Premarital Agreements

In North Carolina, premarital agreements are governed by the Uniform Premarital Agreement Act found in Chapter 52B of the North Carolina General Statutes. A premarital agreement is an agreement between prospective spouses made in contemplation of marriage and to be effective upon marriage. Premarital agreements must be in writing and signed by both parties.

You and your prospective spouse may contract with respect to any rights you may have in the property of the other, how your property will be distributed in the event you separate, whether you or spouse will be entitled to receive alimony, and any other matter that is not in violation of public policy. If you are thinking about getting married, you may need to decide whether a premarital agreement is right for you.

What to Consider:

  • Asset Protection:

    Couples may have pre-existing assets (property, investments, inheritances) that they want to protect from being subject to marital property laws. 

  • Debt Protection:

    It can protect one spouse from being held liable for the other spouse’s pre-marital debts. 

  • Financial Clarity:

    It clarifies financial responsibilities during the marriage and in the event of divorce. 

  • Children from Prior Relationships:

    It can address the financial well-being of children from prior relationships. 

  • Future Uncertainty:

    It can provide a sense of security and peace of mind by addressing potential financial issues upfront. 

  • Separate property: Defining what belongs to each individual before the marriage. 
  • Marital property: Defining what will be considered joint property during the marriage. 
  • Spousal support: Establishing whether, and under what conditions, one spouse will support the other after divorce. 
  • Disposition of property: Outlining how assets will be divided upon separation or death. 
  • Debt allocation: Specifying which spouse is responsible for which debts. 
  • Life insurance: Addressing ownership and beneficiary designations.

Key considerations:

  • In writing: Premarital agreements must be in writing and signed by both parties. 
  • Voluntary: Agreements must be entered into voluntarily, without duress or coercion. 
  • Full disclosure: Both parties should fully disclose their assets and financial obligations to each other. 
  • Fairness: The agreement should be fair and reasonable to both parties. 
  • Legal advice: It’s crucial for both parties to have separate legal counsel to ensure they understand the agreement’s implications. 
  • Time: It’s advisable to have the agreement drafted and reviewed well in advance of the wedding date.