Prenuptial agreements are important documents in Louisiana family law matters. Contact our Shreveport prenuptial agreements lawyers at Knight Law Firm to schedule your consultation by calling (318) 722-8765 today.
Prenuptial agreements are legal in Louisiana and can be enforced as long as certain requirements are met. A prenuptial agreement is a legal document that outlines how property is owned and divided through marriage and in the event of a separation or divorce. While “prenups” sometimes have a negative connotation, they can be an essential tool to protect the interests of yourself, your children, and your financial future.
These agreements can help parties avoid complicated (and expensive) legal problems when property must be divided during a divorce. Although signing a prenup might not seem romantic in preparation for a wedding, such an agreement can actually strengthen a marriage by defining how property is held and avoiding future fights over property division. To learn more about how prenuptial agreements work in Louisiana, contact us to schedule a case evaluation.
What Is a Prenuptial Agreement?
Prenuptial agreements are written contracts between two people in preparation for marriage. These agreements describe how assets and debts of either spouse will be handled in the event of a divorce, separation, or death of a spouse. The prenup is a legal document that is signed before marriage and becomes effective on the marriage date. A postnuptial agreement, meanwhile, is essentially the same as a prenup but is agreed to after the wedding while the parties remain married.
A prenuptial agreement will generally address important topics such as:
- How assets will be valued
- How assets will be distributed
- How debts and liabilities will be divided
- Whether either spouse needs to reimburse the other for anything
- How spousal support will be handled if a divorce occurs.
Prenuptial agreements can only address property and financial issues. They cannot dictate how child custody and child support matters are handled after a marriage ends.
A prenuptial agreement does not create a recipe for divorce, as some claim. Instead, prenups can protect a couple’s property and assets by opening up communication about these issues. The process of creating a prenuptial agreement allows both sides to review the assets and debts involved with their relationship and encourages communication about financial concerns. Sometimes, when these issues get ignored or hidden, problems arise later during marriage. In a way, prenups help parties address potential property disputes before the marriage and clear the way for a healthy partnership.
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How Do Prenuptial Agreements Work in Louisiana?
Louisiana is a community property state, which means divorcing couples are required to split their marital assets equally upon dissolution of the marriage. Without proper planning, this can have unexpected consequences for either spouse.
However, parties can avoid the typical 50/50 split by entering a contract to divide their property, assets, and liabilities in different ways. This is where the prenuptial agreement comes in. A prenuptial agreement, or matrimonial agreement under Louisiana law, can be signed before marriage or during marriage (making it a postnuptial agreement).
There are no rules requiring how parties must divide property through a prenuptial agreement. However, courts still have authority to reject the terms of a prenuptial agreement in some circumstances. Louisiana law requires a full and fair disclosure of each party’s assets and liabilities before a prenup is signed. That is, each party must not conceal any assets from the other – there must be full transparency. Failing to disclose assets or debts can result in the agreement being challenged and invalidated.
To be legally valid and enforceable, a Louisiana prenuptial agreement must also meet the following requirements:
- The agreement must be in writing
- Both parties must sign the agreement
- Both parties must be of legal age to sign the contract
- The agreement must be properly witnessed and notarized
Additionally, a prenup should be filed with your local parish’s conveyance office. When real property is included in the agreement, the prenup should also be recorded in the parish where that property is located.
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How Do I Know If I Should Get a Prenuptial Agreement?
Many people think prenuptial agreements are only for those with great wealth, significant assets, or vast real estate holdings. On the contrary, anybody can enter into a prenup if they want to define how assets and debts should be handled in the event of divorce. The process encourages future spouses to work together and plan for the future. In preparing for what happens should a marriage end, couples can actually strengthen their bond and facilitate an open and honest financial relationship together.
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Can Both Parties Use the Same Lawyer for a Prenuptial Agreement?
Each party will have their own individual interests to maintain through a prenuptial agreement. This means a lawyer will have a conflict of interest if they represent both sides entering into a prenuptial agreement. In the interests of fairness and justice, each side should hire its own lawyer to prepare and review the terms of any prenuptial agreement. If you are considering the process or your spouse has already hired a prenuptial agreements lawyer, our Shreveport prenuptial agreements lawyer can help answer any questions you might have.
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Contact a Shreveport Prenuptial Agreements Lawyer Today
If you and your spouse own separate assets, debts, and property before marriage, it is wise to think about how those issues should be handled in the event of divorce in Louisiana. Failing to plan for the future can be costly. Prenuptial agreements can make sure you and your spouse both have peace of mind regarding your property interests. Contact Knight Law Firm today to schedule your consultation with a Shreveport prenuptial agreements lawyer.
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