A couple planning a wedding should consider planning for the legal issues of marriage. This often includes merging financial assets, creating wills and power of attorney documents, and for many, a prenuptial agreement.
In 1986, Virginia enacted the Premarital Agreement Act, which allows marrying parties to enter into agreements regarding their “real or personal property, including income and earnings.” Agreements under this law are also referred to as prenuptial agreements. Often, the goal of such an agreement is to reduce the potential for conflict and unnecessary financial burden in the event of divorce. By defining what will happen with asset division and spousal support in advance of married couples have the opportunity to consider the financial and legal ramifications of marriage before saying “I do.’”
Virginia law requires a prenuptial agreement to be voluntary, in writing, and signed by both parties. It also establishes certain requirements for the content of such agreements and requires disclosure of property and financial obligations prior to marriage in order to be enforceable.
In creating your premarital agreement, Virginia law allows couples to address a broad spectrum of issues. The most common concerns addressed in a premarital agreement are:
In practice, the only matters that cannot be included are agreements that would violate public policy or criminal law. A married couple has a very wide latitude to define and reach an agreement on the issues that will be most important to building a secure foundation for their marriage.
After marriage, a premarital agreement may be amended or revoked only by a written agreement signed by both parties. Under Virginia law, married couples may enter into agreements with each other regarding their marital assets and obligations in the same way and to the same extent as prospective spouses.
To schedule an initial consultation with the best Fairfax Premarital Agreement Lawyer from Curran Moher Weis who can assist you in negotiating and drafting a sound premarital agreement as many couples in Fairfax, and nearby, please contact our offices at (571) 328-5020 or request a consultation.