A prenuptial or premarital agreement is a legal document that couples sign before getting married or entering into a civil partnership. It outlines how assets, debts, and other financial matters will be divided in the event of a divorce or separation. In Wake, North Carolina, certain financial statements are required to be included in connection with a prenuptial or premarital agreement to ensure transparency and address any potential disputes. Here are the types of Wake North Carolina financial statements that may be relevant in this context: 1. Individual Financial Statements: Each party involved in the prenuptial or premarital agreement must submit an individual financial statement. This statement provides a comprehensive overview of their personal financial situation, including income, assets, debts, and liabilities. It helps establish a clear understanding of their individual financial standing before entering into the agreement. 2. Schedule of Assets and Liabilities: This statement is a detailed breakdown of all the assets and liabilities that each party possesses individually or jointly. It includes real estate, investments, bank accounts, vehicles, personal property, credit cards, mortgages, outstanding loans, and any other form of financial obligation. The schedule provides a snapshot of the couple's financial health and assists in the division of assets and debts if the relationship ends. 3. Income and Expense Statement: The income and expense statement highlights the individual's monthly income, including salary, dividends, rental income, alimony, and any other sources of regular earnings. It also accounts for monthly expenses, including housing costs, utilities, insurance, transportation, education, and discretionary spending. This statement aids in determining spousal support or maintenance arrangements if the agreement allows for it. 4. Business Financial Statements: If either party owns a business or has a stake in one, business financial statements are necessary. These documents provide an overview of the company's financial health, including its balance sheet, income statement, cash flow statement, equity position, and any other relevant financial information. It helps ensure that the business's value and potential future earnings are considered when structuring the prenuptial or premarital agreement. 5. Retirement Account Statements: If either party has retirement accounts, such as Individual Retirement Accounts (IRAs), 401(k)s, pensions, or other forms of retirement savings, account statements should be included. These records showcase the total value of the retirement accounts and assist in establishing how these assets will be divided in the event of a divorce or separation. In summary, Wake North Carolina financial statements, such as individual financial statements, schedules of assets and liabilities, income and expense statements, business financial statements, and retirement account statements, are crucial in connection with prenuptial or premarital agreements. These documents help promote clarity, fairness, and informed decision-making, ensuring that both parties have a complete understanding of their financial situation when entering into the agreement.
Para su conveniencia, debajo del texto en español le brindamos la versión completa de este formulario en inglés. For your convenience, the complete English version of this form is attached below the Spanish version.