Comprehensive Guide to Louisiana Prenuptial Agreement
Gone are the days when mentioning a prenuptial agreement triggered unpleasant emotions. The contract was surrounded by stigma, as people viewed it as a bad influence in marriage. Times have changed, and today, more than 50% of couples ask for prenups right before marriage.
Besides helping couples protect their premarital and marital properties, a prenuptial agreement allows spouses to be open and honest about their financial capabilities. And this goes a long way in building trust among couples while encouraging a happy union.
Even better, signing a prenup saves couples from fights and property-division litigations during a divorce. It gives them a chance to decide property division rather than relying on the court to determine for them. Discover more about a prenuptial agreement in Louisiana.
Why Do You Need a Louisiana Prenuptial Agreement?
A prenup allows couples to outline how they want their marital properties to be divided in the event of a divorce. It is also a chance for spouses to open up about their financial capabilities and liabilities. If you are skeptical about getting a prenup, there are reasons to consider the idea:
- The contract protects you against creditors looking to collect against your spouse.
- A prenup offers financial protection, especially if you own more assets than your spouse.
- If one of you has to sacrifice your job to stay at home, Louisiana's prenuptial agreement ensures that they are financially safeguarded.
- The contract protects your children’s assets and inheritance
These benefits show that prenuptial agreements are not meant to kill marriage but strengthen them. Couples will have more peace of mind knowing that their financial interests are protected to focus on building their relationship.
A prenup is a chance for spouses to open up about their assets ownerships. Although the discussion can be uncomfortable at first, holding such an honest discussion on property and finances improves communication and trust in marriage.
In addition, you bypass the state's property rules by signing a prenup. Louisiana laws require properties, assets, and debts to be divided equally, which can be unfair to one spouse. When you sign a prenup, you don't need to count on the court to decide how assets will be distributed.
The prenuptial agreement explains if the spouses are among the beneficiaries of each other's life insurance policies and what will happen to their marital assets if one dies. Moreover, it discusses if they both wish to retain their retirement accounts, both individual and joint, in the event of a divorce.
What Makes a Prenuptial Agreement in Louisiana Enforceable?
The state's prenup laws and provisions state that prenuptial agreements should be in writing and signed by both parties. The contract should also be signed by two witnesses and notarized.
Couples should sign and collect all the signatures before marriage, but the prenup only becomes effective after the actual wedding. Moreover, spouses should record the prenup in their parish's conveyance office, and if you live in different parishes, you should both record the agreement in your respective parishes. If there are properties involved, you should record the agreement in the parish where the properties are located.
The court may terminate a prenuptial agreement invalid if:
- One party was not mentally competent when signing the agreement
- One or both spouses did not disclose adequate information regarding the ownership and liabilities of their assets
- One spouse was threatened to sign the prenup
- The prenuptial agreement only seems to favor one party
- The couple did not leave enough time between signing the prenup and the wedding date
- It will be a great idea to seek legal counsel to guide you when signing a prenuptial agreement in Louisiana. This will protect you from violating the state's requirements.
Check our above form for free- Louisiana prenuptial agreement form.