Drafting quality premarital (sometimes referred to as “pre-nuptial”) and post-marital agreements requires experience, an attention to detail, and a full awareness of the current state of Indiana law. Our attorneys have the experience to appreciate the intent behind each particular premarital or post-marital agreement and are very conscious of the statutes and case law interpreting such agreements over the last 40 years. Prior to a parties’ marriage, a premarital agreement can protect each party’s individual assets going forward in time in the event of a dissolution of marriage or death. A premarital agreement can also protect both parties’ income and assets earned or accrued after the marriage if one or both parties are seeking this type of comprehensive protection. These agreements can eliminate anticipated problem areas that may arise months or even years after the marriage so that there is no question about how a particular problem should be resolved. Specifically and depending upon the wishes of the parties, prep-marital agreements can be flexible and deal with many issues in the event of dissolution or divorce and/or death. These agreements can protect property that a party brought into the marriage, along with any growth or increase in value associated with that pre-marital property. They can protect gifts or inheritances a party may receive during the marriage, even though these gifts or inheritances occur many years into the marriage. These agreements can also protect the income earned by each party after the marriage along with protecting all assets purchased by a party either from the sale of pre-marital assets or income earned during the marriage. Finally, these pre-marital agreements can make a party responsible for their own individual debts that were brought into the marriage or which were created by a particular party during the marriage.
In addition to protecting assets and income of the parties, a pre-marital agreement can allow for the gifting of property from one person to the other person during the marriage, as well as allow the creation of a Last Will and Testament, which overrides the terms of the pre-marital agreement.
The terms of a pre-marital agreement can identify and allow for the cancellation of the agreement in writing if the parties’ marriage has progressed to a point where the parties wish for this to occur.
Likewise, post-marital agreements can eliminate or resolve financial problems after marriage occurs if the resolution of those problems assists the parties in reconciling and renewing their marriage for the indefinite future. Under some circumstances, post-marital agreements may be used to resolve anticipated financial issues even if the parties are secure in their marital relationship.
Thanks to our current and broad knowledge of Indiana family law, the attorneys at Shilts & Setlak, LLC can also advise you in instances where your finances are such that a pre-or post-marital agreement may not protect your assets to the extent that you would like. We believe in honestly advising our clients of the protections an agreement can offer, as well as possible places where it may fall short of their hopes. This way, our clients fully appreciate the manner in which an agreement can protect them and, despite their best efforts, mayleave them open to financial loss.
Indiana favors properly drafted, clear and unambiguous premarital and post-marital agreements. At Shilts & Setlak, LLC, we use our nearly 60 years of combined experience in family law to assist you in creating a clear agreement that can withstand a challenge in court. Contact us today to learn more about how a well-drafted premarital or post-martial agreement can help protect your assets.