What Should be Included in a Prenuptial Agreement?

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What Should be Included in a Prenuptial Agreement?

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When you are planning on getting married, the
furthest thing on your mind is your marriage
failing and getting divorced. Rather, you are
excited at the prospect of starting your new life
together as a married couple and spending the
rest of your lives together. Unfortunately, the
sad truth of the matter is a significant number
of marriages end up in divorce.

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Being prepared for every eventuality, including
divorce, is something every couple should
consider. Having a prenuptial agreement in place
can provide peace of mind, if for any reason your
marriage does not last. However, you do need to
be diligent in ensuring the right items are
included in order for the agreement to be a
binding contract.

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Items you will want in your prenuptial agreement
could include 1. Real Property The agreement
should clearly define what is matrimonial
property and what is separate property owned
prior to the marriage. If you own a house, you
may wish to keep it separate or protect its value
in the event of separation.

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2. Savings and Investment Accounts Any personal
savings and investments you have prior to your
marriage should be detailed in the agreement.

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3. Financial Planning and Obligations While
Married You can put provisions in the
agreement on how you, as a couple, intend to
divide financial obligations, retirement,
savings, and other essential aspects, such as who
will be responsible for what bills, or how much
each person is going to contribute.

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4. Liability for Debts The agreement can
include debts incurred before the marriage to
keep a debt-free individual free being held
accountable for a portion of those debts during a
divorce. Additionally, you may want to include
specific language about debts incurred while
married and who will be financially responsible
for them

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5. Estate and Inheritance Property If there are
family heirlooms, antiques, or other items of
value that are passed down from one generation to
the next, these should be listed in the
prenuptial agreement. If you expect to receive an
inheritance or other property from a relative,
you may want to include language that ensures
these are not included in a divorce.

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6. Support of Elderly Parents If you are
supporting your parents financially or allowing
them to live in a home you own, you will want to
include these in the agreement. 7. Child
Support/Spousal Support from a Previous Marriage
If you have children or a formal spouse you are
supporting, you will want to include the amount
you pay in the agreement so that there is full
disclosure.

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8. Division of Property You may be able to
include a division or property clause that
indicates how matrimonial property is to be
divided should you get divorced.

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Aside from these items, there are others some
couples choose to include to specify their
intentions, but these may not be legally binding
during actual divorce proceedings. To learn more
about prenuptial agreements or assistance in
drafting and creating a legally binding contract,
please feel free to contact Davies Law Firm at
[phone] today. Source-
http//www.daviesdivorcelaw.com/included-prenuptia
l-agreement/

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