According to research from OnlineDivorce.com, 7% of married couples in Hawaii and throughout America entered into prenuptial agreements. A prenuptial agreement allows couples to make decisions about how their children are raised or whether either party to the marriage may be entitled to alimony if it ends. It also allows couples to determine what happens to their property if they get divorced, a spouse dies or another predetermined scenario occurs.
Furthermore, the language of the contract may stipulate where and how the divorce will be settled. It is important to note that there are limitations to what can be included in a prenuptial agreement. For instance, a couple cannot resolve child support, custody or visitation matters with such a document. However, judges will typically approve any plans that parents create assuming that they are in the best interests of the child.
The terms of a prenuptial contract cannot violate state and federal laws or violate other established public policies. One of the primary potential benefits to reaching such an agreement is that it may minimize the amount of time and money spent finalizing a divorce settlement. It may also reduce the amount of stress that a person may experience when attempting to end his or her marriage. Those who don’t create prenuptial agreements may draft similar types of contracts after the wedding takes place.
The use of premarital agreements may make it easier for individuals to protect their assets or to limit the amount of alimony paid to former spouses. A Honolulu attorney may be able to review a prenuptial agreement before it goes into effect to determine if it adheres to state law. Legal counsel may also be willing to review the agreement during a divorce proceeding to determine if its terms can still be enforced.
Contact Coates Frey & Hackett, AAL LLLC today to learn more about prenuptial agreements in Hawaii.