Chisolm Trimble & Associates, LLC

Talking about a prenuptial agreement before getting married can feel uncomfortable, but for many couples, it is a practical and loving decision. Here is an honest look at what prenups do and do not do. A Prenup Is Not a Prediction of Divorce Many couples resist prenups because they feel it signals a lack of trust or confidence in the marriage. In reality, a prenuptial agreement is simply a financial plan similar to having insurance. It acknowledges that life is unpredictable and prepares both parties accordingly. What a Prenup Can Cover A prenuptial agreement can address how property and assets will be divided in divorce, whether alimony will be paid and in what amount, how premarital debt will be handled, and how a family business will be protected. What a Prenup Cannot Cover A prenup cannot predetermine child custody or child support. Courts in Georgia will always evaluate these issues based on the best interest of the child at the time of the divorce, and any prenup provision attempting to limit this is unenforceable. Both Parties Need Independent Counsel For a prenuptial agreement to be enforceable, both parties should have independent legal representation. An agreement signed without full financial disclosure or under pressure may be thrown out by a court.

The family home is often the most valuable asset a couple owns and one of the most contested in divorce. Here is how Georgia handles the family home during divorce proceedings. Is the House Marital Property? If the home was purchased during the marriage with marital funds, it is generally considered marital property and is subject to equitable distribution. If one spouse owned the home before marriage or received it as an inheritance, it may be treated as separate property though this can become complicated if marital funds were used to pay the mortgage or make improvements. Your Options for the Family Home In most divorces, the parties have three main options: sell the home and divide the proceeds, one spouse buys out the other's interest and keeps the home, or in rare cases involving minor children, the custodial parent remains in the home temporarily until the children finish school. What About the Mortgage? Whoever keeps the home will need to either refinance the mortgage in their name alone or assume the existing mortgage (if the lender permits). Simply having one spouse's name removed from the deed does not remove them from the mortgage obligation which is a common and costly mistake. Get a Professional Valuation Before agreeing to any settlement involving the family home, make sure you have a current, independent appraisal. Real estate values change, and an accurate valuation is essential for a fair division.