Prenuptial Agreements
A prenuptial agreement is a smart way to protect your personal assets in the event of divorce. While we all enter marriage thinking that our love for the other person will last forever, in reality that simply is not true.
Over half of all marriages end in divorce. Prenuptial agreements provide protection for your separate assets such as a home, investment accounts, businesses, real estate, and other personal property, in the event of divorce. The key to having a successful prenuptial agreement is having an experienced and knowledgeable family law attorney, like the family law attorneys at HNK Family Law, negotiate, draft and execute a prenuptial agreement for you.
Louisiana is a community property state, which means that is the default marital property regime. Under a community property regime, all property acquired during the marriage is community property, meaning each spouse has a one-half interest in that property. Fruits (rent, dividends, interest, trust income) of all separate property (or property acquired before the marriage) also becomes community property under the default regime. That means if a party has significant premarital assets, a prenuptial agreement should be explored as a way to keep your personal assets acquired prior to the marriage from being considered marital or community property. Prenuptial agreements are used to determine the rights of a spouse regarding such assets during the course of the marriage.
Prenups can also be used to limit a spouse’s right to final periodic spousal support or post-divorce alimony. However, prenuptial agreements cannot be used to determine child custody, child support, or other aspects of parental rights and obligations.
Preparing for all contingencies is an important step when creating a shared life with someone. You want to make sure not only the property you bring into the marriage is protected, but it remains with you if you ever decide to divorce.
If you are planning on getting married, protect your future. Contact the family law attorneys at HNK Family Law in New Orleans today.