What Does a Vermont Prenuptial Agreement Cover?
Prospective couples usually look forward to the best moments in marriage without a second thought for a divorce. But throughout the lifetime of the civil union, disagreements will likely arise, leading to a divorce.
Although it doesn’t sound romantic, the primary purpose of a prenuptial agreement is to prepare for a divorce. Through a prenup, couples can decide how to resolve complex financial aspects of a relationship, such as assets and property.
Here we highlight what a prenuptial contract entails and what goes into a Vermont prenuptial agreement.
Premarital Agreements in Vermont: An Overview
Vermont is one of the few states that have NOT adopted the Uniform Premarital Agreement Act code. Instead, Vermont uses state jurisdiction to harmonize premarital contracts between couples.
According to the state jurisdiction, a prenuptial agreement is a legally binding contract between two future spouses. It highlights a road map of how couples will share their assets should they divorce or death strike.
What Does a Prenuptial Agreement Cover in Vermont?
A carefully-crafted prenuptial agreement addresses the complex issues that arise during divorce or legal separation. It should also handle couples' specific assets and how they'll share their assets should their legal union end.
Here’s what a prenup in Vermont covers:
- The rights and obligations of spouses regarding ownership of marital property
- The rights of both spouses to sell, transfer, use, control, or manage the marital property
- The rights of each spouse regarding wealth sharing if they divorce or separate
- The right to obtain spousal support in case of divorce
Who Qualifies for a Premarital Contract?
A prenuptial agreement is ideal for any prospective spouses before marriage. If your future spouse has a large debt bill, you should consider having a prenup to cushion your assets against future liabilities. If you wish to help your spouse offset debt bills, a prenup also enables you to specify how you’ll do it.
A prenuptial agreement is also a must-have if you bring many assets and property into the marriage. You would be at peace, knowing your personal property will be safe if legal implications arise later.
If you have children from a separate marriage, you may also have plans to secure their inheritance.
If you divorce your current spouse, a prenup will be your best bet to ensure their heritage.
Vermont Prenuptial Agreements: Child Support and Custody
The state jurisdiction in Vermont does not provide a clear guideline on establishing child support and custody. However, that doesn’t mean couples cannot include provisions for child support in their contract.
Couples can, therefore, determine how to administer child support and custody if they divorce. If they can't reach a fair conclusion, the courts will decide who will secure the child's custody and grant the right to support, considering the child’s best interest.
Are Premarital Agreements Enforceable in Vermont?
Yes. Vermont follows the state’s jurisdiction on marriages to enforce premarital contracts. An enforceable prenup in Vermont should meet the following conditions:
The contract should be in writing and signed by both spouses. A verbal or oral agreement may not stand the validity test in the Vermont courts.
Both parties should enter the contract voluntarily through mutual consent. There should be no evidence of undue influence, coercion, manipulation, or cruelty when entering the contract.
A premarital contract should also be reasonably fair to both parties. For instance, if you exclude the alimony clause in your agreement, your spouse should be financially independent without seeking public assistance.
A prenup also requires full disclosure of your spouse's final information, including assets and liabilities.
If you are looking for legal assistance in drafting prenups, download our free Vermont prenuptial agreement form today.