Kennedy Law Associates
COVID-19 UPDATE: Kennedy Law Associates remains open to serve the legal needs of our clients, and for consultations with potential clients, safely via teleconferences, Skype, or Facetime. Let’s all stay healthy and safe.

Protect yourself with a prenup

Prenuptial agreements (also known as "premarital agreements" or simply "prenups") often get a bad rap. They are sometimes seen as a way for a much wealthier spouse to unfairly shield assets from a poorer spouse in the event of a divorce. In this way they are viewed much less as protective and much more as punitive legal documents. For the vast majority of couples signing prenups before marriage, however, nothing could be farther from the truth.

Clearing the air

One of the most positive aspects of a prenup, aside from the wealth and asset protection benefits it offers down the road, is that even considering signing a prenup before marriage forces the couple to have an open, honest discussion about finances. It is estimated that around 70 percent of couples fight about finances, and economic issues play a huge role in ending the marriages of many of the 50 percent of couples who divorce each year.

It may initially seem counterintuitive, but the possibility of a prenup puts the couple on the same page where finances are concerned. In some instances, this is the only way that they would have such a frank discussion about what they are both bringing to the proverbial table economically, and what their goals are for the future.

Helping meet specific goals

In addition to allowing the couple to clear the air about their finances, there are also particular asset protection goals that can be met with prenuptial agreements. These include:

  • Keeping a family business or heirlooms in the family (by designating them as "separate property" in the event of a divorce and not subject to North Carolina's equitable distribution laws)
  • Protecting the inheritance of a child from a previous relationship
  • Setting out the terms of future alimony/spousal maintenance payments
  • Designating who will keep the marital home if the couple divorces
  • Assigning "custody" of the couple's pets should the marriage end (the same cannot be done for children, but pets are treated as property under the law, so they can be specifically discussed in a premarital agreement)
  • Much more

Prenuptial agreements aren't just for the very wealthy, though they are particularly useful when there is a great financial disparity between putative spouses. If you are considering signing a prenup, make sure that both you and your spouse are represented by effective legal counsel to ensure that the document you sign meets your needs and doesn't put you at an unfair disadvantage in the event of a divorce.

No Comments

Leave a comment
Comment Information
Contact Us

Tell Us Your Story

Bold labels are required.

Contact Information

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.


Privacy Policy

In Your Neighborhood

Are quality legal services available in your Charlotte neighborhood? Yes, our offices are located in Ballantyne, so you do not need to fight traffic driving uptown or deal with the inconvenience of paid parking decks. We are just minutes from the Ballantyne Corporate Park right off of I-485. An initial domestic consultation with Kennedy Law Associates is a positive step toward creating a roadmap to a better future.

14835 Ballantyne Village Way, Suite 225
Charlotte, NC 28277

Phone: 704-512-0619
Phone: 704-369-5600
Get Directions