The importance of a prenuptial or postnuptial agreement
Frances Bean Cobain, daughter of the late Kurt Cobain and Courtney Love, is getting divorced from her spouse of 2 years, Isaiah Silva. Silva is requesting $300,000 a year in alimony. Cobain stated she was open to paying alimony but wanted to protect her father’s estimated $450 million estate.
Obviously, Cobain could have protected herself better had she had a prenuptial agreement to list and determine marital versus non-marital assets and liabilities, as well as a provision for alimony. In prenuptial agreements, the parties can determine and agree to amounts of alimony for a party depending on the length of the marriage. Also important in the case of Ms. Cobain is the protection of her father’s estate. In a prenuptial agreement, the parties can determine, what, if anything, a spouse is entitled to from non-marital funds.
Oftentimes, parties decide to get married without a prenuptial agreement. This does not preclude the parties from entering into an agreement on how to divide marital and non-marital assets after the parties are married, without a prenuptial agreement. A post-nuptial agreement is entered after the parties have married, and gives the parties peace of mind if they neglected to have a prenuptial agreement, or have acquired assets or liabilities since the date of marriage.
McNeal Legal can help guide you regarding a prenuptial or postnuptial agreement and protect you and your assets.
Photos in this blog are courtesy of: pixabay.com and huffingtonpost.com