Marriage is a union, which, for most people, is the ultimate expression of love and commitment to one another. Therefore, it’s sometimes a good idea to mitigate one of the leading causes of marriage disagreements: financial problems. A prenuptial agreement is a tool that couples can use to define their financial and property rights before getting married. This agreement is a legally binding contract, which has several significant roles in Wisconsin divorce cases.
How prenuptial agreements work
Before getting married, couples can decide to enter into a prenuptial agreement, also known as an antenuptial agreement. This contract allows couples to have control over their own financial affairs and protect their individual assets. For instance, if one partner is deep in debt, a prenup can protect the other partner’s assets from succumbing to creditors.
It also includes provisions for splitting assets and liabilities in the event of divorce or death. Although commonly associated with the affluent, a prenuptial agreement can be advantageous for couples of all financial backgrounds and ages.
The role of prenuptial agreements in Wisconsin divorce cases
There are three criteria that prenuptial agreements must meet to be valid and enforceable in Wisconsin. Firstly, both parties must have provided full financial disclosure to each other before signing the agreement. Secondly, they must have entered the agreement voluntarily and without any coercion or duress from either party. Thirdly, the terms of the agreement must be fair and reasonable for both parties at the time of signing.
If this is the case for you, you can present the prenuptial agreement in court during divorce proceedings. It can serve as evidence to support your proposed financial arrangements and property division. However, it is ultimately up to the discretion of the judge to decide whether or not to uphold the terms of the prenuptial agreement.
As much as prenuptial agreements can provide a sense of security and control in a relationship, couples need to approach the topic with sensitivity and open communication. Discussing financial matters may not be the most romantic aspect of planning a wedding, but it is crucial for setting expectations and avoiding any potential conflicts in the future.