Prenuptial agreements are governed by the Uniform Premarital Agreement Act, Chapter 52B of the North Carolina General Statutes. To be valid, a premarital agreement must be in writing and signed by both parties (the engaged couple).
A prenuptial agreement can determine how property or assets will divided should the parties divorce or should one of the parties die during the marriage. The agreement can also waive alimony and support. A well written and properly executed prenuptial agreement can provide comfort and protection for both spouses.
Do you want your prenuptial agreement to hold up in court? If so,
1. You have to disclose all of your finances. If you hid assets and your spouse finds out about it your prenup could get tossed out by the court.
2. You need to avoid coercion, distress and undue influence. The best way to do this is plan ahead. Sign the agreement at least 30 days before the wedding. Each of you should have your own attorney.
3. Be fair. Deal fairly with your fiance in determining how much support he or she will receive if the marriage ends. Provide for your spouse if you should die during the marriage.
4. Don’t commingle assets after you are married. It makes it very difficult to determine what you had prior to the marriage.
5. Remember that you may need a postnuptial agreement to protect some types of retirement plans. Be sure to ask your attorney if further agreements will need to be made in the future and discuss those with your fiance in advance.
Want to learn more about protecting your assets with a prenuptial agreement? Contact the McIlveen Family Law Firm and we can walk you through the law.