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A prenuptial agreement is a valid, customized contract between you and your soon-to-be spouse. It is most commonly used to determine each spouse’s financial rights during the marriage and in the event of a divorce. It is used to allocate specific real estate, personal property, investments, and other assets if a couple divorces. It can also be used to determine property transfers upon your or your spouse’s death.
Prenuptial agreements are essential for individuals with considerable wealth and family businesses. However, it is wrong to think these agreements are only for people with money. A prenuptial agreement is useful for anyone. A prenup is a tool couples can use to set their marriage up for financial success and to avoid arguments over money and property down the road. It is also an important tool many couples use to protect one another from their debt.
If you are curious as to whether a prenuptial agreement is right for you and your fiancé, or if you have other questions about divorce in Pennsylvania, contact a prenup attorney right away.
Call Pittsburgh Divorce & Family Law, LLC at (412) 471-5100 to schedule a case consultation with Pittsburgh family law attorney Anthony Piccirilli.
Many provisions may be included in a prenuptial agreement. Your agreement will be specifically tailored to you and your future spouse’s needs and wishes in regard to how to handle your finances during your marriage and in case of a divorce.
You may include provisions regarding:
You can touch on a wide range of topics in a prenuptial agreement. It can be used to create an equitable financial situation in your marriage, solidify your financial goals, and to ensure one person does not take advantage of the other in a divorce.
However, there are certain things a prenup cannot do. You and your spouse cannot determine child custody through a prenuptial agreement. Custody must be based on the best interests of your children considering the circumstances at the time of the divorce.
Additionally, you and your spouse cannot agree to anything that is illegal or against public policy. If your prenuptial agreement includes something that is unlawful or simply unconscionable, a judge will not uphold it.
If you and your spouse are interested in putting unique or seemingly odd provisions into a prenup, you should each speak with a Pittsburgh Prenup Attorney regarding the validity and enforceability of those provisions.
Prenuptial agreements have myriad benefits for everyone, not just high-net-worth individuals. Some of the benefits of prenuptial agreements include:
Not everyone enters into a marriage with great finances. A Pittsburgh Prenup Attorney can help structure an agreement that addresses these realities. You or your spouse may have a significant amount of debt, such as student loan or credit card debt. You likely do not want to hold off on your marriage because of unruly credit card or student loan payments that will be with you or your spouse for decades. In this situation, a prenup can protect you or your spouse from unhealthy finances. It can ensure that one person’s debt remains their own.
A prenup is also a great way to have honest discussions about money with your partner. Money is often the root of arguments in marriages, and unfortunately, leads to many divorces. By talking with your partner about what you each have, your individual and shared financial goals, and how to best achieve those goals, you begin your marriage with a strong foundation. You can dictate your financial plans in the prenup, making each of you accountable for your goals.
In the event of a divorce, a prenup enables you to avoid a lengthy or contentious court battle. If you and your fiancé(e) decide to divorce in the future, your prenuptial agreement will dictate and guide various terms of the divorce, usually the division of marital property and alimony. You will still have elements of the divorce to discuss, though many of the large issues will be partly or fully resolved.
A prenup can be a smart move for anyone:
A prenuptial agreement is a contract, which means for it to be enforceable, it must adhere to certain legal requirements.
A prenup must:
It is important for a prenup to not be rushed and for each party to have their own legal counsel. If you and your partner are considering a prenup, you should each seek counsel from your own Pittsburgh Prenup Attorney right away. The sooner you begin the process, the better. It gives you time to discuss all of the options together, draft an initial agreement, and have each of your prenup attorneys review the agreement before you sign. The more care you take in the process, the more tailored the contract will be to your situation, and the more likely a court is to enforce it in the future. If you rush through a prenup, sign it the day before the wedding, or one of you does not have independent legal representation, there are bound to be problems with it in the event of a divorce.
An engagement is a wonderful time. You and your partner are likely thrilled to be officially starting your life together, and you may feel discussing a prenup would take away from the romance of the moment or add stress to an already busy time. Those feelings are natural.
Prenuptial discussions should not focus on what may go wrong. Instead, focus on everything you can do to ensure it goes right. Your finances will be a central part of your marriage. There is no way to avoid it. Going into your marriage with a full understanding of your current finances sets you and your partner up for success. If you understand how each of you views money and tends to handle it, then you can avoid countless future arguments.
Yes. Pennsylvania courts recognize prenuptial agreements as enforceable contracts when they meet the core legal requirements: the agreement is in writing, signed by both parties, and based on full and fair disclosure of each party’s finances. Courts may decline to enforce a prenup that was signed under duress or that fails the disclosure requirement, so allowing enough time before the wedding and using independent counsel for each party significantly improves the chances the agreement will hold up.
A spouse can challenge a prenuptial agreement in Pennsylvania, most often during a divorce. Common grounds for a challenge include lack of full financial disclosure, fraud, duress (such as a last-minute signing under pressure right before the wedding), or terms that are unconscionable. A challenge does not automatically void the agreement; the spouse contesting the prenup must prove the legal grounds. Careful drafting and execution that follow PA requirements make a successful challenge much less likely.
Several topics fall outside what a prenup can control in Pennsylvania. Child custody and child support cannot be predetermined, because PA courts decide those issues based on the best interests of the child at the time of the divorce. Provisions that are illegal, contrary to public policy, or unconscionable will not be enforced. Personal lifestyle clauses covering things like household chores, weight, or in-law visits are typically unenforceable even if a couple writes them into the document.
Pennsylvania does not strictly require independent counsel for each party, but having separate lawyers is one of the most important steps you can take to make the agreement enforceable. When each party works with their own attorney, the court has clearer evidence that both signed knowingly and voluntarily. Sharing one lawyer creates a conflict of interest and makes the prenup easier to challenge later. A postnuptial agreement follows the same general principle if a couple decides to formalize an agreement after the wedding.
The cost of a prenuptial agreement varies depending on the complexity of your finances, how much negotiation the agreement requires, and whether business interests, real estate, or significant separate property are involved. Most couples retain separate counsel for each party, which is a separate cost per spouse. To get a clear estimate for your specific situation, contact attorney Anthony Piccirilli at (412) 471-5100 to schedule a consultation.
Whether you are ready to begin drafting a prenup, or you and your fiancé(e) are still debating the merits of one, contact a Pittsburgh Prenup Attorney at Pittsburgh Divorce & Family Law, LLC. During a consultation, attorney Anthony Piccirilli will explain what a prenup can do and how it may benefit your upcoming marriage.
Call us at (412) 471-5100 or use the online form to schedule your initial appointment.