Premarital and postnuptial agreements and their enforceability in Mississippi.
The prenuptial agreement is an often overlooked part of any asset protection plan. It is a written contract entered into before marriage by the people intending to marry.
The content of a premarital agreement varies with the specific wishes of the parties. However, its primary purpose is to specify how property and assets will be divided in the event of a divorce. This can include specific provisions concerning post-divorce financial support obligations. Agreements may also include specific terms for the forfeiture of assets in the event the divorce results from misconduct such as adultery. The advantage of a prenuptial agreement is that the consequences of a divorce are defined before the marriage.
Premarital agreements are enforceable under Mississippi law. A Mississippi court will not relieve a spouse of the burdens of a freely negotiated prenuptial agreement just because it has become more harsh than originally anticipated. Despite this, the enforceability of prenuptial agreements is still often challenged. Prenuptial agreements are generally upheld provided they are properly drafted and executed, and provided that the terms of the agreement are followed during the course of the marriage.
If you are considering using a premarital agreement, it is best to review your situation with an experienced contract attorney. We have the experience to help you protect your assets during a divorce.
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