Mississippi Prenuptial Agreement Laws

Mississippi, or The Magnolia state as it is commonly referred to by its inhabitants, recognizes both fault and no fault divorces. Pretty straight forward as far as Mississippi divorce laws go. This being said, it’s important to know that in this state, preparing for marriage, even before any signs of divorce should be done and specifications and details under family law statutes should be adhered to. Preparing for life after a marriage isn’t something that everyone always does when planning the happiest day of their life, but it should be.

 

Prenuptial Know How
A number of states currently treat premarital agreements and marital agreements under different legal standards, with higher burdens on those who wish to enforce marital agreements.  However, the Uniform Premarital and Marital Agreements Act treats premarital agreements and marital agreements under the same set of principles and requirements. This Act was initially drafted in 1983 but only very recently passed in 2009. This being said, the Uniform Premarital Agreement Act has been passed in 46 states, Mississippi is not yet one of them.

What to Know About Mississippi Prenups
Prenuptial agreements are upheld in Mississippi only where it is shown that both parties in question, fully disclosed all of their assets. This allows for fairness in execution through the courts system when the filing is brought before the judge. Generally, fairness in execution is accomplished by giving the non-drafting party the opportunity to have the agreement reviewed by an attorney of his or her choosing prior to execution.

Keeping Things Fair
In many cases, debts are brought into a marriage as well as assets.Without a prenup, creditors can sometimes turn to marital or community property to satisfy the debts of just one spouse. However, a prenup can be used to limit liability for each spouse’s debts. If either spouse’s property is something of sentimental value, it is important that you specify as such in the prenup. Having clear guidelines as to what belongs to who, keeps things in order and does not lead to any dispute should the marriage be dissolved. Without a prenup, state law will dictate how your property will be divided if you ever divorce. These divorce laws may dictate a result that neither of you wants. A prenup can be used to establish certain and specific rules for property division and avoid potential disagreements in the event of a divorce.

Mississippi divorce laws are some of the most straightforward and easy to follow. This being said, knowing what is in store for you as a spouse before the event of a dissolution of a marriage is a good thing to do. One of the best policies is to be as amicable as possible. We are big believers in amicable divorce and wrote a fantastic blog on amicable divorce unity that is a must read. An amicable divorce means splitting assets and property as needed and make it fair. There are laws and stipulations to anything that is involved, so having proper documentation is a safe way to make sure that everything is done to the letter.

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