A marriage brings excitement and anticipation. You may decide to include a prenuptial agreement as part of your pre-wedding plans. A prenup does not imply a lack of trust but serves as a tool to protect your financial interests.
Georgia recognizes these agreements and they can play a crucial role in safeguarding your assets if your marriage ends in divorce. Creating a robust prenuptial agreement requires careful thought and open communication with your partner.
Disclosure of assets and liabilities
A complete and detailed disclosure of both parties’ assets and liabilities forms a fundamental part of any prenuptial agreement. This includes property, investments, retirement funds and any debts.
Disclosing these details allows both you and your partner to make informed decisions about how to manage these elements in case of a divorce.
Distribution of property
Consider how you want to divide property acquired during your marriage. Georgia uses an equitable distribution law, which means a fair but not necessarily equal division of marital property. Clearly define what counts as marital property and how to divide it. In your prenup, you might want to specify particular assets each party will keep if a divorce occurs.
Alimony considerations
Alimony, or spousal support, often becomes a contentious issue in divorce proceedings. In your prenuptial agreement, you can stipulate whether alimony payments will happen and, if so, under what conditions.
Handling of debts
Specify in your prenuptial agreement how you will divide any debts incurred during the marriage if you decide to part ways. This protects each party from unfairly shouldering the other’s debts.
Drafting an agreement that is fair and beneficial to both parties can be a complex task. Open and honest discussion between you and your partner is key to creating a solid prenuptial agreement.