A prenuptial agreement is something that all couples should consider before they get married. This agreement outlines the terms that you and your partner must follow should you divorce or separate in the future. This provides you both with financial protection and security. Unfortunately, many couples overlook them in fear of being unromantic and rude. Some also don’t fully understand what they involve. But this can be a costly mistake to make that could leave you with very little should the worst happen. So if want to learn more about creating a prenuptial agreement, use the information in this guide to help you.
What should they include?
Prenuptial agreements should primarily include terms that relate to financial matters only. This can include debt, joint accounts, property distribution and university fees. Having an agreement in place ensure that these financial concerns are dealt with in a way that you are both comfortable with. Without a prenuptial agreement, the court will make the decision of how these issues are resolved. This could result in you paying more than you wanted to or could mean you a viable for your partner’s debt. Prenups should never include personal matters like child support, relationship terms, and family disputes. A judge will discredit any prenups that have non-financial based terms included.
When should you make one?
A prenuptial agreement is something that you and your partner will need to discuss at length until you reach a decision. So you should ideally give yourself a few months before getting one drawn up. Your marriage will need to take place at least 21 days after you create and sign your prenup. This might seem like a long time, but it gives you time to reconsider before making your commitment to each other. A judge might invalidate your agreement if you sign your prenup and get married in less time. This again could give them control over how your assets are divided. So it’s vital that you plan accordingly and give yourself the right amount of time to get your agreement drawn up and signed.
It will be beneficial for you both to get independent legal advice before agreeing to the terms laid out in your prenup. This should be done by two separate lawyers, who are both experienced in prenuptial agreements. Their experience and knowledge will be valuable and help you create a more thorough and concise agreement. They will be able to spot weaknesses in your agreement that you can resolve before you sign. Having legal advice will also ensure everything you include is legal and correct. Start looking for experienced and reputable lawyers to help get the process started.
Now you know more about what prenuptial agreements entail, you will hopefully feel more comfortable about making one. While some might consider them to be a bad omen, it’s wise to plan ahead just incase. Creating your agreement when there is no animosity will ensure you both get the outcome you want should your marriage come to an end.