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What can you do in a prenuptial agreement?

On Behalf of | Apr 25, 2022 | Prenuptial Agreements |

Expand the scope of your wedding planning to life events beyond the romance of the nuptials. You may want to consider discussing what happens should the marriage not live up to expectations and you wind up divorced.

Discussion of a premarital or prenuptial agreement is no longer as taboo as it once was. Considering what may happen in the future is part of a larger plan that should include things such as estate planning. While you do not necessarily want your future marriage to end in divorce, it may. Having a plan cemented during the good times may help you move forward on firmer footing.

What goes into a premarital agreement?

Before you get married, you may want to talk about how you intend to share money. A premarital agreement acts as a way to preserve your ideals about sharing or separating finances and property. During a breakup with emotions running high, it is easy to lose sight of the original agreements you made. A prenup discusses how you will divide finances and property should it become necessary in a divorce.

What can a prenup not address?

A premarital agreement memorializes how you will divide tangible property and other financial resources you accumulate together. While financial division in divorce is one of the main elements you need to decide on, it is not the only one. You must also discuss child-related issues should you become parents. However, a prenuptial agreement cannot contain provisions regarding future children, custody or child support. It can only account for financial division between spouses and spousal support payments.

When you divorce, your prenup will become a central part of walking you through dealing with financial division matters. It is a great tool to help you get through that element of the process without causing a deeper rift.