How To Get a Prenuptial Agreement in Pennsylvania
Once you get engaged, there are a lot of things you need to talk about with your partner to make sure you're on the same page. In addition to being a way to announce your commitment to the world, your marriage is also a legal agreement between you and your significant other. Therefore, it may make sense to consider signing a prenuptial agreement before the big day arrives.
How Prenuptial Agreements Work
One benefit of drafting a premarital agreement with your partner is that it gives you a framework for those important financial discussions that many people feel awkward bringing up. The purpose of a prenuptial agreement is to disclose financial assets and debts so you can come to an agreement on what is considered personal vs. marital property. It lets you put these decisions in writing as you start your life together.
In addition to personal and marital property, there are several other things you can consider including in a prenuptial agreement in Pennsylvania:
- Spousal financial responsibilities and support
- Limitations on debt liability
- Inheritance and estate planning
Child support cannot be waived as part of a prenuptial agreement, but you can include provisions to ensure that children are not partially disinherited in the event of a divorce. You can also include a sunset clause, essentially voiding the prenup if the marriage lasts past a certain amount of time.
Steps for Getting a Prenup in Pennsylvania
The timeframe for drafting your prenuptial agreement depends on various factors, such as how much property each person owns or how much debt you have. As a general rule, it's a good idea to finalize your prenup two or three months before your wedding. That way, the decisions are made and you have one less thing to worry about as the big day draws near. The process is pretty straightforward.
Step 1: Consult an Attorney
Schedule a consultation with an attorney to start the drafting process. While one attorney may suffice for drafting the initial agreement, it is advisable for each party to have their own lawyer review it before you sign to ensure that both of your best interests are taken into consideration.
Step 2: Gather Information
Both you and your partner need to gather all pertinent information and talk about what will be considered marital property and what you will keep separate. Neither party has to include property owned before the wedding day as part of your shared assets, and your prenuptial agreement is the document you use to clarify your decisions. The agreement must be in writing in order to be valid.
Step 3: Review the Document
Each party must enter into a premarital agreement willingly and without coercion. Failure to meet this standard can nullify the legal document altogether. Therefore, it is crucial to review the final draft and make sure you are comfortable with everything it contains before you sign it.
Step 4: Sign the Agreement
A prenup is not valid in Pennsylvania unless both parties sign the document. Additionally, proof that it was signed under duress can also render the agreement unenforceable. While the document does not have to be notarized, having a notary as a witness can serve as an extra step to ensure that both you and your partner are signing it voluntarily.
Conclusion
While signing a premarital agreement may not be the most romantic thing you and your partner have ever done, it can serve you well by establishing clear financial expectations. If you are interested in getting a prenuptial agreement in Pennsylvania, contact a licensed attorney to walk you through the process. This helps to protect each partner's interests and ensures that nothing important is left out.