Little Rock Prenuptial Agreement Lawyers

What is a Prenup?

Short for “prenuptial agreement,” a prenup is a contract between two people who plan to marry. It specifies how couples will decide financial issues (such as property division, debt division, and alimony) in the event of death or divorce. A prenuptial agreement helps protect an individual’s assets during marriage and can remove some of the stress of combining assets.

Since premarital agreements have significant financial implications, it is important to consult with an experienced prenup lawyer. We at Destiny Law have successfully handled all sorts of marital cases, including prenuptial agreements. Our skilled prenup attorneys can help you navigate the complexities of important marital matters and ensure your rights are protected. Contact us today to discuss your case!

What Does a Prenup Cover?

Arkansas prenuptial agreements can cover a wide range of topics. It can also require a spouse to draft estate plans or a will that reflects the terms of the agreement. Most often, prenups cover how debts and assets are divided, especially those acquired before getting married. A prenuptial agreement can help minimize fighting over financial issues in the unfortunate event of a divorce.

• Property Division – Prenups involving property division traditionally discuss the rights to own, use, or dispose of property that each spouse has if the couple divorces. This can include property owned prior to the marriage and acquired during the marriage.
• Assets/Debt – A prenup can spell out how assets will be divided in the event of divorce, as well as responsibility for the debt that each party has. For example, a couple may agree that each spouse will keep any assets they brought into the marriage, as well as their own bank accounts, retirement accounts, and credit card debt. The prenuptial agreement may also include how to disperse the funds of a life insurance policy.
• Alimony – Many prenuptial agreements include whether either spouse has a right to alimony if the couple divorces, as well as the amount of alimony. When a couple marries, one spouse may agree to put their career on hold to take care of children or a household, and the couple may agree that the working spouse will pay the non-working spouse alimony if they divorce. On the other hand, many working spouses will agree that neither spouse will pay the other alimony if the marriage ends.

Couples can include a variety of other topics in their prenuptial agreement if they so choose. The law states that a prenuptial agreement may cover any other matter, such as personal obligations or rights, that does not violate public policy or statute.

However, in Arkansas, a prenuptial agreement may not determine child custody or a limitation on child support. Arkansas courts always decide child custody and child support at the time of divorce. This is because the judge will need to properly assess what custody arrangement is in the child’s best interests and base support on the child’s needs as well as the parents’ respective financial situations at the time of divorce.

Our experienced prenuptial attorneys in Little Rock can help you determine what to include in your premarital agreement.

Who Should Get a Prenup?

Premarital agreements were commonly used if one individual had significantly more wealth than their future spouse, but today, couples of varying income levels use prenups for a number of reasons.

You may be interested in getting a prenup if you:

• Want to protect your premarital assets or business interests
• Have children from a previous relationship and want to protect their inheritance
• Want to decide ahead of time how your property will be divided
• Want to determine whether you or your spouse will pay alimony if you divorce

What Makes a Prenup Invalid?

A prenuptial agreement becomes binding once a couple weds, as long as it was validly executed. Arkansas is one of many states that have adopted the Uniform Prenuptial Agreement Act (UPAA), which is a set of rules stating what makes a prenup valid. To be enforceable under the UPAA and in the state of Arkansas, a prenuptial agreement must be in writing and signed by both spouses voluntarily.

The court will not enforce agreements that are unconscionable (severely unfair) or agreements that limit alimony payments so that one spouse would require public assistance to meet basic needs — meaning a court can override the agreement and force the other spouse to pay alimony.

Arkansas courts won’t enforce a prenup if any of the following factors are present:

• One spouse didn’t voluntarily sign the agreement
• The agreement was unconscionable when it was signed, and before signing:
  • A spouse didn’t truthfully or fully disclose their assets or debts
  • The defrauded spouse didn’t waive the right for disclosure of the other spouse’s assets or debts, and couldn’t have otherwise known about the other’s financials

Courts decide on a case-by-case basis whether a prenuptial agreement is unconscionable, but it is typically rare that the prenup will not be held up. Arkansas law does not require spouses to consult with an attorney prior to signing an agreement, but judges may take that into account when deciding whether the prenup is unconscionable. Having the guidance of a seasoned prenuptial agreement attorney can ensure that your prenup is valid and will hold up in court in the event of divorce.

Contact Our Little Rock Prenup Lawyers

At Destiny Law, no case is too difficult. Our prenuptial agreement lawyers offer one-hour consultations for a set fee to evaluate your case with you. We will explain to you how prenups work and provide you with an overview of your rights. After this consultation, the required retainer and costs can then be estimated. Contact us today!