Are you interested in keeping your property after a South Dakota divorce?
If so, here are 5 tips to keep in mind if you're thinking about a premarital agreement.
Tip #1 - What is a "premarital agreement" and will it "hold up" in South Dakota?
A "premarital agreement" is an agreement between prospective spouses made in contemplation of marriage and to be effective upon marriage. A premarital agreement will "hold up" in South Dakota if certain conditions are met.
Tip #2 - Can a premarital agreement be changed after you've been married?
Maybe. However, once you're married, a premarital agreement can only be changed or revoked by a written agreement signed by both spouses.
Tip #3 - Can a premarital agreement be used for distributing life insurance benefits?
Yes. A premarital agreement can be used to designate life insurance beneficiaries.
Tip #4 - Can a premarital agreement be used to impact a child support obligation?
No. A child support obligation cannot be impacted by a premarital agreement.
Tip #5 - Can we both go to the same lawyer to draft our premarital agreement?
No. Each person should get independent legal advice regarding a premarital agreement.
For more information about premarital agreements, download The Essential Guide to Child Custody and Divorce in South Dakota™.