Also commonly referred to as “Pre-nup” and “Post-nup”, these agreements are designed to provide a sense of comfort and financial protection for individuals who are about to wed, or who are already married. Although most modern-day engaged and married couples do not enter into these agreements, they can be vital tools for protecting assets prior to, or during a marriage. To discuss the preparation or negotiation of a premarital or postmarital agreement, contact a family law attorney at BoykoNapier today.
Premarital Agreement
Definition: An agreement made in contemplation of marriage that becomes effective upon marriage. See Va. Code Section 20-148.
Requirements:
- Agreement must be in writing (Va. Code Section 20-149)
- Agreement must be signed by both parties
- Agreement must be executed voluntarily (Va. Code Section 20-151)
- Agreement must not be unconscionable
Uses: See Va. Code Section 20-150 and talk to an experienced attorney. The agreement can cover a lot of different issues, including property interest and distribution, spousal support, death benefits, and more.
Postmarital Agreement
Definition: An agreement made by spouses during marriage which becomes effective upon execution. See Va. Code Section 20-155.
Requirements: Substantially similar to those of a premarital agreement.
Uses: Substantially similar to those of a premarital agreement.
If you are contemplating a premarital or postmarital agreement, contact an experienced family law attorney to discuss your options. At BoykoNapier, our attorneys will assist you with creating an agreement that is effective, enforceable, and beneficial. Call us today at (804) 658-3418 or contact us via email.
