Prenuptial Agreements

A prenuptial agreement is often referred to as a premarital agreement or prenup. Prenups are written documents between two individuals who are contemplating marriage. The agreement sets forth division of property and debts in the event of a divorce.

Contents of a Premarital Agreement

Premarital agreements include a complete listing of each individuals debts and assets. This includes things like personal property (household goods), bank accounts, and retirement accounts. The prenup will set forth how debts and assets will be divided in the event of a divorce. Prenuptial agreements can also set forth an agreement on alimony.

Specifically, Nebraska law says that the following can be included in premarital agreements:

  1. The rights and obligations of each of the parties in any of the property of either or both of them whenever and wherever acquired or located;

  2. The right to buy, sell, use, transfer, exchange, abandon, lease, consume, expend, assign, create a security interest in, mortgage, encumber, dispose of, or otherwise manage and control property;

  3. The disposition of property upon separation, marital dissolution, death, or the occurrence or nonoccurrence of any other event;

  4. The modification or elimination of spousal support;

  5. The making of a will, trust, or other arrangement, to carry out the provisions of the agreement;

  6. The ownership rights in and disposition of the death benefit from a life insurance policy;

  7. The choice of law governing the construction of the agreement; and

  8. Any other matter, including their personal rights and obligations, not in violation of public policy or a statute imposing a criminal penalty.

Nebraska law makes it clear that children are entitled to receive support and a child’s right to support cannot be adversely affected by a premarital agreement.

Benefits of a Prenuptial Agreement

If a married couple divorces, they are subject to the laws of the state in which they obtain a divorce. If a married couple does not have a prenuptial, then the laws of the state in which the divorce is obtained will govern the division of debts and assets. If a valid premarital agreement (please see our blog for more information on enforceability of a prenuptial agreement) has been signed by the parties, then the court will follow the agreement made by the parties when deciding matters set forth in a prenup. Having a premarital agreement can help provide peace of mind as to how debts and assets will be divided in the event of a divorce.

Common Mistakes with Premarital Agreements

Unfortunately, not all prenuptial agreements are valid and enforceable. State laws set forth what must be included in a premarital agreement for it to be enforceable. If the are required contents that are missing, a court likely won’t enforce a prenup. The same may be true if there are invalid clauses included in the agreement. Sometimes parties don’t make the premarital agreement official by singing it before the marriage. Or in other circumstances one party may try to force the other party to sign a premarital agreement, thereby affecting the validity of the agreement.

We highly recommended seeking legal advice when drafting a prenuptial agreement. If you would like to have a premarital agreement drafted, contact Stephanie Flynn Law or call (402) 325-8469 for experienced legal help.