What Is a Virginia Prenuptial Agreement?
A Virginia prenuptial agreement is a legal contract created before marriage. It follows Virginia’s Uniform Premarital Agreement Act (UPAA) and must be fair to both spouses if the marriage ends as per Code of Virginia Section 20-107.3. Virginia uses an equitable distribution system in divorce, so property and debt are divided fairly but not always equally.
Couples wishing to determine how to handle property and finances if they divorce need a prenuptial agreement in Virginia. A prenup lays out information such as:
- Who will remain in the marital residence or how to divide proceeds if sold
- How to distribute investments, bank and retirement accounts, and debt
- Whether a spouse will receive alimony and the amount allocated
- How to divide life insurance in the event of a spouse’s death, as per VA Code § 20-150
How to Write a Prenuptial Agreement in Virginia
A valid Virginia prenup requires certain information to ensure enforceability under state law. The Legal Templates state-specific Virginia prenuptial agreement template has you covered.
- List demographic information: List both parties’ full legal names, addresses, and the names of any children from past or current relationships.
- Indicate marital vs. separate property: Cover which property each person will keep as their own and which will be shared. This can include homes, bank accounts, retirement savings, vehicles, and investments.
- Assign business ownership: If either person owns a business, state who will keep ownership during the marriage and in case of divorce.
- Disclose debts: Include any debts each person is bringing into the marriage, such as student loans, mortgages, car loans, or credit cards. Decide who will be responsible for each debt.
- Decide on tax liability: Specify whether you will file taxes jointly or separately.
- Designate marital home ownership: Decide which spouse will remain in the marital home, or if the property will be sold, how the proceeds will be divided. You can also include information on the division of household expenses during the marriage.
- Outline spousal support: Denote whether one spouse will receive alimony and the amount to be paid, or waive support altogether.
- Include additional clauses: You can include terms for special situations, such as how to care for a spouse who becomes disabled, how to leave property to children from a previous relationship, or how to handle future disputes.
- Have the document notarized: Virginia requires notary acknowledgment for a prenuptial agreement to be legal.
- Sign the agreement: Both parties must sign the prenup in front of a notary public or other approved official.
Virginia requires both parties to fully disclose their finances, including assets and debts. Failing to do so can invalidate the prenuptial agreement.
Sample Virginia Prenuptial Agreement
View a sample Virginia prenuptial agreement below. You can customize this template with our document editor and then download your completed agreement in PDF or Word format.
Legal Requirements in Virginia
Prenuptial agreements in Virginia are governed by Virginia’s UPPA, which provides guidelines for writing a court-enforceable document.
Signing
VA Code § 20-149 mandates that the agreement must be in writing and signed by both parties.
Unlike a Virginia postnuptial agreement, which is between two individuals who have already entered into marriage and goes into effect immediately upon signing, a prenuptial agreement is valid once the couple has legally married, as per VA Code § 20-155
Enforceability
Virginia courts uphold prenuptial agreements as long as they are fair to both parties and not unconscionable.
Financial Disclosure
Prospective spouses are required to provide a full financial disclosure of all assets and debts, or sign a written waiver of the right to receive disclosure. If it’s later discovered that a full disclosure did not occur and was not waived, or if there is evidence of coercion, a court can invalidate a prenuptial agreement, as outlined in VA Code § 20-151.
Excluded Terms
A prenuptial agreement can’t dictate issues related to child custody or support, which the court determines.
Attorney Representation
Virginia doesn’t require you to hire an attorney to write a prenuptial agreement. However, both parties should hire separate counsel to review the document before signing so their interests are represented. If both parties are represented by counsel, the agreement is more likely to stand up to a later challenge.
Spousal Support Waivers
Spouses are allowed to waive their right to alimony in a prenuptial agreement. However, the court will call into question a prenuptial agreement that leaves one spouse unable to support themselves.
Modifications and Sunset Clauses
A prenuptial agreement can only be modified or revoked following marriage via a written agreement signed by both spouses, as per VA Code§ 20-153. So-called sunset clauses allow you to specify a time or event that makes certain terms of the prenuptial agreement expire. For example, upon the tenth anniversary of the marriage so each spouse is protected in the early years of their union.
Marital vs. Separate Property
You can use the prenup to define which property will be shared (marital property) and which will stay separate. For example, a family inheritance or gifts can remain separate if clearly stated in the agreement.
Other Considerations
You can also add other terms to your prenup. For example, a confidentiality clause can prevent either spouse from sharing personal or business information. You can also include estate planning terms to leave property to children or other beneficiaries.
