Fredericksburg Prenuptial Agreement Lawyers
Prenup Attorney Serving Stafford County, VA
Prenuptial agreements, also known as prenups, are legal documents that can help protect the financial interests of either spouse in the event of a divorce. If you are getting married, you may want to consider drafting a prenuptial agreement. If you have already proposed to your significant other and they are not on board with the idea, it is important to discuss the topic with them and help them understand the benefits of drafting a prenuptial agreement. At Butler Moss O'Neal, PLC, our Virginia prenup lawyers can help you draft an enforceable prenuptial agreement with the necessary legal elements to be upheld by a court in Virginia.
Ready to protect your assets with a prenuptial agreement? Contact us today at (540) 306-5780 to schedule a consultation with our experienced attorneys.
What is a Prenuptial Agreement?
A prenuptial agreement is a legal document that outlines the rights and obligations of each party in the event of a divorce or death. Prenuptial agreements can help protect your assets and also your future financial interests in the event of a divorce. This is particularly important for individuals who are getting married later in life, or who have a significant amount of assets or property.
Why Should I Have a Prenuptial Agreement?
There are many reasons why you may want to have a prenuptial agreement. If you have a significant amount of property or assets, then you may want to have a prenuptial agreement to outline your rights in the event of a divorce. You may also want to have a prenuptial agreement if you are getting married later in life, as this can help protect your future financial interests.
Do Virginia Courts Recognize Prenuptial Agreements?
Yes, Virginia courts will uphold prenuptial agreements if they are found to be valid and enforceable. To be valid, the prenuptial agreement must be in writing, signed by both parties, and must also be fair and reasonable. To be enforceable, the prenuptial agreement must also be filed with the courts, and must also outline certain specific information, including the date the agreement was created, the date the parties will wed, and the date the agreement expires.
What Should a Prenuptial Agreement Include?
A prenuptial agreement should include specific details about the property or assets of each party. For example, a prenuptial agreement should include information about the value of property and assets, as well as any debts or liabilities that each party has. Additionally, a prenuptial agreement should also outline how property will be divided in the event of a divorce or death. Prenuptial agreements may also include other details, such as whether spousal support will be granted, and whether either party will be responsible for any debts or bills during the marriage.
The Difference Between Prenuptial and Postnuptial Agreements
Prenuptial and postnuptial agreements both help protect assets and set financial expectations, but they are created at different stages in a relationship. Understanding the key differences can help you decide which is more appropriate for your situation.
Prenuptial Agreement:
- Before Marriage: A prenup is signed before you marry. It is designed to protect assets, outline financial responsibilities, and specify how property and debts will be divided in case of divorce.
- Proactive Protection: It’s often used when one or both partners have significant assets, children from previous relationships, or want to clarify their financial roles before tying the knot.
- Legal Requirements: For it to be valid, a prenuptial agreement must be in writing, signed by both parties, and fair to both individuals.
Postnuptial Agreement:
- After Marriage: A postnup is signed after the couple is already married. It serves a similar purpose as a prenup but is useful if circumstances change during the marriage (like financial growth, inheritance, or changes in family structure).
- When to Consider: If you didn’t create a prenup before marriage, or if there’s a significant life change such as a large inheritance or starting a business, a postnuptial agreement can help update financial expectations.
- Flexibility: It’s often used to address concerns or clarify financial responsibilities after marriage.
Whether you choose a prenuptial or postnuptial agreement depends on your timing and financial needs. If you’re unsure, consulting a lawyer can help you determine the best course of action.
Have questions about prenuptial agreements? Contact us at (540) 306-5780 for professional legal guidance and personalized assistance.
Prenuptial Agreements for Second Marriages
Second marriages come with their own set of considerations, especially when it comes to protecting assets and ensuring the wellbeing of children from previous relationships. A prenuptial agreement can provide peace of mind for both parties:
- Protecting Assets from Previous Marriages: A prenup can help ensure that assets you acquired before the second marriage—such as real estate, retirement funds, or family heirlooms—remain protected. This ensures that your first family’s inheritance rights are respected and that assets aren’t unintentionally divided.
- Planning for Children from Prior Marriages: If you have children from a previous marriage, a prenup can define how your assets will be distributed to make sure they’re passed on according to your wishes. This can avoid conflicts between your new spouse and your children after your death.
- Clarifying Financial Expectations: When entering a second marriage, financial expectations may differ. A prenup can provide clarity, particularly if one spouse has more wealth or debts than the other. This can help prevent future disagreements about finances or the division of assets.
For those entering a second marriage, a prenuptial agreement can provide clear guidelines and protect both your financial future and family legacy.
The Role of a Prenuptial Agreement in Protecting Family-Owned Businesses
A family-owned business is often a cornerstone of a family’s wealth and legacy, making it important to protect it in the event of a divorce. A prenuptial agreement can play a crucial role in safeguarding the business:
- Preventing Division of Business Assets: Without a prenup, a divorce could result in the business being divided or sold to satisfy financial obligations. A prenup can ensure that the business stays within the family and is not forced to split between spouses.
- Protecting Future Generations: For a family-owned business to thrive for generations, it’s important to protect it legally. A prenuptial agreement can ensure that the business is passed down to children or family members, avoiding disputes over ownership or control.
- Clarifying Ownership and Roles: A prenup can clearly define who will own the business after a divorce and how much involvement each spouse will have in the company. It can also protect any business interests or intellectual property created during the marriage.
