With the current divorce rates most couples want to protect their interests by signing a prenuptial agreement before their wedding. In the state of South Carolina these prenuptial agreements are honored as long as they comply with the Uniform Premarital Agreement Act.
The Definition of a Prenuptial Agreement
A prenuptial agreement is a document that describes how property and assets are divided in case of a divorce. This document is signed by both parties and will be effective when the marriage is consummated.
What to describe in a Prenuptial Agreement
The more detail the couple can describe and agree the easier settlements can be made in case of a divorce. Especially when children are involved in the marriage it is important to describe the responsibilities of each party in detail.
The things to be described in a prenuptial agreement can be found in the list below.
• Description about the deviation of mutual property
• Any descriptions in a will
• Description about the deviation of mutual assets
• Description about death benefits deviation
• Description about spousal support
• Description about each party’s property which was brought into the marriage
• Description about each party’s assets that are brought into the marriage
• Description of the liabilities incurred in the marriage
• Description of life insurance rights
• Which law jurisdiction applies to the agreement
The negotiation and preparation of a prenuptial agreement needs to be done with the assistance of experienced family law attorneys. The law on this subject too complex to understand and you might end up with an agreement that simply does not meet the expectations of the couple and the South Carolina law.
About the Uniform Premarital Act
On July 1, 2009 the Uniform Premarital Act is enacted in the state of South Carolina. This act states that premarital or prenuptial agreements are only enforceable if they are in writing and signed by both parties. It is permitted to predetermine ownership, in contemplation of divorce, of the marital and separate assets and property.
What are Invalid Provisions?
The South Carolina law describes some provisions that cannot be included in a prenuptial agreement. The invalid provisions are listed here;
• Any provisions that promote divorce
• Any provisions that offer financial benefit in case of divorce
• Any decisions made by children regarding custody and child support
• Any provisions that are related to nonfinancial matters, like chores and raising of children
If any of the above invalid provisions are included in the prenuptial agreement then the court of South Carolina will treat the agreement as non-enforceable.
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