It may have been common in the past for prenuptial agreements to have a negative connotation; however, due to the high rate of divorce, having a prenuptial agreement might actually make more people feel at ease today. Instead of looking at a prenup as a determination that the marriage is going to fail, many look at it as a sense of security knowing what to expect in the case of divorce or death, providing a level of comfort for the individuals.
To create a prenuptial agreement, or postnuptial agreement if you are already married, we recommend consulting with an experienced divorce attorney. These types of agreements, while beneficial to have, can be complicated and should be put together by a professional who understands the couple’s needs and wants and the laws associated with them. If you are considering a prenup, we outlined below what a prenup can and cannot cover so you know what to expect:
Prenups Can:
- Address each spouse’s right to property
- Divide assets and debts
- Outline each spouse’s entitlement to spousal support or alimony
- Cover the management of a business
- Include inheritance and estate planning
- Address death benefits from a life insurance policy
Prenups Cannot:
- Include provisions that are contrary or against legal and public policy
Regarding Child Custody and/or Child Support:
- Provisions relating to child custody and/or child support may be addressed; however, such provisions may be modified by a court to promote and protect the best interests of minor children.
RELATED: Read these 4 misconceptions about prenups.
If you are considering a prenuptial agreement because you and/or your spouse are considered high net worth individuals, you are marrying later in life and want to establish an estate plan for your new spouse and adult children from prior relationships, or because you would like to put your mind at ease as you approach a marriage, we hope the above information sheds some light on what a prenup can do for you. If you have questions about this information or would like more information about how our law firm can help you, our attorneys who are well-versed in all family law matters can help. Contact us now to set up a consultation however it is most convenient for you—via telephone, video, or in person.
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