Often times, the outcome of a divorce case is unpredictable. While judges are bound to follow the law, often times the interpretation of how the law will apply to the separation of property differs from one judge to another. Therefore, many parties seek a prenuptial or a postnuptial agreement to protect them from that uncertainly. With a properly drafted prenuptial (or post-nuptial) agreement, a party has more control over the outcome of their divorce case and the division of their assets than they would if they left this outcome in the hands of a judge or jury.
Prenuptial agreements can be both useful and effective in protecting assets or businesses acquired before a marriage, as well as protecting inheritances or gifts from others being treated as marital property.Prenuptial agreements are also useful in limiting or eliminating awards of alimony. They can also address issues such as attorney’s fees in the event of divorce, or in the event of challenges to a prenuptial agreement.
Postnuptial agreements are effectively a prenuptial agreement which is entered into AFTER the parties marry. They typically are entered into to define what property goes to which party, how current and future assets would be dealt with in the event of a divorce, and to reclassify income or assets to alleviate or eliminate a long and contested divorce.
So long as they are drafted properly, and meet certain requirements including full disclosure, prenuptial and postnuptial agreements are generally enforced in Georgia. Lisa Sowers has extensive experience drafting and negotiating prenuptial and postnuptial agreements, and frequently advises clients on when and in what circumstances they are necessary and advisable.