs the agreement while the other orally agrees, the spouse that signed will be unable to enforce the agreement against the other spouse.
Over the course of a marriage, the financial needs of each spouse may change. Fortunately, it is possible for spouses to alter their prenuptial agreement. However, before the agreement can be amended, each spouse must provide their consent to alter the terms of the agreement. It is also possible for spouses to completely revoke a prenuptial agreement upon the consent of each spouse.
Our Springdale, AR firm understands the many ways that a prenuptial agreement can benefit a couple, and we are here to help you weigh your options when considering a prenuptial agreement.
Work with Our Experienced Springdale, AR Prenuptial Agreement Attorney Today
If you and your future spouse are interested in filing a prenuptial agreement, you should contact an experienced Springdale prenuptial agreement attorney today. At Gunn Kieklak Dennis, LLP, we can help you draft a prenuptial agreement that meets the unique needs of you and your spouse. To schedule your confidential consultation to discuss a prenuptial agreement, contact Gunn Kieklak Dennis, LLP at (479) 717-9068. You can also contact the firm online.