A prenuptial agreement is essentially a legal contract between prospective spouses that becomes effective once they become married. The reason pre-nups are so beneficial is that they can provide significant savings in time and money if the couple should divorce in the future, since the issues a court would normally resolve are already addressed in the prenuptial agreement.
Some of the most common issues addressed in a Nebraska prenuptial agreement include:
- The rights and obligations of each spouse when it comes to joint and separate property, including the right to use, sell, lease, transfer, assign, exchange, or control and manage the property, and how the property will be divided in case of divorce, death, separation, or other triggering event.
- The modification or elimination of alimony. (Note that Nebraska courts may not enforce this provision if it means that the spouse being denied alimony would be eligible for public support.)
- The creation of a will, trust, or other instrument to fulfill the prenuptial agreement’s provisions in the event of the death or disability of either spouse.
- The disposition of, and ownership rights in, the death benefits from a life insurance policy.
- How and in what legal jurisdiction the agreement will be enforced.
- Any other obligation or personal rights the couple chooses to convey upon either spouse.
A Nebraska prenuptial agreement cannot be used to predetermine child custody or support matters, as these are issues left to a court to determine using a “best interest of the child” standard.
Under Nebraska’s Uniform Premarital Agreement Act, a prenuptial agreement must be in writing and signed by both spouses. It will not be enforceable if it was not executed voluntarily or if there was an issue of unconscionability
Although it is not a legal requirement in Nebraska, it is highly advisable for both spouses to be represented by separate legal counsel when drafting a prenuptial agreement. Not having the proper legal advice when entering into a pre-nup could be a basis for challenging the agreement down the road.
For over 40 years, your legal team at Koenig|Dunne has counseled clients in thousands of initial consultations, and we are here to ensure that your initial consultation provides meaningful answers to the questions that matter the most to you. Contact Koenig│Dunne today and schedule your free consultation with one of our experienced attorneys.