“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 ...
Tag: prenuptial contract
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 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
A recent USA Today article focused on the resurgence in marriage after its decline during the economic recession.1 The article reported that there was a 5% decline in marriage rates during the recent recession, coupled with cultural changes about whether and when to marry, with two-thirds (2/3) of first marriages are being proceeded with cohabitation (living together), the projections in the coming years show a temporary boost in weddings. The article stated that “[t]he private company, Demographic Intelligence of Charlottesville, Va. Say the signs are right for a temporary boost in weddings, largely among the better educated and affluent and ...
July 2, 2013CD
Before entering into a marriage, the parties may create a contract, called a prenuptial (or antenuptial) agreement. This is a contract like any other, and enforced as same by the Courts. However, terms that are contemplated and contracted to prior to marriage may not be the current state upon the dissolution of the parties’ marriage. One major and common recent example is the economic downturn and affect on employment, housing prices, housing sales, etc. If the parties contract in a prenuptial agreement to immediately sell and divide all residences/properties contemplated by the agreement or acquired during the marriage, but when the ...
November 1, 2012CD