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Prenuptial Agreements are two-sided contracts signed before a couple is married. It outlines each spouse's assets and debts, and expected future assets and debts, and how they will be managed if the partners choose to part ways, voluntarily or by death.

A prenup cannot be signed AFTER the wedding takes place. Prenups are only valid if they are completed (i.e., signed) before getting married. However, you're not SOL if you are already married. You can consider getting a postnuptial agreement (a.k.a. postnup) instead of a prenup.

For example, let's say John (breadwinner) and Jennie (stay-at-home mom) have a prenup with a lump sum clause of $30,000. This means that, upon the marriage coming to an end, John must pay Jennie $30,000. Keep in mind this is not alimony; it's separate from that.

It typically lists each person's assets, debts, and outlines how they'll be handled should the couple divorce later on. Prenups can be a valuable financial tool. While they may be difficult to think about while planning a wedding, prenups can provide comfort in knowing you'll be protected.

Legal Aid of NC prioritizes services for families whose income is under 125% of the Federal Poverty Level, and families cannot have assets that exceed twice the income limit (for example: a family of 3 could not have more than $52,000 in assets).

The durable power of attorney must be signed and acknowledged by the principal in the presence of notary public. You must be at least 18 years of age, mentally competent, and have capacity when the durable power of attorney is signed.