The Virginia prenuptial helps outline the terms and conditions related to property, assets, and income in case the couple decides to separate or divorce.
What Do You Mean by Virginia Prenuptial Agreement?
The Virginia prenuptial agreement is a written contract a couple enters before marriage. The contract is designed to make the division of income, property, and assets easier in the unfortunate case of demise or a divorce.
Virginia's law requires the prenuptial agreement to be signed by both parties to consider it enforceable in court.
What Is Included in the Virginia Prenuptial Agreement?
The Virginia prenuptial agreement becomes effective immediately upon marriage. That is why couples must include all the terms and conditions before signing them.
The prenuptial agreement includes the following content:
- The rights and obligations of both parties related to acquired property.
- The right to transfer, buy, sell, lease, abandon, consume, assign, expend, mortgage, control, or manage the property.
- The disposition of property upon death, separation, or divorce.
- Any alimony or spousal support.
- The making of a trust, will, or engagement to carry out the prenuptial agreement provisions.
- The ownership rights or insurance policies of either spouse.
- State law governs the construction of the prenuptial agreement.
- Personal rights and obligations of the couple.
What Issues Does a Virginia Prenuptial Agreement Cover?
Couples use prenuptial agreements in Virginia to enter into agreements upon marriage to ensure they do not violate the law or public policies. The agreement specifically covers each spouse's financial rights and obligations. So, couples use the Virginia Prenuptial agreement to determine the following common issues:
- The ability of each spouse to control or manage the property after marriage.
- The division of assets or property in the event of death or separation.
- Whether one of the spouses will pay alimony during divorce or separation.
- The spousal support duration and amount.
- Retirement pensions and life insurance policies.
- Whether any spouses are required to write a will and carry out the prenuptial agreement terms.
- The state's laws will interpret the rules and provisions mentioned in the prenuptial agreement.
Key Terms Related to the Virginia Prenuptial Agreement
Here is a glossary of key terms related to the Virginia prenuptial agreement.
- Prenup: A written agreement signed between couples ahead of getting married.
- Divorce: The official separation of a married couple because of unforeseen circumstances.
- Debt: The amount of money an individual owes to another person.
- Spousal Support: Alimony or financial support a person gives to their spouse per the court's order.
- Child Custody: The right to have daily care, control, and responsibility of the child as per the family law act.
Conclusion
The Virginia prenuptial agreement is a legally enforceable contract that helps protect the rights of both individuals throughout and after marriage. The written document has the signature of both parties and is enforceable by law in the US state. However, it includes extensive content that may require professional assistance to ensure couples are not devoid of their rights.
If you seek legal assistance to draft a prenuptial agreement, visit Contracts Counsel now. You can state your requirements by posting a project on the official website and getting the best professional help in no time.
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Meet some of our Virginia Prenuptial Agreement Lawyers
Pia M.
Pia is returning to private practice after spending the majority of the last five years in public service as a prosecutor, handling major and violent crimes for the Office of the Commonwealth’s Attorney for Arlington County and the City of Falls Church. She is committed to serving the community through effective legal advocacy, having spent her early career doing indigent defense work and family law. Pia attended Northwestern University where she obtained a Bachelor of Arts in Psychology. After finishing college, Pia returned home to Virginia and obtained her Juris Doctorate from the Marshall-Wythe School of Law at the College of William and Mary in 2007.
Jason H.
Jason has been providing legal insight and business expertise since 2001. He is admitted to both the Virginia Bar and the Texas State Bar, and also proud of his membership to the Fellowship of Ministers and Churches. Having served many people, companies and organizations with legal and business needs, his peers and clients know him to be a high-performing and skilled attorney who genuinely cares about his clients. In addition to being a trusted legal advisor, he is a keen business advisor for executive leadership and senior leadership teams on corporate legal and regulatory matters. His personal mission is to take a genuine interest in his clients, and serve as a primary resource to them.
May 22, 2023
Christopher M.
Skilled and experienced business attorney with vast experience in a wide array of commercial contracts. Strong emphasis on the lodging and hospitality practice field, including real estate acquisition and disposition, management agreements, franchise agreements, design & construction contracting and finance.
May 23, 2023
Meagan K.
Meagan Kirchner has nearly a decade of experience in Immigration law. She has significant experience working on H-2B immigration matters. Her practice also focuses on business immigration, particularly representing corporate clients pursuing H, E3, TN, O, and L nonimmigrant classifications, as well as lawful permanent residence (EB-1A, NIW, EB-1C). Meagan has represented clients in a variety of industries including agriculture, hospitality, healthcare, IT, engineering, and finance. Meagan has a Bachelor of Science degree in Business from George Mason University and a Juris Doctor degree from the George Mason University School of Law. She is licensed to practice law in Virginia and is also a member of the American Immigration Lawyers Association (AILA).
July 8, 2023
Christi H.
I have been practicing law for 18 years. I have worked in a mid-size firm environment where I was named a partner in 2014. In 2016, I left to start my own practice and work part-time. I handle most all corporate and transactional work and serve has outside general counsel for a number of companies
July 23, 2023
John W.
I am a business lawyer with 30+ years of experience, with a specialization in the life sciences industry. I have been general counsel at 5 different companies - both large and growing, as well as small and emerging. I have built legal teams and have extensive experience with Boards of Directors.
August 4, 2023
Rocco D.
I'm in general practice with an emphasis on real estate, litigation, and contracts
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Prenuptial Agreement
California
Are prenuptial agreements public record?
