A prenuptial agreement, often referred to as a prenup or premarital agreement, is not a mark of distrust between two people who are planning to get married. It is just a contract made between future spouses dealing with various financial and family topics. It can include different clauses and guidelines about property, spousal support, debts, inheritance rights, and pet custody.
Some people think that signing a prenup means keeping in mind the idea of divorce, and it seems to be pessimistic. Well, understandably, nobody wants to end in divorce but having a reasonable and fair prenup protecting your interests is about feeling secure in a relationship and being honest to your partner. Therefore, it is a beneficial step for your marriage. In this article, I will try to answer the most common questions about prenuptial agreements.
What should you include in a prenuptial agreement?
Well, every prenup is unique but if you have no idea of a prenup there are some standard terms and clauses to add to your contract. Many of them deal with financial responsibilities, property, and debts, but there are also important clauses on child support and pets. The clause about separate debts reaffirms that the debts of each spouse must be considered separately and not be divided between spouses. The property agreement which is a part of prenup reaffirms that the separate property of each spouse or the business if one of them is a business owner, would not be considered as a marital asset.
The clause about each partner’s financial responsibilities clarifies the financial obligations of each partner during the marriage. This clause may be reasonable if, for example, you are a saver, and your partner is a spender and usually gambles for money, without playing free-to-play money train 2 free-play alternatives. One of the most beneficial things to include in a prenup is the separation agreement that lays down exactly which steps the spouses have to take after legal separation and before the divorce has happened.
If somebody in the couple has children from previous marriages or relationships, it is important to add to a prenup a section about them, the child support provisions after marriage and additional child property rights, etc. Sometimes it is useful to add to prenup clauses about work during the marriage or after it.
Can I Change The Prenup Agreement?
Until the spouses-to-be are married, they can change the prenup agreement at any time, rewrite it or add to it some clauses. After the couple is married, the prenuptial contract becomes a postnuptial agreement. And the postnuptial agreement or postnup has certain risks: even if it is legal, it isn’t legally enforceable in all American states.
How To Find A Professional Attorney For A Prenup?
If you consider creating a prenup, hire an experienced attorney who knows the statutes of your state and has already handled several divorce cases and prenups. The process of creating, reviewing, negotiating, refining, and completing prenup is so time-consuming and you should not wait until the last minute. You and your spouse need enough time, at least 3-6 months before the wedding, to negotiate it, clarify some clauses separately, or change it if needed.
What Are The Exact Benefits Of Prenups?
Prenups may prevent arguments between spouses and many additional legal fees in the event of divorce or separation. If there is a fair prenup that clarifies all the nuances of marriage, there will be no arguments between spouses about them. Even if both spouses are empathic people, ready to dialog and willing to take into account the interests of the partner, they could have different expectations of the marriage and its financial side. And one of the biggest benefits of prenup is reducing legal fees. If partners haven’t signed a prenup before getting married, they have many financial matters unsolved in the event of divorce and separation.
To sum up, a reasonable prenuptial agreement is a way to reduce many pressures in the relationship and have an honest discussion with your spouse-to-be about expectations of the marriage. However, preparing a prenup requires a lot of time. It is essential to create a clear and fair prenuptial agreement with the help of experienced professionals. If you need to get help drafting a prenup or have any questions related to family law, you can also contact me.
*The information on this website is for informational purposes only and should not be considered a substitute for legal, financial, or any other sort of advice. Viewing the information included on this website does not constitute an attorney-client relationship.