This question – do I need a pre-nup – can feel loaded, but when broken down, a prenuptial agreement can be appropriate and helpful for a variety of marital situations.

In Kansas, prenuptial agreements (sometimes referred to as “pre-nups”) are governed by the Kansas Uniform Premarital Agreement Act. The agreement is a contract between an engaged couple entered into contemplation of marriage. The agreement requires a full and complete disclosure of financial assets by both parties to the agreement. The agreement outlines how the parties will divide their assets, debts, liabilities, future inheritance, etc. in the event of death, divorce, or separation.

A prenuptial agreement must be entered into before marriage. Both parties must freely and voluntarily consent to the agreement’s terms. There can be no coercion and both parties must have legal capacity.  This often means both parties will meet separately with counsel to review and discuss the contract prior to signing. Because of the pre-planning involved in the financial disclosures, drafting, and reviewing, prenuptial agreements require pre-planning and discussion to ensure full agreement prior to the wedding bells ringing.

Although a binding contract, a prenuptial agreement can be a living document that changes with time upon written agreement by both parties. A prenuptial agreement can also be revoked by agreement of the parties. Despite the ability to change the agreement, the parties cannot contract away child support or future child custody. These matters will continue to be subject to Court intervention.

So, do you need a prenuptial agreement? Well,

• Do you have property interests or assets that require individual protection?
• Do you want to set clear expectations about the future?
• Do you want to achieve individual financial security?
• Do you want to simplify asset and property division in the event of divorce?

If the answer to any of these questions is yes, a prenuptial agreement might be a good tool to achieve your goals. Other reasons to consider a prenuptial agreement are second or third marriages, blended families, family held business interests, or excessive debts. If this describes your future family situation, it may be in your best interest to consider a prenuptial agreement. This is an opportunity for couples to preplan the difficult and often emotional decisions that follow major life changes such as death, divorce, or separation.

If you think you need a prenuptial agreement, please do not hesitate to reach out to one of our trusted attorneys to discuss your specific situation.  

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