Jennifer Lopez and Ben Affleck may not have had a prenuptial agreement, but you should consider one

NEW YORK (AP) — Longtime superstar watchers could not have been shocked when Jennifer Lopez filed for divorce from Ben Affleck, however what was shocking was that Lopez’s divorce petition didn’t embody any point out of a prenuptial settlement.

A prenup is a authorized doc for soon-to-be-married {couples} that lays out how they may divide their property throughout their marriage and in the event that they divorce. They’re widespread for celebrities and really rich {couples}, however divorce legislation lawyer Raiford Dalton Palmer says it is best to think about one even for those who don’t have some huge cash.

“Prenups should not only for wealthy individuals,” stated Palmer, who’s a managing shareholder of STJ Divorce Legislation. “They are often essential for those who don’t have as a lot cash as a result of each greenback spent on lawyer’s charges is a greenback that you simply’re not in a position to spend in your kids or your self.”

When you plan to get married quickly, right here’s what you must learn about prenuptial agreements:

It’s best to have a prenup dialog early

When approaching the subject along with your vital different, timing is vital. Household legislation lawyer Linda J. Ravdin recommends that you simply have the dialog sooner reasonably than later and don’t wait till you’re midway via organizing your marriage ceremony.

“As quickly as they begin speaking about marriage, the one who needs the prenup ought to be saying one thing,” Ravdin stated.

It’s additionally necessary to pay attention to your state’s deadline to submit a prenuptial settlement. For instance, California has a seven-day rule, which signifies that one individual must current a preliminary prenuptial settlement seven days earlier than the opposite individual can signal it. That is meant to ensure the opposite individual has sufficient time to assessment the doc.

Strategy the prenup dialog with understanding

Speaking about prenuptial agreements may be particularly troublesome because it includes full transparency about your funds. To keep away from battle or damage emotions, lawyer Julia Rodgers recommends approaching the dialog gently.

“It’s simply as a lot an emotional doc as it’s a authorized one,” stated Rodgers, who’s the CEO of Hi there Prenup, a web based prenuptial settlement platform.

Rodgers recommends discussing why you desire a prenup and your fears surrounding it. One widespread motive youthful individuals cite for wanting a prenup is witnessing how troublesome their dad and mom’ divorces have been.

Ask the correct questions on a prenup

It’s best to talk about what property you could have and the way you’d divide them for those who occur to divorce. That is additionally the time to have necessary conversations about expectations throughout your marriage.

Rodgers recommends asking the next questions:

— Would you like children? In that case, are each individuals going to proceed working?

— When you don’t need children, what sort of way of life would you like?

— Do you wish to purchase a home or hire?

— How usually do you wish to take a protracted trip?

— What kind of debt do you could have?

— Do you wish to open a enterprise sooner or later?

A prenup could make divorce much less painful

Prenuptial agreements may be equated to property planning, Palmer stated. {Couples} don’t get married anticipating they may divorce, however planning in case it does occur can save them complications and cash.

“It’s actually acceptable for those who wish to make divorce much less painful, cheaper and so they have property they want to shield,” Palmer stated.

With or with out a prenuptial settlement, going via a divorce will take numerous money and time. However having a prenup can ease the conversations concerning the division of property, alimony and debt. Nevertheless, prenuptial agreements don’t embody youngster help or another subjects associated to kids.

There are some misconceptions about prenups

A typical false impression about prenups is that they profit the highest-earning partner, however this isn’t true, Rodgers stated. As a result of prenuptial agreements are drafted by each events, with their respective attorneys, they ideally shield each spouses.

Prenuptial agreements should not solely helpful if the couple divorces. As a result of they lay out funds and future planning, they can be used to put out expectations from each events in the course of the marriage and in case of demise.

What occurs for those who don’t get a prenup

When you don’t have a prenup, what occurs if you divorce will depend upon the legislation in your state. Each state has default legal guidelines that set up how the division of property is dealt with in divorces. These legal guidelines usually attempt to divide the property equally, however that’s not at all times the case, Palmer stated.

Any debt or new property acquired in the course of the marriage would even be divided in accordance with state legislation.

“When you tackle scholar mortgage debt throughout your marriage, that scholar mortgage debt may very well be thought of marital or group property, relying on what state you’re in,” Rodgers stated.

In some states, like California, if a pair doesn’t have a prenuptial settlement, they’re required to divide their property in half. In different states, similar to Iowa and Colorado, the distribution shall be proportional however not equal. Oftentimes in these states, features like incomes potential and monetary wants are thought of.

You each agree on a prenup, now what?

When you’re prepared to start out drafting a prenup, you every want a lawyer that will help you write or assessment it.

Ravdin first asks purchasers to fill out a worksheet the place they will lay down what they’re on the lookout for within the prenuptial settlement and use this as a blueprint for the draft.

“If it’s clear what they need or what’s acceptable to each of them, I can go forward and draft the settlement,” Ravdin stated.

The value of the prenuptial agreements course of will depend on your state and your lawyer. In lots of circumstances, prenuptial agreements begin from $1,000.

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