HOOMA SHAH ESQ. is the Founding and Principal Attorney at THE SHAH LAW FIRM, LLC in Clayton. She is an experienced Family Law Attorney and serves clients in both Missouri and Illinois. Before opening her own practice, she clerked for two Family Law Judges in Pennsylvania, which exposed her to a broad range of family law issues and taught her how to analyze a case from a judge’s perspective, which is highly beneficial in procuring a successful outcome on behalf of her clients.
WHAT IS A PRE-NUPTIAL AGREEMENT? A pre-nuptial agreement is simply a pre-marital contract entered into prior to a marriage that contains provisions as to what will happen to each party’s assets and/or debts in event of death, separation or divorce.
You have been divorced before. Enough said. You have separate property: In the event of a divorce, property that was acquired prior to the marriage would normally be subject to community property or equitable distribution laws. A pre-nuptial agreement would prevent this. Assets that can be designated as separate property pursuant to a pre-nuptial agreement can include real estate, trust funds, business interests, investments and/or retirement/pension accounts. Debt Protection: A pre-nuptial agreement can prevent a person from getting saddled with the other party’s debts, especially if the debt that was accrued solely by one party prior to the marriage.
IF YOU ARE CONSIDERING A PRE-NUPTIAL AGREEMENT: Do not give it to the other party to sign the day before or the day of the wedding. Give the other party the opportunity to review the pre-nuptial agreement with an attorney of their choosing. Hooma also has a long-standing commitment to domestic violence advocacy. Currently, she is assisting domestic violence victims as a volunteer attorney at The Crime Victims Center in St. Louis. She also recently obtained certification as a Guardian Ad Litem and is qualified to represent a child’s interests in family law disputes. Hooma has Bar Admissions in Missouri and Illinois.
I N F O R M AT I O N
People who have been previously married, have children from a previous marriage/relationship or have accumulated substantial assets should seriously consider entering into a pre-nuptial agreement if they are considering marriage. Additionally, in the event of a divorce, a pre-nuptial agreement can significantly reduce the time and expense associated with a divorce proceeding.
WHEN SHOULD YOU CONSIDER A PRE-NUPTIAL AGREEMENT?
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any people mistakenly assume that pre-nuptial agreements are only necessary for the rich and famous. In truth, having a pre-nuptial agreement in place prior to a marriage is immensely beneficial to a much greater demographic.
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You Want to Make Provisions Regarding Maintenance (Alimony): This is especially important if one party earns significantly more than another party. For instance, prior to her marriage to Kevin Federline, Britney Spears had him sign a pre-nuptial agreement. When they divorced a few years later, Kevin received only a small percentage of her reported $100 million dollar fortune. Smart move. On the other hand, people like Jeff Bezos, Paul McCartney and Madonna did not have a pre-nuptial agreement in place when they married and literally speaking, they paid a price for this oversight.
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Thinking of Remarrying? Consider a Pre-nuptial Agreement.
You Have Children: A pre-nuptial agreement can help you protect or preserve property for your children from a previous marriage/relationship. Without one, a surviving spouse might have the right to claim a large portion of the other spouse’s property, leaving much less for the kids.
