Deciding to create a prenuptial agreement is a big deal, as both individuals need to agree to the terms and conditions. Furthermore, there are things you can and can't include in the agreement, so knowing the legalities that govern this type of document is critical.
Here are five prenuptial agreement slip-ups to avoid:
- Forcing the other person to sign: You can work with your soon to be spouse to create a prenuptial agreement, but you can't do so on your own and force this person to put their name on the dotted line.
- Forgetting to sign the agreement: A prenuptial agreement is a contract, meaning both individuals must sign and date. If they don't, it may be considered void in the future.
- Adding provisions for child custody: For example, you may want to include language saying that you'll receive physical custody of any children in the event of divorce. You can't do this, as custody is granted based on the best interests of the child at the time of the divorce.
- Adding child support provisions: Just the same as custody, you can't add any language about who will or won't pay child support. It's up to the court to decide.
- Chore requirements: You can't state that one person will be responsible for particular chores, such as cleaning the house, cutting the grass or taking the kids to school.
These sound like common sense items, but when creating a prenuptial agreement many people make mistakes.
To avoid trouble in the future, create an iron-clad prenuptial agreement today. You'll be glad you did in the event of a divorce.