Did you know there are several ways you can prevent divorce from coming about? These ways, as given by divorce lawyers, include:
Get a prenup
A prenuptial agreement looks to be one of the least romantic premarital activities one may engage in. However, a prenuptial agreement provides consistency and security to a marriage.
Many difficult financial decisions are handled up front, removing potentially sensitive issues that might bring problems later.
When you are transparent through the required financial disclosures, you foster trust and may even provide the less wealthy spouse with much-needed empowerment.
The Uniform Premarital Agreement Act, or some variation thereof, has been approved by more than half of all states. While every state recognizes some sort of prenuptial agreement, interpretation and enforcement differ greatly.
For example, whereas many states focus on the parties’ financial circumstances when the prenup is signed, others allow for a “second look” when enforcement is sought. Suddenly, your well-drafted prenuptial agreement is no longer an unbreakable, binding instrument and has been reduced to just one fascinating point of view on the subject.
Critical facts may likewise be subject to de novo evaluation in certain jurisdictions. So learn your laws.
To protect your property and reduce issues that might come about, have your prenup in a state that honors it even in divorce.
Think about the postnup.
A postnuptial agreement, like a prenup, is beneficial for reducing economic friction and providing predictability and security to both parties. Unlike a prenup, a postnup requires independent consideration outside of the marriage.
Postnuptial agreements are important when financial problems arise in a marriage, and there is no prenuptial agreement to provide guidance or protection.
Postnuptial agreements may also be useful when behavioral issues (e.g., infidelity, addiction, etc.) occur and the couple still wishes to keep the marriage – but on new conditions.
Though a postnup cannot prohibit terrible behavior, these difficulties frequently translate into adjustments in negotiating power, which may ultimately allow a marriage to flourish – or, at the very least, continue with a new-found sense of fairness and security.
A postnuptial agreement allows a married couple to reap the benefits of a prenuptial agreement a second time.
While all jurisdictions enforce some form of postnuptial agreement, as with prenups, the meanings and applicability of these states vary greatly, so make no assumptions.
In Michigan, for example, courts had long regarded postnups with suspicion, believing them to be guidelines for an impending divorce.
These agreements are now widely accepted across the country. However, as you draft it, you must remain mindful of public policy considerations, not to mention that these contracts must explicitly state the underlying factor beyond the marriage itself.
If you’re thinking about a postnuptial agreement and already have a prenup, check to see if the applicable state law enables you to change the prenup.
You can do the amendments without additional thought where appropriate, providing a potentially less complicated alternative to a postnuptial agreement.
Undertake estate planning
Do not underestimate the impact of this time-tested gold standard for wealth distribution and succession.
A comprehensive estate plan can give the same assurance and continuity as a prenuptial or postnuptial agreement, which comes in handy in preventing divorce.
The implementation of these plans, like prenups and postnups, occurs, by definition, during the most miserable life events.
On the other hand, estate plans should ideally be created during joyful times to withstand any future challenges.
When writing the estate plan, always build in asset protection for your children that you have or might have with your partner.
Estate plans are frequently created to help future generations, but many people often underestimate the importance of such safeguards. You can only guess at your children’s financial obligation as adults, especially if they are young.
Keeping assets in trust for the benefit of a kid for as long as possible, and ideally for the rest of the child’s life, with customized trust rules regarding access to trust assets, will assist in protecting those assets from a child’s creditors as well as a child’s poor spending habits.
A well-drafted trust can keep trust assets out of a child’s marital estate and out of the hands of their divorced spouse if they go through a divorce.
You also should ensure that your assets are properly titled to ensure your estate plan works as planned. To avoid the probate process’s cost, delay, and public nature, ensure that no assets are named solely in your name.
If you plan for the terms of your revocable trust to govern the disposition of your assets, consider transferring assets to your trust, or at the very least, confirm that there is no identified beneficiary or joint owner who will cause the assets to bypass the trust.
To complete this step, you may need to retitle an account in your spouse’s or trust’s name, convey real estate, add a joint account owner, add a transfer on death (“TOD”) or payable on death (“POD”) beneficiary to an account, designate a beneficiary of a retirement account or life insurance policy, and/or assign your interests in an asset or entity.
To have peace of mind that things are in line at all times, regularly revisit the document and make any relevant changes necessary.
Parting shot
These are some of the ways you can prevent divorce from coming about. When drafting the prenup and postnup with your family lawyers, avoid any elements that could be regarded unfavorably in terms of child support.
To prevent this, courts in some states have struck overbroad attorney fee waivers because they have been understood to have a negative impact on a child’s support, which is directly contrary to the requirements of the prenup statute.
These agreements should also not address physical custody, decision-making, or other child-related concerns, which are entirely delegated to the courts for judgment of the child’s best interests.
To protect your assets and marriage, work with experienced child support lawyers Fairfax VA who will guide you every step of the way and ensure that you put together a document that won’t be dismissed in court.