Prenups, also known as prenuptial agreements, are often signed before two people get married. They outline various conditions pertaining to who gets specific assets or custody if the marriage ends in divorce. Many people put these in place to help protect their valuable assets or family wealth, but there are several things to know about agreements before signing on the dotted line, such as prenup meaning. 

Material Property

Prenups can be written to include various conditions. For example, marital parties may agree that both parties keep whatever they brought into the marriage, including a house, money, or other assets, such as an art collection. These conditions often include material items that either party wants to keep. Some clients put sentimental items in the prenup to ensure they keep things close to their hearts. 

Custody Agreements

It’s common for clients to agree on the custody of children, or future children, before getting married. Parents may include shared parenting plans, including financial obligations. They can include a provision that doesn’t ask for child support or states how much the non-custodial parent will give the custodial parent. The prenup holds up in court and saves parties from an emotional court battle if a divorce happens. 

Specific Clauses

Today, more people opt for specific clauses in the prenuptial agreement to address any concerns. It’s common for a stay-at-home mom to include spousal support or part of their partner’s business in the prenup. Many prenups have an infidelity clause in which the faithful spouse receives additional support, such as higher spousal support, if their partner cheated. 

Comprehensive Financial Guidelines

Many prenups have a comprehensive guide regarding finances. This document outlines how everything will be divided between parties, including, but not limited to: 

• Debt
• Credit card payments
• Spousal and child support
• Joint bank accounts
• Investments
• Expenses, such as car payments

Having a prenup eliminates most negotiations and arguments if a divorce happens. 

Why Get A Prenup?

There are several reasons why people invest in a solid prenup before marriage. Many people want to reduce conflict during a divorce. Individuals may want to safeguard their wealth or personal business to ensure success for themselves and future generations. If one partner has excessive debt, a prenup ensures the other partner doesn’t wind up responsible for it. 

Legal Considerations

It’s crucial to work with a prenup lawyer before signing a prenup. Prenuptial agreements must meet specific qualifications. For example, both parties must fully disclose all their assets in the document. It must be considered fair, and parties must enter the agreement willingly. A lawyer will ensure you follow legal guidelines so your prenup can be used if there is a divorce. 

Contact Us Today!

A professional lawyer with experience in prenuptial agreements will work beside you to protect your best interests. They’ll discuss your concerns regarding assets or marriage and how to include clauses in the prenup to protect yourself. That’s why it’s best to get a personal lawyer to help you with your prenup. 
Contact us today to schedule your initial prenup consultation.