General Information on Prenuptial Agreements

Prenuptial agreements or Prenups for short, control the rights and property of a married couple going through a divorce. This is a sensitive subject to bring up to your future spouse as it can seem rather unromantic and personal. What you need to understand is that to protect yourself and your future spouse in the unfortunate circumstance of a divorce, you need to both sign a prenup, there is unfortunately no way around it. Before coming to an attorney for the prenup remember these steps to ensure the best possible outcome with the least money wasted. 1. Talk to your future spouse as soon as possible regarding this document; 2. Agree on the specific terms listed below; remember to be truthful and open about your finances; 3. Create an outline of you and your fiancé’s goals

Couples seeking a prenup are simply trying to clarify their financial rights and responsibilities, if they decide to divorce. Though this might seem unreal now, it might be an unfortunate possibility down the road. Though it’s ominous to speak about a possible divorce right before your marriage ceremony, it is a necessary discussion to have. The reason for this conversation is simple. State laws will often muddle the rights of the couple and could lead to unwanted results i.e. all martial property and assets will be divided equally; debt of the other spouse may be split equally; etc.

A typical prenup will cover 1. The couples information e.g. age occupation, etc.; 2. Parties’ financial disclosures; 3. Provisions that all separate property will remain separate during the marriage; 4. Provisions confirming that each person is responsible for his or her own premarital debts; 5. A waiver of the surviving spouse’s legal right to claim a share of the other spouse’s separate property at death; 6. Provisions spelling out how property will be divided in the unfortunate event of divorce; 7. A provision requiring each party to sign documents after the marriage reaffirming any waivers contained in the prenup (rights to retirement benefits, interest in real estate); 8. Provision how household expenses will be paid.

Remember to bring up this subject gingerly when first discussing this with your future spouse, he or she might not feel the same way about this contract. Begin the conversation and convey your feelings and goals 3-6 months before your wedding date. Deciding on this topic early will insure a healthy marriage down the road.