In cases where one spouse is heavily involved in the family business, a prenup can help preserve the business for future generations, avoiding any complications or financial strain due to a divorce.
Schedule a Consultation with Our Prenup Lawyers in Fredericksburg
If you are getting married and would like to have a prenuptial agreement, we can help you draft an enforceable prenuptial agreement with the necessary elements to be upheld by a court in Virginia. At Butler Moss O'Neal, PLC, our prenup lawyers are here to help you with the drafting and negotiation of a prenuptial agreement.
Ready to Draft Your Prenup? Contact Our Team Now or call (540) 306-5780 to get started with a Fredericksburg prenuptial agreement lawyer.
What Happens if You Don't Have a Prenuptial Agreement and Get Divorced?
Divorce can be complicated, especially when it comes to dividing assets and determining financial responsibilities. Without a prenuptial agreement, Virginia’s laws will dictate how your property and debts are split, which could result in outcomes that neither party expected or wanted.
In Virginia, divorce follows the principle of equitable distribution, where marital property is divided fairly, but not necessarily equally. The court will consider various factors, such as the length of the marriage, each spouse’s contributions, and the economic circumstances of both parties. If you don’t have a prenup, the court decides how assets, including property and debts, are divided, which may not align with your personal preferences.
Without a prenup, you lose control over how your assets are distributed. For example, a business you started during the marriage or separate retirement accounts may be subject to division. Additionally, without a prenup, spousal support or alimony will be determined by the court, based on the marriage’s duration, living standards, and each spouse’s financial needs.
They made going through a divorce as pleasant as can be... they kept me laughing when I felt like crying.
- L.F.
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Can child support in Virginia be ordered to continue past the age of 18?
Yes. Section 20-124.2(C) of the Virginia Code provides that support will continue to be paid for any child over the age of 18 who is (i) a full-time high school student, (ii) not self-supporting, and (iii) living in the home of the party seeking or receiving child support until such child reaches the age of 19 or graduates from high school, whichever first occurs.
The court may also order the continuation of support for any child over the age of 18 who is (i) severely and permanently mentally or physically disabled, (ii) unable to live independently and support himself, and (iii) resides in the home of the parent seeking or receiving child support. In addition, the court may confirm a stipulation or agreement of the parties which extends a support obligation beyond when it would otherwise terminate as provided by law.
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Can a Virginia Court award a spouse military survivor coverage in a divorce?
Yes, Section 20-107.3(G)(2) authorizes the Circuit Court in a Virginia divorce to “order a party to designate a spouse or former spouse as irrevocable beneficiary during the lifetime of the beneficiary of all or a portion of any survivor benefit or annuity plan of whatsoever nature, but not to include a life insurance policy except to the extent permitted by Section 20-107.1:1.”
This includes the Survivor Benefit Plan, commonly referred to as SBP, which is available to spouse and former spouses of military service members.
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Can a Virginia court order that a parent pay college expenses for a child?Yes and no. Virginia law does not allow the court, on its own, to order that child support include the payment of college expenses. However, if the parents enter into a written agreement providing that one or both of the parents have to pay for college, the court can enforce the parents’ agreement.
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When can a Virginia Court issue a Protective Order, and what can a Protective Order Do?
Protective Orders 101
In Virginia protective orders can be issued between family or household members under Virginia Code Section 16.1-253.1 or if the parties do not meet the definition of family or household member, under Virginia Code Section 19.2-152.9. Family or household members is defined by the Virginia Code as, “the person’s spouse, the person’s former spouse, the person’s parents, stepparents, children, stepchildren brothers, sisters, half-brothers, half-sisters, grandparents and grandchildren, in-laws, individuals with a child in common and individuals that cohabitate within the previous 12 months.”
Under Virginia Code Section 16.1-253.1, a preliminary protective order in cases of family abuse may be granted in an ex parte proceeding. Ex partemeans that only the petitioner goes before a judge seeking a protective order. The Court may grant the preliminary protective order upon an affidavit or sworn testimony by the Petitioner. In order to grant the preliminary protective order, the court must find the following: The Petitioner was the subject of an act involving violence, force, or threat that resulted in bodily injury or places one in reasonable apprehension of death, sexual assault, or bodily injury. The events alleged by the Petitioner under Virginia Code Section 16.1-253.1 must have taken place within a, “reasonable period of time.”
When granting a preliminary protective order, the Court may impose the following conditions: prohibit acts of family abuse, prohibit contact between family members, grant possession of residence to petitioner, grant possession of vehicles, grant possession of companion animals as defined and prohibit either party from cutting off utilities to homes.
Within 15 days of the issuance of a preliminary protective order, the court under Virginia Code Section 16.1-279.1 must hold a full hearing on the matter. This means that the Respondent has the ability to hear the evidence against them, confront their accuser, cross-examine the accuser and put on any evidence they wish for the court to hear. At the conclusion of the full hearing, if the court finds that by a preponderance of the evidence that the Petitioner has proven they are the victim of family abuse, a final protective order, for up to two years may be issued against the Respondent. At the conclusion of a full hearing for a protective order in the Juvenile and Domestic Relations District Court, either party may appeal the outcome to the Circuit Court within 10 days of the ruling.
Individuals that do not meet the definition of family or household members may seek a protective order under Virginia Code Section 19.2-152.9, in the General District Court if they have been subjected to violence, force or threat.
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