Prenups enlist the properties owned by two individuals about to tie the knot. It specifies the property rights of two partners after marriage.
Why Should You Consider A Prenup?
Some reasons why you should consider a prenup are as follows:
- You are marrying a partner who has children from a previous marriage, and you want to specify the beneficiaries. You may be willing to leave the separate property for your children and provide for your current spouse as well, you can consider a will planning attorney. A prenup will help divide the property between your spouse and your children, with no one claiming more than the other.
- You will be able to provide a clear understanding of the financial rights and responsibilities in a marriage.
- A prenup determines if any of the spouses will be receiving alimony in case of a divorce. A waiver of alimony will be inspected and may not be implemented if the spouse giving up alimony did not take legal assistance.
- You will be protected from the debts of your intended.
- You will be able to specify what happens to your property, followed by your death or divorce. Without a prenup, it will be disposed of as per State laws.
These days prenups are pretty common and not just made by wealthy and famous people.
What Can Be Included In A Prenup?
The use of prenups by even the common folks has transformed how views on marriage and property were perceived in society. These are the few points that can be included in a prenup:
- A prenup states what happens to a house that you owned before marriage. The prenup can include a provision mentioning that the house’s maintenance cost will be borne by you solely.
- You may own a beach house, and your prenup will state that you will hold the right to sell or lease the house. But your spouse can reside in that house for the summer.
- A prenup can decide the laws of which jurisdiction will be used to elucidate the agreement and where any lawsuit will occur.
- Personal rights and obligations can be mentioned in a prenup, such as where you will stay or how your children will be raised.
- Prenups can never include provisions that will violate any law.
- Prenups can not include child support because the guidelines of each state determine it.
You can write your prenup in a legally understandable language. But both parties should have a lawyer to provide brief advice about it.