Often times, individuals feel like asking their soon to be spouse to sign a premarital agreement may be disrespectful, or that even having a conversation about signing one may be awkward. However, premarital agreements, also referred to as prenuptial agreements, actually offer a lot of benefits to couples. While couples contemplating marriage should certainly shoot for the goal of remaining married, unfortunately, life happens, and relationships get strained. Premarital agreements are a way to “hope for the best, and expect the worst.” This blog looks at some of the benefits premarital agreements can offer to prospective spouses. Full Disclosure. Many couples ...
October 23, 2019CD
Unfortunately, many marriages in the United States and in Indiana may end in divorce. Usually, it is not a thought in a bride or groom’s mind before their wedding that the marriage will someday end. However, with a relatively high rate of divorce present, and with many individuals re-marrying or getting married for a third or fourth time, more and more individuals are establishing contingencies in case a marriage does not work out. For this reason, some couples choose to enter into pre-marital agreements under Indiana Uniform Premarital Agreement Act (the “Act”) (Ind. Code § 31-11-3-1 et seq.). This blog ...
May 1, 2019CD
As stated in Ciyou & Dixon, P.C.’s blog post of February 25, 20191 (read it here) the idea of cohabitation between partners has become common in the United States. Couples may cohabit for a variety of reasons – younger individuals are choosing to cohabit before marriage at an increasing rate; partners with children may choose not to marry for a variety of reasons; some who have been “burned” by a past marriage may vow never to get married again but have found a new partner with whom they enjoy sharing their life; some may want to avoid the expense and ...
March 13, 2019CD
“We need to discuss a prenuptial!” Or so the conversation begins for some couples who want to marry. A prenuptial, or prenup for short, is a contract parties make between themselves before marrying to address what happens with assets and liabilities in the event of death or divorce. This right is provided in Indiana statutory divorce law and gives the parties substantial flexibility and certainty when the relationship ends on death or divorce. The right to contract in all aspects of life is a powerful right guaranteed in the United States and Indiana constitutions, as it should be, so the ...
August 13, 2018CD
A prenuptial agreement is nothing more than a contract that specifies how certain matters will be handled and decided if the parties’ marriage later fails (or a spouse dies). The most common scenario where prenups are used occurs when one spouse has significantly more assets. The prenup typically protects these assets brought into the marriage from being divided with the other spouse in the event of a divorce (or death). These agreements are allowed under by statute in Indiana and are generally enforceable unless they try to specify terms related to children that may be born between the parties. However, ...
April 5, 2018CD
In today’s digital world with global work and play, people from different cultures, backgrounds, and ages marry. In many cases, there are significant differences in net worth, age, and business ownership. For this reason, some couples choose to enter into pre-marital agreements under Indiana’s Uniform Pre-Marital Act. A prenuptial is a document or series of documents, that specifies what a divorce court is to do in divorcing the parties in a divorce filing when separating their assets and liabilities. This blog addresses legal issues you should understand if you contemplate entering into a pre-marital agreement. The first and most important concept to ...
December 8, 2017CD
Under Indiana law, Courts are required to consider all property brought into the marriage and acquired during the marriage as marital property, and then divide it in a fair and equitable way. This means if you obtain an inheritance, or have use of a car from a third party, it may be treated as marital property and divided. With an inheritance, keeping separate from marital funds may be key or addressing this in a post nuptial. If you obtain a loan from a friend or parent, it must be documented in written form like a bank loan with interest, repayment terms, ...
November 5, 2015Adam Hayes
With divorce statistics indicating one in two marriages ends in divorce, many people—from those who have heard divorce horror stories to those who have had their own divorces—sometimes contract for terms to divide their estate (assets – liabilities = net marital estate) in the event of a divorce. There are three ways to do so, all with risks and specific requirements. The most obvious and well known is the pre-marital agreement. This is made in contemplation of divorce and has existed in Indiana as a matter of contract law for decades. In 1995, this was reinforced by the Uniform Premarital Agreement ...
August 5, 2015Adam Hayes
In today’s world, a marriage is sometimes a matter of finance as much as love and romance. For this reason, a pre-nuptial agreement is somewhat common. In particular, a party coming into a marriage with significantly more assets may want to protect them in the event of a future a divorce. If this is your situation, there are five key legal aspects of prenuptials you must know. First, a prenuptial is a form of contract, which is protect by the right to contract under the Contract Clause of the Indiana Constitution. This means that they are favored in terms of being ...
February 26, 2015CD
What about if I am already married? Divorce rates in America might be on the decline, but the statistics are still staggering. For example, 41 % of 1st marriages end in divorce; 60 % of 2nd marriages end in divorce; and 73 % of 3rd marriages end in divorce! Another interesting trend is that people tend to be getting married later in life, after they have completed their educations, built a career foundation, and accumulated some assets (a 401k, a house, a car, etc.). When you finally decide to marry, it is easy to get caught up in the bliss of being ...
June 3, 2014CD