There’s a wide range of what can be included in a prenuptial agreement. It should be flexible enough to accommodate the couples’ wants, while also following legal guidelines.
What Can be Included in a Prenuptial Agreement
A prenuptial agreement can include the following:
(a) how property will be divided on divorce;
(b) whether or not specific items should be considered community property or separate property;
(c) who will retain ownership of the marital residence;
(d) who will be responsible for premarital debts;
(e) how property should be distributed upon death;
(f) most States want alimony obligations to be included
(g) what are the financial responsibilities during the marriage;
(h) which state the prenuptial agreement is under. If this is not clearly stated, the prenuptial agreement will be considered under the state where the divorce is taking place, not the marriage;
(i) how disputes regarding the prenuptial agreement will be resolved; and
(j) sunset clause. This allows that the prenuptial agreement will not be valid if the couple is married for a certain number of years.
What Cannot be Included in a Prenuptial Agreement
There are limitations to what can be contained in prenuptial agreements. A prenuptial agreement cannot include the following:
(a) custody of children;
(b) visitation right to the children;
(c) child support;
(d) anything “illegal”;
(e) anything “unconscionable”;
(f) anything thought to encourage divorce.
While most states allow prenuptial agreements to outline alimony arrangements, if a judge believes these arrangements to be unjust, a court will be allowed to invalidate the alimony provisions. This usually happens if there is great disparity between spouses’ incomes.
Working with a Family Law Attorney
Working with a family law attorney on putting together a prenuptial agreement is a good idea. It’s also important that you and your soon to be spouse both seek separate legal counsel for this agreement. This will ensure you both reach an agreement that is fair to each other, while also allowing you full disclosure without feeling awkward or uncomfortable about asking for what you want should your wedded bliss turn to wedded miss.
For advice on prenuptial agreements, you need the expert law firm of Korol and Velen, certified family law specialists. Schedule a consultation today.
Source: Prenuptialagreements.org, what is in a prenup, 2014