Are you searching for an experienced prenuptial agreement attorney in Albuquerque, New Mexico? If so, you may be having mixed feelings about how a prenuptial agreement may impact your marriage.
You see, marriage is a time for celebration. It’s a time for friends and family. It’s a time for music, mirth, and dancing.
At times, discussing divorce during marriage season feels like a wet blanket over a happy occasion.
Unfortunately, although marriage usually starts with celebration, in America about 50% of first marriages end in divorce. The divorce rates increase to 60% for second marriages, and 73% of third marriages.
A prenuptial agreement attorney in Albuquerque, NM can help safeguard your current and future property.
At its core, a prenuptial agreement is a contract. A prenuptial agreement is signed before marriage and can cover:
Moreover, a prenuptial agreement can help to distinguish separate property from community property. At times, property acquired before marriage becomes co-mingled with community property.
Sometimes separate property becomes mixed with community property to a degree that the separate property cannot be traced. When this occurs, one’s separate property can transform into community property.
Additionally, sometimes a spouse’s separate property is paid or improved with community earnings or labor. When this occurs, the community may acquire an interest in the separate property.
An experienced prenuptial agreement attorney in Albuquerque, NM can help you draw a clear line in the sand between separate and community property. In doing so, the prenuptial agreement provides a financial parachute if divorce hits home.
Are you considering a prenuptial agreement? If so, it is important to consider if the prenuptial agreement that you are signing is enforceable.
In other words, the prenuptial agreement that you printed off Legal Zoom or the internet may not meet NM’s prenuptial agreement requirements or law. Moreover, the prenup may be unfair or unreasonable.
Here are some requirements to consider according to New Mexico’s Uniform Premarital Agreement Act.
First, the prenuptial agreement must be entered knowingly, voluntarily, and by free will. In other words, your spouse must understand what they are signing, and you cannot force the agreement.
Because of this fact, it is best practice for both parties to be represented by an attorney. The need for dual representation increases when one side has significantly more assets, education, or training. In other words, the need for two attorneys increases when the financial disparity increases between the two sides.
Second, a prenuptial agreement cannot impact child support, alimony, custody/visitation, a spouse’s choice of home, or career opportunities.
Third, the prenup cannot be unconscionable. For instance, a prenup cannot waive child support or alimony.
Fourth, both sides must receive fair and reasonable disclosure of property or financial obligations. In other words, both sides must understand the property that the prenuptial agreement covers.
Finally, a prenuptial agreement must be in writing, signed by both parties, and acknowledged.
As you can see, there are several hurdles that can lead to a prenuptial agreement being invalidated – or thrown out. Accordingly, it is essential to speak with an experienced prenuptial agreement attorney in Albuquerque, New Mexico.
A prenuptial agreement can cover almost any property/asset one acquires before or after marriage. What’s more, a prenup can also define each spouse’s debts or financial responsibilities.
New Mexico is a community property state. This means that most property acquired during marriage is split 50-50 upon divorce.
A prenuptial agreement enables both sides to determine which property becomes community or remains separate.
An experienced divorce lawyer generally handles prenuptial agreements. An experienced contested or uncontested divorce attorney understands New Mexico’s community property laws.
Moreover, an experienced Albuquerque divorce attorney understands common divorce issues. As such, an experienced divorce attorney can create a prenuptial agreement that avoids property issues upon divorce.
In doing so, a prenuptial agreement can play a major role in a divorce’s property distribution.
Are you searching for a top prenuptial agreement attorney in Albuquerque, NM? Our divorce team has experience handling a wide range of divorce issues.
Our legal team understands NM prenuptial agreement laws and requirements.
You need an experienced Albuquerque prenup lawyer.
Call (505) SANCHEZ.
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