Before you get married, having a marital agreement prepared can help you prepare for the divorce you hope never happens. Statistics from the American Psychological Association (APA) indicate that nearly 50% of first marriages in the United States end in a divorce. Of these, only 5% have a prenuptial agreement in place to settle the divorce proceedings. Having a prenuptial agreement prepared can help couples define expectations, protect their assets, finances, and help both parties achieve peace of mind.
If you are thinking about having a marital agreement prepared, consulting with an experienced Kansas family law attorney is important for proper guidance. At Rundberg Law, LLC, Ron Rundberg is dedicated to offering outstanding legal services and comprehensive guidance to clients in all family law matters, including prenuptial and postnuptial agreements. I am available to discuss your unique situation and offer you the detailed legal counsel you need to draft a prenuptial agreement, protect your assets and ultimately achieve financial security.
My firm – Rundberg Law, LLC – is proud to serve clients throughout Overland Park, Johnson County, Kansas and the surrounding counties, including the Kansas City, Missouri area.
Staying in a relationship or marriage requires ongoing commitment and effort. When things don't turn out as planned, a couple's assets and finances will be subject to equitable division during the Kansas divorce proceedings. This is why couples planning to get married should consider having a prenuptial agreement prepared that sets out the division of assets, in the event of a divorce.
A premarital agreement, also known as a prenuptial agreement, or prenup, is defined as a written contract entered into by engaged couples before getting married. The premarital agreement specifies what happens to the couple’s assets and finances in the event of a divorce.
A prenuptial agreement can help you and your spouse achieve the following:
Determine the division of marital and separate assets in the event of a divorce.
Clarify the roles, expectations, and responsibilities of each spouse during the marriage.
Protect your estate plans.
Ensure that family property or business stays within the family.
Establish each spouse's right to buy, sell, use, transfer or otherwise control assets.
Define how finances, living expenses, and household bills will be divided during the marriage.
Waive or reduce the obligation to pay maintenance/alimony.
Yes, a prenuptial agreement can be modified. To "re-up the prenup," your attorney will draft an amendment to the original premarital agreement. The revised agreement must be signed and witnessed. Upon signing the revised agreement, it becomes a part of the original agreement, reflecting the new terms, provisions, conditions, or modifications.
A premarital agreement cannot include any of the following:
Child support matters
Child custody or parenting time matters
Provisions regarding anything unlawful or that is against public policy
Anything that will encourage a future divorce.
A knowledgeable attorney can evaluate your needs and advise you about how a prenup can help you.
A divorce often involves heightened emotions and financial ramifications. A prenuptial agreement will help couples define expectations, resolve pending financial issues, and simplify the asset division process, if there is a divorce. Prenuptial agreements are not just for the wealthy. Regardless of how much you have in assets, you want to protect the assets you have accumulated.
Here are some of the benefits of having a premarital agreement:
It helps define expectations, each party's roles, and boundaries, making your life easier in the long run.
It can help protect your accumulated assets, including a business you own.
It gives you and your future spouse the chance to have an honest conversation about the things that are important to each of you.
It provides you an opportunity to discuss important property and financial matters.
It protects you against future uncertainties in the event there is a divorce.
An experienced family law attorney can help craft the prenuptial agreement to fit your unique needs and ensure that it is fair, valid, and legally enforceable.
Kansas has adopted a variation of the Uniform Premarital Agreement Act (UPAA), which is a set of requirements for prenuptial agreements that has been adopted by most states. For a premarital agreement to be valid and legally enforceable in Kansas, it must meet the following procedural requirements:
The prenuptial agreement must be in writing.
Although not required, a premarital agreement should include full disclosure of both spouses’ assets and liabilities.
The terms of the prenuptial agreement must be fair and just to both spouses.
The prenuptial agreement must not be completely one-sided.
The prenuptial agreement must be drafted and executed before marriage.
There should be no evidence of deceit or coercion to influence signing the agreement.
The premarital agreement must be signed voluntarily.
The prenuptial agreement can only be entered into prior to getting legally married. Married couples can enter into a postnuptial agreement. While a prospective spouse does not have to hire an attorney, it is best if both of the parties has been given the opportunity to consult with an attorney. While Kansas law does not require the parties disclose all of their assets and debts, a failure to disclose all financial information can be the basis for the agreement not to be enforceable. A knowledgeable attorney can enlighten you about your possible options and outline an effective strategy to protect your accumulated assets, finances, and future.
As you're planning to get married, you need to also prepare for future uncertainties. In the event that your marriage doesn't last forever, you can protect your assets and finances by establishing a marital agreement. An experienced family law attorney can explore your available options and offer you the knowledgeable guidance you need to draft your prenup.
At Rundberg Law, LLC, I have devoted my career to assisting and guiding clients through the processes involved in drafting premarital agreements. As your attorney, I can help you understand the benefits and drawbacks of prenuptial agreements and advise you about your available legal options. Using my extensive experience, I can guide you through the entire process and ensure that the prenuptial agreement meets all procedural requirements and is valid and legally enforceable.
If you need proper guidance drawing up a prenuptial agreement, contact my firm – Rundberg Law, LLC – today to schedule a simple consultation. I can offer you the experienced legal guidance, support, and brilliant advocacy you need to navigate important decisions. My firm proudly serves clients throughout Overland Park, Johnson County, Kansas, and Missouri.