Virginia Prenuptial Agreement Form

Entering a marriage is not only joyful and exciting but also scary. What if the relationship does not last forever? The Virginia Prenuptial Agreement Form is an official paper that protects both spouses’ assets if they eventually choose to divorce. Creating a prenuptial agreement template has become common in western countries, no matter how rich either party is. It guarantees the absence of undesirable finance-related fights if the marriage is over.

The use of a premarital agreement is common among people who have already experienced divorce and understand how complicated this process can be. You might also wish to create the document if you have minor children from a prior relationship and want to secure their inheritance.

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The probability of a divorce is not the only reason to sign this contract. In case your partner dies, the marital property will be distributed according to the terms and agreements you have established in the prenup.

Do not hesitate to use the help of a professional attorney who will study the conditions you intend to accept and the adverse party’s financial disclosure. Thus, you will protect both yourself and your loved one from deceit.

The contract can be amended or revoked if both spouses are willing to do so. In this case, they have to recreate the paper declaring new conditions.

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Virginia Prenup Laws and Requirements

The agreement compilation and operation is regulated by Title 20, Chapter 8, Section 20 of the Virginia State Law. Below is a review of its key premarital provisions.

Signing Requirements

As provided in Section 20-149 of the subject Title, both spouses have to append their signatures and write the current date under the written contract to make it enforceable.

Enforceability

You are not required to witness or notarize the paper in Virginia. Your prenup will gain validity upon marriage commencement. No additional conditions are required.

Court Refusal

The courts can nullify your prenup if either party proves that the document was initially signed under coercion. If the paper is unconscionable, meaning that one party has not provided accurate and complete money-related information, it will also be considered invalid.

What Prenups Can Cover

You will never see any provisions regarding custody and child support in a Virginia prenup. The explanation behind it is quite obvious: no court will decide on children-related issues in advance. To ensure that the joint minors are safe and protected, the judge will evaluate each particular family’s situation, parents’ income sources, job positions, living conditions, relationship with their minor, and the child’s preference for who to live with.

The things you also might want to include in your contract are as follows:

  • Managing and controlling marital property
  • Each spouse’s rights to establish trusts and funds
  • Debts and loans
  • Alimony and spousal support program
  • Sharing and running a business
  • Health insurance program
  • The state law regulating the agreement
  • And other issues that seem important for the couple to describe.

Property Type

In Virginia, the property is distributed based on whether it was acquired before marriage or after getting into a legal relationship. Depending on that, the property units are considered wholly or partially marital or separate. Generally, the court follows the principle of equitable division of the property.

Published: Feb 25, 2021