In North Carolina, premarital agreements (also called “prenuptial agreements” or “prenups”) are governed by the Uniform Premarital Agreement Act, found in Chapter 52B of the North Carolina General Statutes. A premarital agreement is a contract between prospective spouses, made in contemplation of marriage and is only effective upon marriage.
Premarital agreements allow for parties to contract for a variety of issues, including but not limited to the distribution of property in the event of divorce as well as the modification or elimination of alimony. Premarital agreements may also define what constitutes martial property and how it is created, which may differ from how marital property is defined by statute in North Carolina.
The requirements for a premarital agreement are simple. The agreement must be in writing and signed by both parties. As long as the agreed upon terms in the premarital agreement are not in violation of public policy or existing law, the premarital agreement should be enforceable. However, it is important to note that parties cannot agree to the inclusion of terms in a premarital agreement which would adversely affect child support.
If you are thinking about getting married, you may need to decide whether a premarital agreement is right for you. It is important to know that entering into a premarital agreement does not mean you expect that your impending marriage will fail or that the premarital agreement will facilitate a divorce. Premarital agreements are simply a way for parties to make arrangements in advance of their marriage, in writing, as to certain financial matters, and agree that the provisions will bind them regardless of the success or failure of their marriage.
The experienced lawyers at Gailor Hunt Davis Taylor & Gibbs, PLLC can assist you in making an informed decision and covering the issues that are important to you. These issues can include how to protect pre-marital assets or how income will be handled between the parties. Contact us today to learn more.
