Getting married is a major life decision that no couple enters into lightly. Demonstrating this is the fact that more couples are choosing to enter a prenuptial agreement before saying, “I do.”
If you’re considering marriage, schedule a meeting with a Champaign prenup attorney to learn how this document can protect both of you and any children you may have today or in the future.
A prenuptial agreement is a legally binding contract. As such, it’s necessary for the parties to reach a consensus with regards to its terms. Most people only enter into one or perhaps two prenuptial agreements in their lifetime, and this makes it difficult to know what to include and how to define the terms in a manner that is mutually beneficial.
Accordingly, it is helpful to make mediation a part of the negotiations. This is especially helpful when each prospective marriage partner is working with their own attorney, which is advisable. Mediation ensures a more equitable outcome because it effectively levels the playing field.
In fact, that is what a qualified mediator is trained to do: Level the playing field. With regard to prenuptial agreements, this frequently means reassuring the spouse who has fewer assets that they are in a safe position in which their concerns can be heard. By obtaining facts concerning both parties’ financial situations and listening to the concerns of each, the mediator frequently is able to suggest solutions that neither the parties nor their attorneys had considered.
The mediation begins with a thorough discussion of financial matters that may include current income, future income, expected future inheritances, and the goals of the marriage for each partner. Ideally, these items will be discussed from the standpoint of envisioning a long and fruitful marriage.
From these discussions, the mediator will produce a term sheet. Each partner will give their input on the various terms. The term sheet can be quite wide-ranging and include provisions covering the event of a divorce and the financial decisions that will be made throughout the course of the marriage.
As the couple discusses and agrees upon the terms, the prenuptial agreement is created. After being reviewed by the couple’s lawyers, it can be signed and executed.
Consider Mediation to Finalize Your Prenup Agreement and Protect Your Assets and Income
Are you concerned about your assets and income and what may happen in your upcoming marriage? If so, contact a Champaign prenup attorney at (217) 531-2179 to discuss prenuptial agreement mediation.
"This blog is for informational purposes only and is not intended to create an attorney-client relationship. It is recommended that you speak to an attorney licensed in your jurisdiction before relying on the information in this blog."