People who call my office ask me quite often whether they should have a Prenuptial Agreement or a “Prenup” in DC
The information below will give you some basics about what is included in a prenuptial agreement.
A Prenuptial Agreement in DC or Premarital Agreement, sometimes called a “Prenup,” is an agreement entered into before you marry.
It is an agreement in which you and your fiancé can set forth what will happen to your separate assets and debts and your joint (marital) assets and debts, in the event your marriage ends, either in divorce or death. It is a contract that cannot be forced upon your future spouse or signed under duress.
Your fiancé must have adequate time to review the agreement and consult a Washington, DC family law attorney to be sure the provisions are understood.
How Much Does a Prenup Cost?
The cost of a Prenup varies based on the types of property you have and how you intend to treat your property during your marriage. It is best to discuss the terms of your Prenuptial Agreement with a DC Prenuptial Agreement lawyer, and then you will be able to get a good estimate of the cost.
A Washington, DC Prenuptial Agreement will list all financial assets and liabilities (debts) that each of you has prior to the marriage.
It will also list all real estate each of you owns and who will have ownership of it once you are married. It will also indicate what will happen to any gains or income generated by your premarital assets and investments. The agreement will usually include a provision as to how debts will be paid. It may also talk about alimony or spousal support in the event of a divorce. In addition, a provision will be included as to what will happen to the marital property or joint property you accumulate during the marriage.
Do You Need an Attorney for a Prenup in DC?
A DC Prenuptial Agreement must be in writing, must be fair, and it is best if it is signed by both parties in front of a Notary. It must be executed voluntarily with both parties having ample time to discuss the provisions and consult legal counsel prior to signing. There must be full disclosure as to the assets and debts each party has prior to signing the agreement.