Do I need a Premarital Agreement?

During a divorce, property will need to be divided between each spouse.  How property is divided is determined by the laws of each state.  One may see issues if the couple holds marital property in more than one state.  This will require a court to determine which property division laws apply to each individual piece of property that the couple owns.

Montana is an equitable distribution state, meaning that a court will divide marital property equitably, which may or may not be 50/50 equally between spouses.

This is where a premarital agreement can become very useful.  This allows a couple to create their own formula for division of assets.  A premarital agreement may also be referred to as a prenuptial agreement, or antenuptial agreement.  These agreements are entered into couples prior to marriage, in anticipation of how property is to be divided if a divorce were to occur.

Premarital agreements are a good idea for couples that wish to provide for children from a prior marriage, or wish to manage their assets separately.  Couples who possess different levels of assets or income or who will be receiving an inheritance after marriage may also wish to use a premarital agreement in order to structure their financial affairs prior to entering into a marriage.
Regardless of the reasoning, a premarital agreement can help decide how property will be split if a divorce were to happen.  Certain requirements need to be met in order for a prenuptial agreement to be considered valid.   It is a good idea to seek an attorney for advice if you wish to have a premarital agreement written.  I can write premarital agreements, as can any lawyer in my firm, and other family law lawyers.

I hear clients say, "But I don't anticipate divorce."  The important thing to remember is that no one anticipates a divorce.  As premarital agreements occur prior to marriage, no one is expecting a divorce before they have even entered into a marriage, or else they wouldn't be getting married.  Unfortunately, we cannot predict the future, and for some people, it is best to protect yourself and your assets just in case.

One should also keep in mind that a court will not always uphold a premarital agreement.  Sometimes, an agreement that violates public policy, such as limiting child support, custody, or visitation rights, may be found invalid.  You also will need to fully disclose your assets to your future spouse.  This is another reason to seek the advice of an attorney.