An ante-nuptial agreement, commonly known as a prenuptial agreement or prenup, is a legal document that outlines the terms of a couple`s assets and liabilities in the event of a divorce. This agreement is typically signed before marriage and is designed to protect the interests of both parties.
In Georgia, prenuptial agreements are governed by state law and must meet certain requirements to be considered valid. For example, the agreement must be in writing and signed by both parties in the presence of a notary public or witness. Additionally, both parties must have had the opportunity to review the agreement and seek legal advice before signing.
When it comes to property division in a divorce, Georgia is an equitable distribution state. This means that marital assets are divided fairly, but not necessarily equally, between the spouses. However, a prenuptial agreement can override this default rule and specify how property will be divided in the event of a divorce.
One of the most common reasons individuals in Georgia seek a prenuptial agreement is to protect their separate property. Separate property is typically considered property that was acquired by one spouse before the marriage, and is not subject to division in a divorce. However, if separate property is commingled with marital property, it can become subject to division. A prenuptial agreement can clarify which assets are considered separate property and ensure they are protected in the event of a divorce.
Another reason individuals in Georgia may consider a prenuptial agreement is if they have children from a previous relationship. A prenuptial agreement can specify how assets will be divided in the event of a spouse`s death or divorce, and can ensure that children from a previous relationship receive their fair share.
It is important to note that a prenuptial agreement cannot dictate child custody or child support arrangements. These issues must be determined at the time of the divorce based on the best interests of the child.
In summary, a prenuptial agreement can be a valuable tool for individuals in Georgia who wish to protect their assets and plan for the future. However, it is important to seek the advice of a knowledgeable attorney to ensure that the agreement is valid and enforceable.