If you come to the conclusion that creating a prenuptial agreement would be in the best interest of you and your soon-to-be spouse, you shouldn’t waste any time taking action.
Before you take the first step, you must first have a clear idea of what you want to include in your prenuptial agreement. Here are a few things to consider:
- Distinguish between martial and separate property: This is one of the primary benefits of a prenuptial agreement. It allows you to specify what you’re bringing into the marriage, as to ensure that it’s not subject to property division in the event of a divorce.
- Protection from debt: Just the same as assets, one or both people may bring debt into the marriage. A prenuptial agreement can help protect you against being responsible for debt your spouse accumulated before tying the knot.
- To provide an inheritance to children from a past marriage or relationship: If you have concerns about this you can outline your intentions in a prenuptial agreement.
- Protection for family property: For example, you can include a family business or heirlooms in your prenuptial agreement, as to ensure that you maintain ownership in the event of a divorce.
These are far from the only things you can include in a prenuptial agreement, but you should definitely consider if these make sense.
As long as you know what to include in your prenuptial agreement and how to discuss this with your fiancé, everything should begin to come together as you close in on your wedding day.
Source: FindLaw, “What Can and Cannot be Included in Prenuptial Agreements,” accessed June 07, 2018