In Montana, a prenuptial agreement is a good way for an engaged couple to protect their assets prior to marriage and long before divorce is even a consideration. And these agreements are not something that only the wealthy should consider. Prenuptial agreements can be beneficial to couples considering a second marriage, particularly when children are involved, and in cases where there is disparate wealth. Also, it may be a good idea to consider one where wealth is just a possibility.
A prenuptial agreement is a contract made by two prospective spouses before entering into marriage. The agreement describes how property and assets will be divided in the event of divorce or death, but it can also address other issues. For example, a prenuptial agreement might outline how property will be acquired during the marriage; how it be will be classified for equitable distribution purposes in the event of divorce; how the parties’ estates will be handled if the marriage ends by death, and whether maintenance (also known as alimony) will be paid if the marriage ends in divorce.
In order to ensure that your prenuptial agreement will be upheld in court if challenged, both parties should each seek legal representation. One attorney cannot represent you both. An experienced matrimonial lawyer will be able guarantee that the agreement is properly executed. If your future spouse is also represented, you will have some assurance against future claims that the agreement was a result of fraud, undue influence, coercion or duress.
Finally, be sure to discuss the prenuptial agreement as soon as possible. You should plan on having the agreement signed and in place well before the wedding. Your marriage ceremony is for celebrating, not worrying over legal documents.