My partner and I are considering signing a prenuptial agreement before getting married. I want to keep it confidential and I'm not sure if we have to file this with the state or when we get married and would be publicly available?
Michael M.
Prenuptial Agreements are private agreements between the parties. They are typically not public, however, if the matter goes to court, they can be made part of the public record.
Family
Prenuptial Agreement
Massachusetts
How does a prenuptial agreement affect taxes?
As a couple planning to get married, my partner and I are concerned about the tax implications of a prenuptial agreement. We are wondering if entering into a prenuptial agreement will have any impact on our tax obligations or if there are any specific tax considerations that we should be aware of. We are seeking advice from a lawyer who can provide us with guidance on this matter.
Briana C.
A prenuptial agreement does not in itself affect how taxing authorities will treat the spouses. But it can create promises between the spouses toward one another. For example, it may create a promise to file jointly, or specify that they are making no such promise. And it can create a promise by each spouse to pay the other back for any taxes the other pays on his or spouse's behalf. The decision whether to file jointly or separately does have tax implications with taxing authorities.
Family
Prenuptial Agreement
Massachusetts
Is a prenuptial agreement legally binding?
I am planning to get married and I have been advised to consider a prenuptial agreement to protect my assets in the event of a divorce. However, I am unclear on the legal validity and enforceability of a prenuptial agreement and whether it can be challenged or overturned in court. Therefore, I would like to seek the advice of a lawyer to help me understand the legal implications of a prenuptial agreement and ensure that my interests are protected.
Briana C.
Judges in most cases honor and enforce (signed and notarized) prenuptial agreements between two spouses as long as both parties entered it freely and voluntarily and with full knowledge of one another financial circumstances, and the agreement is not "unconscionable." A prenuptial agreement may not be enforced if (1) either party signed it under duress or coercion or undue pressure (or, say, the night before the wedding), (2) the party seeking to enforce it did not truthfully and completely disclose their financial information, or (3) enforcing the prenup would leave one spouse so destitute that they could not meet their most basic living expenses (i.e., would be forced onto welfare). In short, the prenuptial agreement will be enforced if (1) all the procedural requirements were met at the time it was signed and (2) the terms are not unconscionable, taking into account the circumstances existing at the time of divorce.
Estate Planning
Prenuptial Agreement
Massachusetts
How does a prenuptial agreement affect estate planning?
I am getting married soon and I am interested in understanding how a prenuptial agreement would affect my estate planning. I would like to know what steps I should take to ensure that my assets are protected and that my wishes are carried out after I pass away. I am also curious as to how a prenuptial agreement might affect the distribution of my assets to my family members and other beneficiaries.
Briana C.
A prenuptial agreement does not create an estate plan. But it can do two things. First, a prenuptial agreement can create a contractual promise on the part of one or both spouses to do something in particular with their estate plan (such as promising to leave the marital home to the surviving spouse, or promising to leave everything they have to the surviving spouse, or promising to set up a trust, etc. etc.). If this contractual promise is broken, the surviving spouse has a contract claim against the estate of the dead spouse. Second, and almost the opposite, in a prenuptial agreement one or both spouses can waive the rights they would otherwise have by statute, thus freeing up the other spouse to do whatever he or she wants with her estate plan. Without a prenuptial agreement, a surviving spouse is entitled by statute to inherit a certain proportion of the estate of the dead spouse (the exact proportion depends on whether or not the dead spouse has a will, and/or has surviving children). The prenuptial agreement can override these statutory rights and provide that the surviving spouse is not entitled to inherit anything from the dead spouse, except for anything the dead spouse may choose to leave the surviving spouse in his or her will.
Family
Prenuptial Agreement
Texas
Can a prenuptial agreement be challenged in court?
I am recently engaged and am considering entering into a prenuptial agreement with my fiancé. We have differing financial backgrounds and I am concerned that the agreement may not be fair to either of us. I want to understand if a prenuptial agreement can be challenged in court and the conditions under which this could happen.
Nicole P.
Texas calls prenuptial agreements "Premarital Agreements". These agreements, just like any other contract, can be challenged in court. A challenge to the agreement does not mean it will be found invalid, however. Surviving a challenge to the premarital agreement is primarily accomplished all the way back to when the agreement is drafted and executed. There are requirements or prohibitions for the agreement terms to be valid, which are too numerous to list here, but can be found in the Texas Family Code, chapter 4. In Texas, no consideration is required, but the Agreement must be in writing, and signed by both parties. It must be free from fraud and duress, and entered into voluntarily. It cannot be unconscionable, and the parties must provide a fair and reasonable disclosure of the property and financial obligations (unless waived). Enforcement of a premarital agreement falls under the Texas Family Code 4.006. Additionally, any provision that would adversely affect the support of children is going to be prohibited. Conservatorship and possession/access (custody and visitation) will always be determined by the Court under the best interest of the children standard, regardless of what may have been put into the agreement. The best way to survive a challenge is to hire a competent attorney to draft the agreement, ensure the agreement complies with the Texas Family Code, provide a fair and reasonable disclosure from both parties, both parties being represented by their own attorney when entering into the agreement, and ensuring the agreement is available for review far in advance of the wedding date.
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Prenuptial agreement
Location: North Carolina
Turnaround: Over a week
Service: Drafting
Doc Type: Prenuptial Agreement
Number of Bids: 3
Bid Range: $800 - $1,200
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Prenup Agreement Review
Location: California
Turnaround: Less than a week
Service: Contract Review
Doc Type: Prenuptial Agreement
Page Count: 15
Number of Bids: 2
Bid Range: $370 - $750
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