You Already Have A Premarital Agreement! 

When you marry, even if you do not sign a premarital agreement, you have an agreement. Whether you like it or not, you agree to be bound by all the estate laws, marriage laws, and divorce laws that are in effect at the time an issue may arise. For instance, if your income exceeds your spouse's income, you will likely be required to pay spousal support (alimony) at the time you and your spouse separate. In addition, whatever property is acquired during the marriage may be awarded 100% to your spouse should there be a separation. Many brides and grooms do not consider the fact that the other spouse, under current law, will not be required to support any children of the marriage beyond age 18 or graduation from high school. In other words, if your children should want to go to college, your spouse will not be required to pay one cent to help pay for their college education!

Although avoidance of these laws can be a worthwhile endeaveor, living together without the benefits of marriage is not the best legal alternative. Recent estimates place the number of cohabiting unmarried couples in North Carolina at 144,000. Although living together outside marriage remains a violation of North Carolina law, the law is seldom enforced. Many couples refuse to marry because one party or the other has been burned by a prior divorce where he or she was required to pay alimony or saw the court inequitably divide her or his property.

A much better alternative is to execute a valid premarital agreement before you marry. Couples can then receive the moral, tax and other benefits of their marriage, yet not be subject to the estate, marriage, and divorce laws that can often be harshly applied. Contrary to popular myths, premarital agreements do not jinx a marriage. In fact, a well drafted premarital agreements is more likely to promote marital tranquility as both parties understand her or his rights should there be a separation,  divorce, or death of a spouse. Seeking a divorce for purely financial reasons is no longer a viable option as both parties know exactly what he or she will receive.

Simple premarital agreements can be prepared for a fee as low as $450.00.

Contents of Premarital Agreements:

Parties to a premarital agreement may agree concerning the following:

• Rights and obligations of each party in any property and debt
• Rights to buy, sell, use, transfer, exchange, abandon, lease, consume, expend, assign, create a debt in, mortgage, encumber, dispose of, or otherwise manage and control property
• Rights with respect to equitable distribution of property upon separation, marital dissolution, or death
• Rights to modify or eliminate postseparation support or alimony
• Rights with regard to making a will, trust, or other documents
• Rights concerning ownership rights in and disposition of death benefits from life insurance
• Any other matters, including personal rights and obligations, not in violation of public policy or law imposing a criminal penalty
  

Premarital agreement can promote marital tranquility and avoid costly legal proceedings should a separation or divorce occur.

Call Mr. Kelso for an appointment today.

Phone: 704-865-8684