QUESTION

Can you get a prenup on a 401 k before marriage?

Asked on Feb 28th, 2013 on Divorce - Florida
More details to this question:
My fiancรฉ expects me to sign a 401 k pre-nuptial before marriage, is that even possible? He doesn't even have a lot of money in it. After the wedding, is what acquired afterwards still considered part of the agreement?
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5 ANSWERS

Family Law Attorney serving Rogers, AR at Wright, Lindsey & Jennings LLP
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A pre-nuptial agreement, also commonly known as a pre-nup, is an agreement made before marriage to resolve issues of support and property division if the marriage later ends in divorce or by the death of a spouse. Pre-nuptial agreements require that it be in writing, signed, and acknowledged by both parties. There are various reasons why people might want a pre-nuptial agreement. One reason might be to protect property that has been in the family for a very long time. Another reason might be when someone is very wealthy and marries someone that is not as wealthy. The pre-nuptial agreement only becomes effective upon the marriage itself. Pre-nuptial agreements may not affect child support or children, so it is impossible to draft an enforceable pre-nuptial agreement to ensure you get custody of your children and the amount of child support that must be paid. The best way to draft a pre-nuptial agreement is to hire an attorney to ensure all the legal requirements are met. A pre-nuptial agreement can be drafted with respect to division of property upon separation, the amount of alimony or spousal support that must be paid, ownership and rights for the death benefit from a life insurance policy, and the making of a will or trust to carry out the provisions of the agreement, as well as any other matter not in violation of public policy or a criminal statute. First, the agreement must be entered into voluntarily, without fraud, duress or overreaching. Next, a full and fair disclosure by both parties as to their financial worth is generally required for the agreement to be valid. The agreement must also be fair and reasonable in its terms. There may be other legal requirements that an attorney can discuss with you prior to finalizing the pre-nuptial agreement.
Answered on Mar 04th, 2013 at 2:10 PM

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Family Law Attorney serving Chandler, AZ
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In Arizona, any assets acquired prior to marriage remain sole and separate property. In the case of the 401k, that means that any part of the account that he already had in his name prior to the marriage remans separate. Without a prenup, anything added to that account during the marriage is community property. With a prenup, the two of you can agree that anything added to the 401k during the marraige will remain separate property. This is true as to any asset/obligation - you can skip the prenup and then anything during the marriage will be community, or you can do the prenup (which is basically "opting out" of community property) and each of you will keep your assets and debts separate during the marriage. I recommend you consult with an attorney to discuss this in greater detail.
Answered on Mar 04th, 2013 at 2:07 PM

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A prenup typically covers income earned during the marriage. The 401k is his separate property. The question is whether he expects to be able to be able to contribute towards the 401k during marriage and keep it as his separate property.
Answered on Mar 01st, 2013 at 3:57 PM

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John Arthur Smitten
A prenuptial agreement is a comprehensive document that covers everything you bring into the marriage and acquire during the marriage.
Answered on Mar 01st, 2013 at 3:53 PM

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Commercial Contracts Attorney serving Boise, ID at Peters Law, PLLC
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It depends on what the agreement says. If it says that you have no interest in the 401k, then you have no interest in the 401k, before or after the marriage.
Answered on Mar 01st, 2013 at 3:53 PM

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