A premarital agreement, also known as a prenuptial agreement or prenup, is a written contract created by a (sometimes engaged) couple before they are set to be married. The contract typically outlines all of the property owned by each person; this can include cars, stock accounts, bank accounts, etc.. All items are specified in the written contract so that each person can determine what is to happen to that property, if the marriage were to ever end with divorce.
North Carolina has adopted the Uniform Premarital Agreement Act (UPAA). The UPAA allows parties to contract with respect to:
1. Division of Property - the division of property during marriage and upon divorce.
2. Alimony - Alimony and the waiver of alimony. Waiver of alimony agreements will be upheld unless doing so will cause the disadvantaged spouse to be eligible for public assistance.
3. Child Support - Child support arrangements will be upheld as long as they provide for the reasonable needs of the child(ren).
There are some people that believe the rich and famous are the only ones to create prenups BUT this is not true. Prenups are merely used to protect the assets of each individual, avoid conflict in the event of divorce, avoid your significant others debts, as well as clarify finances with your significant other. Without a prenup the property is split as martial property in a divorce judgement.
If you are thinking about creating a prenup with you and your significant other we can help to draft the document for you. Keep in mind that an attorney is not needed to create a valid pre-marital agreement. Failing to hire a family law attorney may, however, affect whether the agreement is fair, valid, and enforceable.
Adkins Law is able to provide you with advice and assistance with the creation of a valid premarital agreement. Contact us to schedule a consultation with an experienced family law attorney.
Often people ask where they are able to bring suit for equitable distribution. A wife, for example, may continue to live in the marital home in Iredell County while her husband, who separated from her, lives in Wake County. The wife may work in Mecklenburg County and wish to move to Mecklenburg County as soon as she is able to sell the marital home. For convenience and strategy, the wife may wish to bring her equitable distribution action in Mecklenburg County. Is she able to do this?
Absolutely. The wife may bring her action in Mecklenburg County if it is more convenient. It would then be up to the husband to file a motion that venue would be improper in Mecklenburg County. This may or may not be worth it to the husband financially and strategically. Specific facts for your case will determine whether or not venue would be appropriate in Mecklenburg County or Iredell County. Likely, venue in Mecklenburg County would be fine and appropriate.
If you have question regarding equitable distribution and where venue would be appropriate, contact Adkins Law to speak with an equitable distribution attorney. Adkins Law is located in Huntersville NC and primarily serves Mecklenburg County and the Lake Norman area.