Quick and Professional Prenuptial Services

How Prenuptial Agreements Help You

Oftentimes, prenuptial agreements come saddled with the stigma of inevitable divorce. Fortunately, there are plenty of great reasons to create a prenuptial agreement, including:

One of the spouses-to-be is markedly wealthier than the other and wishes to protect their assets
One of both spouses-to-be have children to whom they’d like to distribute specific property and/or assets upon death
One or both spouses-to-be own a family business that they’d like to protect from spousal claims in the event of divorce

While there are other reasons couples draft prenuptial agreements, these are typically the most common. In the state of Virginia, the Virginia Premarital Agreement Act outlines all the requirements for drafting a prenuptial agreement, and property is divided according to the principles of equity and fairness. However, this naturally does not mean that property will be divided and distributed equally, which is where a prenuptial agreement could clear up any discrepancies instantly.

Couple Talking to Lawyer — Chesapeake, VA — Peterson Law PLC

Virginia categorizes property as marital property and separate property. Marital property denotes property acquired jointly during the marriage, while separate property refers to property acquired by spouses separately both before or through inheritance. Separate property also includes gifts received by spouses during the marriage, as well as property specifically included or excluded in the prenuptial agreement.

Even though marital property is only subject to equitable distribution in a divorce case, any separate property that increases in value throughout the marriage may be treated a marital asset as well. This is where a prenuptial agreement can help, specifically outlining which property is to be protected from spousal claims.

Virginia prenuptial agreements are also private documents, meaning they will not be on public record for others to see.

How Prenuptial Agreements Are Enforced

Virginia does not require prenuptial agreements to be “fair” or “equitable” for them to be enforced. Both spouses-to-be must make a fair, full disclosure of all their finances and assets, which must be free from fraud and duress. This makes Virginia a state with more flexible prenuptial laws, allowing both spouses-to-be to draft a unique agreement that suits them both individually and as a couple. Keep in mind, though, that both spouses-to-be are advised to seek legal counsel separately before drafting the prenuptial agreement. Moreover, one or both spouses must have “significant nexus” to draft a prenuptial agreement in the Commonwealth of Virginia. Examples of this are being a resident, owning property, or getting married in Virginia.

Peterson Law,PLC Gets It Done

A prenuptial agreement can save you stress and heartache in the event of a divorce. Let Peterson Law, PLC of Chesapeake, VA, handle it for you. We have the courtroom experience and legal knowledge to ensure that you start your marriage off on the right foot and with peace of mind. We proudly serve clients in Chesapeake, Norfolk, and Virginia Beach, VA.

For more information on our prenuptial services, call (757) 410-7903 today.