|
|
|
| Prenuptial and Post nuptial Agreements in Pennsylvania |
By Lisa Marie Vari , Esquire
|
A prenuptial agreement --also referred to as an antenuptial agreement or a premarital agreement --is a contract entered into by a man and woman in anticipation of their marriage. Premarital agreements usually outline the division of assets and debts and form and amount support, if any, that each party will be entitled to in the event of divorce or death. Although prenuptial agreements can be binding on issues of division of property, spousal support and alimony, Pennsylvania law states that prenuptial agreements are not binding on issues of child custody and, on occasion, child support.
Reasons for Prenuptial Agreements
A man or woman who wants a future spouse to sign a prenuptial agreement often has something he or she wants to protect from the Pennsylvania equitable distribution process in the event the marriage fails. One or both potential spouses may want to avoid the risk of a major loss of assets, income, or a family business in the event of a divorce. People marrying for a second or third time also might desire to make sure that certain assets or personal belongings are passed on to the children or grandchildren of prior marriages rather than to a current spouse.
On the other hand, there are times when a prenuptial agreement may not be necessary, but some sound premarital advice from a lawyer could be beneficial to the future spouses. Approximately fifty-five percent of all marriages end in divorce. Marriage is a contract that involves many financial decisions along the way. Our office can help guide you to make sound financial decisions during your marriage contract. Contact us before you tie the knot!
Pennsylvania Postnuptial Agreements
Postnuptial agreements, also known as postmarital agreements, are agreements entered into after a marriage has taken place, but before the parties seek to end their marriage. As with premarital agreements, one or both of the parties usually is seeking to protect assets or income in the event of divorce or death.
Validity of Pennsylvania Prenuptial and Post nuptial Agreements
In Pennsylvania, prenuptial and post nuptial agreements are considered the same as any other contract parties may enter into and, therefore, are presumed to be valid and enforceable. This presumption can be overcome only if clear and convincing evidence is presented by the spouse seeking to set aside the agreement that the agreement was not entered into voluntarily or that there was not a full and fair disclosure of assets and liabilities of each spouse at the time of the agreement and a waiver of the disclosure was not included in the agreement. In fact, prenuptial and post nuptial agreements are valid and enforceable even if one spouse or prospective spouse does not retain an attorney to review the agreement before they sign the agreement.
Marriage Settlement Agreements
Marriage Settlement Agreements (sometimes also called Property Settlement Agreements) are contracts written that resolve by agreement the division of marital assets and marital debts, payment of support, and additional issues that arise during the course of a divorce proceeding. Before either spouse signs a Marriage Settlement Agreement, the Agreement should be reviewed by their own independent attorney. Both spouses should not utilize one attorney to draft a Marriage Settlement Agreement and should not presume that one attorney will look out for both spouses' interests. These agreements, like prenuptial and postnuptial agreements, are considered to be binding upon the spouses except in very rare circumstances and they will be enforced even if one spouse unknowingly signs away rights they would have otherwise been entitled to receive as part of the equitable distribution process.
Disclaimer
The statements in this section are based on Pennsylvania law and have been issued to inform and not advise. The statements are general in nature and individual facts in a given case may alter their application or involve other laws not referred to here.
ABOUT THE AUTHOR
Lisa Marie Vari, has focused her legal efforts in the family law field for over ten years. Attorney Vari handles the most complicated aspects of the firm's divorce,
equitable distribution, support and child custody matters. Ms. Vari is a member of the Allegheny County Bar Association and the Pennsylvania Bar Association,
including the family law sections of both organizations, and the Allegheny County Matrimonial Inns of Court.
|
|
|