Prenuptial Agreements:The Good, Bad & Ugly

I do not think this is what Benjamin Franklin had in mind…

search.jpg

pre·nup·tial a·gree·ment- an agreement made by a couple before they marry concerning the ownership of their respective assets should the marriage dissolve.
  • Also known as a Premarital agreement or “prenup” is a fairly common legal step taken before marriage. A prenup establishes the property and financial rights of each spouse in the event of a divorce. Prenups are often used to protect the assets of wealthy spouses but also can protect family businesses and serve other important functions. FindLaw
  • Prenups can be GOOD, especially in a second marriage.  They can protect the rights of the children from the first marriage and serve a useful and legitimate purpose. Prenups can also define, with great specificity what happens in the event of a divorce or death of a party of the marriage.  Knowing your rights can be a very good thing.
  • Prenups can be BAD. If you agree to a bad deal and the process used otherwise complies with the requirements of a valid prenup; sufficient time between presentation, execution and the marriage; reasonable opportunity to have independent counsel of your choosing; and full financial disclosures, even a bad deal would be enforceable.
  • Prenups can be UGLY. It is a hard “sale” when asking your one true soulmate to consider what happens if your union is dissolved. Also, if the prenup is so one-sided that it is deemed unconscionable (totally unfair on its face) it can be invalidated.

Matthew Thompson is a Family Law attorney in Mississippi and reminds you of the words of Kanye West in Gold Digger, “if you ain’t no punk holla we want prenup.”

Follow the blog: BowTieLawyer. You may also contact Matthew with your family law case, question or concern at (601) 850-8000  or Matthew@bowtielawyer.ms

 

Always Get a Receipt: Proof of Payment

Cash is King, but only when you can prove you paid it!

IMG_8341.JPG

When a party alleges that the other has not paid their support obligations the Court looks to the payor to prove what was paid, not the payee to prove what was not. In simple terms, if you owed $500 per month in child support and I sued you for contempt and said you had not paid, that’s all I have to do, and the burden shifts to you to prove you did pay what was Ordered and owed. If you cannot prove it, you may be out of luck.

“But I paid cash…,”are famous last words. She is not going to admit that you paid cash or if you did it was because you owed her money, not that it was the child support payment.

Get a receipt. Everytime. Hand write it on notebook paper if you have to. Keep good records. How much was paid and on what date it was paid. Your wallet and your freedom, at least temporarily, may depend on it.

Matthew Thompson is a Family Law attorney in Mississippi and advises you to get a receipt. 

Follow the blog: BowTieLawyer Visit the websiteThompson Law Firm  You may also contact Matthew with your family law case, question or concern at 

(601) 850-8000  or Matthew@bowtielawyer.ms

 

9/11/01

Divorce, Child Custody & Child Support, Alimony, Contempt, Modification, Adoption and Appeals.

%d bloggers like this: