So many details go into making a wedding day special. With everything the Louisiana couple needs to remember to do before the big day, it is no wonder that some things may slip through the cracks. That may be okay if you inadvertently sat two warring relatives next to each other at the reception, but when it comes to prenuptial agreements, you may only have one chance to get it right.
When negotiating a prenup, it is important to at least consider a variety of issues for inclusion in the agreement. For instance, if one spouse owns the house that the couple will call home during the marriage, the parties still need to discuss whether it will remain a separate asset during the marriage and in the event of a divorce. Will the engagement ring be separate property, or was it a family heirloom that the other spouse would want back?
These are just a couple of the asset questions that the parties need to ask themselves and each other. If one future spouse owns a business, what happens to it if the marriage ends? Does each of you get to keep the gifts given to each other throughout the marriage as separate property? Each party may also want to make sure that he or she does not end up responsible for the premarital debts of the other.
All of these considerations and more require attention when negotiating prenuptial agreements. Forgetting something at this point could cause problems later should a divorce occur. Louisiana is a community property state, which means that the proceedings begin with the assumption that each of you jointly own all assets. The failure to identify an asset as separate from the beginning could cause problems down the road if the marriage ends. Help is available to assist and guide you through the negotiation process to help ensure this does not happen.
Source: brides.com, “The 6 Things You’re Forgetting to Include in Your Prenup (From a Divorce Lawyer),” Jaimie Mackey, July 29, 2017