On behalf of Stange Law Firm, PC posted in divorce on Wednesday, September 21, 2016.
The ending of a marriage has the potential to be both unpredictable and traumatic. In the event that a marriage in Missouri terminates in divorce, the property of both individuals will be classified as either marital or personal. The marital property will be divided between the two departing spouses in a complex series of legal actions. If alimony is considered, one spouse could suffer extreme economic losses. That’s why many individuals who are entering marriage are deciding to protect themselves via a prenuptial agreement.
Although prenuptial agreements have an unsavory reputation for some, others see them as a way to eliminate any pretense of bad motives. Improper distribution of property during a divorce has a tendency to occur during what is an emotional time. Therefore, it can provide peace of mind to put some thought into possible worse-case scenarios.
A prenuptial agreement is a simple binding document that usually covers issues including alimony and property distribution. It will usually be clear in its demarcation between personal and marital property. This can make fair distribution of marital assets simpler and less taxing for all parties involved. Without a prenuptial agreement, property and asset division could come down to a judge’s decision.
An attorney may be of assistance in drawing up such a document. The lawyer can help to ensure that the agreement is acceptable to all parties as well as being compliant with all local, state and federal laws. If a couple has gotten married without a prenup, an attorney could help draw up a postnuptial agreement.