Many people believe prenuptial agreements are a sign of impending doom, that only couples who plan to get divorced later should have one. However, that’s just not true. Nearly half of all marriages these days will end in divorce. That’s why prenuptial agreements are so important. Expect the best, but plan for the worst.
What Is a Prenuptial Agreement?
People will often hear about prenups, either in conversation or while watching TV, but not many people really know what a prenuptial agreement entails. The simplest definition is that it is a contract between you and your partner. In the contract, there will be a set of guidelines for each of you to follow.
Same as with other contracts, both parties will have to give something if they want to get something, but what each person gives or gets does not have to be equal, so long as you both agree.
What Can I Put in a Prenup?
You may use your prenuptial agreement to do any number of things. In it, you can mandate that your finances are to remain separate during the marriage, or that certain property will be kept by one party in the event of divorce. The things you can put in a prenup are nearly without limits. Nearly.
While it is completely possible to put something in there to prevent your partner’s obsession with Pokémon Go from bankrupting you with all those micro transactions, there are some things you cannot put in a prenup.
For example, you cannot set rules outside of finances, such as giving chores or making rules about owning pets. You are also prohibited from including clauses which would restrict child custody or support after a divorce, nor can you force your partner to give up alimony.
Should I Have a Prenup?
Even if you don’t have a lot of assets or property right now, you may still benefit from having a prenup later. Besides, prenups aren’t just about what happens after you get a divorce. They can be useful for preventing your marriage from ever getting to the point that you need a divorce.
Look at it this way: better to have one and not need it, than need one and not have it.
The Lewisville divorce lawyers at The Julian Firm, P.C. have spent years helping people create prenuptial agreements that suit their individual needs.