PRENUPTIAL AGREEMENTS– MISSISSIPPI
PRENUPTIAL AND PREMARITAL AGREEMENTS
An often overlooked part of any asset protection plan is the Prenuptial or Premarital Agreement. These terms are used interchangeably to describe a contract entered into prior to marriage by the people intending to marry.
A premarital agreement is a written contract, and like any other contract it is important to consult with an experienced contract attorney to make sure that it performs as expected.
The content of a premarital agreement varies with the specific wishes of the parties. But its primary purpose is to specify how property and assets will be divided in the event of a divorce. This can include specific provisions concerning post divorce financial support obligations. They may also include specific terms for the forfeiture of assets in the event the divorce results from misconduct such as adultery. The advantage of a prenuptial agreement is that the consequences of a divorce are defined before getting married.
ARE PREMARITAL AGREEMENTS ENFORCEABLE?
Premarital agreements are enforceable under Mississippi law. A Mississippi court will not relieve a spouse of the burdens of a freely negotiated prenuptial agreement just because it has become more harsh than originally anticipated. Despite this fact, the enforce-ability of prenuptial agreements is still often challenged. However, prenuptial agreements are generally upheld provided they are properly drafted and executed, and provided that the terms of the agreement are followed during the course of the marriage.
If you are considering using a premarital agreement, it is best to review your personal situation with an experienced contract attorney. The lawyers at Danks, Miller & Cory have the experience to help you protect your personal assets in the event of a divorce. To discuss your specific situation and options, contact us by email or call us at 601-957-3101.