The emotional impact of a divorce can be substantial, and the legal ramifications can be even more devastating. Especially in situations where one party to a marriage brings greater assets to the couple, a divorce can leave both with concerns over their finances and property.
A DC prenuptial agreements lawyer can work to prevent your worry and potential financial devastation. People who are marrying always have the option of entering into a prenuptial agreement. These contracts dictate each party’s financial health and future if the marriage ends in a divorce, so it is best to enlist the help of a marital agreements attorney early in the drafting stages. Prenuptial or premarital agreements are therefore a great way to secure your future with minimal risk and with drastically less expense.
Potential Effects of a Divorce on a Person’s Assets
Bank accounts, businesses, and real estate can all be subject to property distribution during a divorce. In fact, the Code of the District of Columbia §16-910 requires courts to make an equitable distribution of all marital property during a divorce. Equitable does not necessarily mean fair, nor does it mean equal.
For example, equitable distribution of a marital home when the parties cannot agree who will remain living in the home may necessitate the forced sale of the real estate, the liquidation of a business, or an order for one spouse to pay alimony to the other. A DC prenup contracts attorney can provide more information concerning the legal effects of a divorce.
How a Prenuptial Agreement Can Help to Limit the Damage
Divorces can be unpredictable. After all, it is rare that couples marry in anticipation of divorce or that a marriage ends in divorce as an expected result, and yet it is so common. With the right help, you can protect yourself and your future from a potentially financially damaging separation or divorce.
Laws in Washington DC recognize the legal effects of prenuptial agreements on the property distribution aspects of a divorce. If the two parties create a valid contract before marrying that clearly delineates the rights of each party to the property at the time of marriage, that contract is legally binding in the event of a future divorce.
While prenuptial agreements have a reputation as being cold-hearted or pessimistic, they are a solid option for people who wish to clearly state their rights and what will happen if the marriage should end with a divorce. Additionally, if the marriage does not end in divorce, the agreement has no legal effect. As a result, entering into a prenuptial agreement is a risk-free way for people who are about to get married and want to protect their financial futures. A premarital agreements lawyer in Washington DC can help to draft and execute these documents to meet your goals and specifications.
Let a DC Prenuptial Agreements Attorney Provide Assistance
People who are making the important decision of getting married should be optimistic about the future. A prenuptial or premarital agreement can help keep you optimistic because you will have the security of protecting your financial future. While no one likes to think about the possibility of a divorce, it is essential to know and understand your rights.
For people who are bringing substantial assets to the marriage, it is vital to protect those property rights. Any interaction between a spouse and that property can blur the lines of ownership, and courts have broad powers to distribute that property as they see fit. Entering into a prenuptial agreement can take that decision out of a judge’s hands and provide predictability for the future.
A DC prenuptial agreements lawyer can help to explain the role of prenuptial agreements. They can meet with you to identify your goals and to take the necessary steps to protect your future. Contact out office today to learn more.