Can I reverse my premarital agreement- not the first thing to come to mind while getting married? But, not the last thing either, trust me.
Getting married does not only mean joining two lives on a strictly emotional level but also involves a series of regulations. The regulations are based on the economic situation of both, according to the marriage regime chosen.
This economic regime will be especially important in terms of the distribution of assets in cases of possible marital breakdowns. It can be chosen before the marriage or modified after the celebration thereof.
What Is Premarital Agreement Or Prenuptial Agreement?
As the word itself says, the premarital contract is an agreement that two people stipulate before getting married. This is usually done to regulate their personal and property relationships in the event of a divorce. This is a widespread practice in many countries. It represents a kind of precaution for the married couple because of the future end of their marriage.
In the United States, the marriage contract is known under the name of “prenuptial agreement” (“prenup”) or even “premarital agreement.” A contract performed after marriage is a “marital agreement” or “postnuptial agreement.”
In the US, the marriage contract is freer than in other countries, both in form and content. So you can put whatever you want that isn’t against the law and that “Unconscionable” or “unfair.” The US marriage contract must naturally be following good morals and public order defined by the Federal Government of the United States.
- It allows deciding in peacetime that will have to live in the conjugal house, who will take care of the spouse’s maintenance, who will live with the children, etc. In this way, unnecessary traumas and quarrels are avoided, which only leads to a waste of time and money.
- It allows to establish fewer causes of separation and divorce which, most of the times, have traumatic consequences on children;
- It recognizes the freedom of future spouses to decide independently on their own life. There will be no need to delegate judicial authority on personal and property matters.
Why Make A Prenuptial Agreement?
- To protect children’s inheritance from first marriage since in the US, the lawfully benefits the surviving spouse, and children can be totally disinherited.
- So that your spouse does not interfere in the business you have created with, for example, other shareholders.
- To keep your salary independent of the Community.
- For other reasons which are personal to you
- Sometimes, it’s better to think together before a wedding. It’s better than to risk a most painful divorce if each other’s intentions haven’t been made clear. Therefore, this has the merit of saying what we want and how we intend to govern our present or future goods.
- In the US, marriage contract law has evolved a lot since 2002, and more than ever, you need good lawyers to make a valid contract. This is one of the great cultural and legal differences that expatriates must take into account at the time of marriage.
Can I Reverse My Premarital Agreement?
The premarital contract can be modified at any time during married life. Also, the procedure does not differ from the premarital contract.
You have to go through all that must be carried out when establishing the economic regime before marriage. It will be necessary to go to the notary’s office and grant matrimonial agreements.
As a general rule, this is usually done to change from the joint property regime to the property separation regime. In that act, the previous economic regime will be dissolved.
If the marriage decides to liquidate the community property regime, an inventory will be made. The inventory of the assets and liabilities of the community property (assets and debts contracted) will be divided into halves.
Of course, it is not mandatory to liquidate the regime at the same time that the previous regime is dissolved, but the marriage can postpone it.
At this time, that liquidation must be recorded in a public deed. So they have legal effectiveness.
How to Reverse My Premarital Agreement?
- Of course, it must be drafted with the help of a specialist lawyer. You should never imagine being able to make a contract of this type without good lawyers.
- It is a contract where it is a question of settling money problems and not of modalities of life, sex, or children.
- There should not be anything that is against the law or that could promote a divorce
- The two spouses must fully understand the contract. To be sure, everyone must have their lawyer who advises and explains the ins and outs. This is even truer if one of the fiancés is more aware of the business world’s laws and rules. It is recommended to hire a lawyer who speaks your language to be sure you understand.
- It must be signed and approved by both parties.
- All property, debts, income, expenses, in short, anything that should affect the value of the property should be written down.
- The contract must be prepared in advance so that each party can read it, think about it, and accept it with confidence.
- The contract must be “notarized” and “recorded” if it involves a change of real estate ownership.
Can I reverse my premarital agreement? This is a very complex question when the spouses have different wealth amounts. The best and easiest way is to rewrite a marriage contract or “postnuptial agreement” according to the state’s rules in which you live.
Of course, with the help of a specialized lawyer. It’s not really that simple, but who said life is easy?