If you are preparing to get married, it’s only natural to have a lot on your mind. For example, you and your partner may be considering a prenuptial agreement. We at the office of Robert G. Spaugh, Attorney at Law have extensive experience with prenuptial agreements, and we are here to provide a brief explanation of how they work. In this article, we’ll tell you the key information you need to know about signing this kind of agreement.
- It’s Better Start Discussions Early- The first thing we want you to know about prenuptial agreements is that you need to discuss the possibility as early as possible. The initial conversation where you bring up the possibility is just the beginning of a long discussion and negotiation process, so it’s best to leave yourselves plenty of time before the wedding to hash out the details.
- The Difference Between Marital and Pre-Marital Property- Another thing you should know about how a prenuptial agreement works is that the agreement lays out how your marital property should be divided in the event of a divorce, but generally treats each partner’s pre-marital property as belonging to the individual alone. Marital property is any assets that both spouses gained during their marriage, while pre-marital property refers the assets each person had before the marriage, as well as any that were gifted or inherited to just one person.
- There are Things You Shouldn’t Include in the Agreement- A third thing you should know about how a prenuptial agreement works is that there are certain types of stipulations that you can’t or should not include. A few examples of things that you can’t include in a prenup include divorce ultimatums, provisions that encourage illegal acts, or provisions that are frivolous in nature. In other words, you can’t say in your prenuptial agreement that you will divorce your partner if they do X, Y, or Z; you can’t require them to commit crimes for you as a condition of marriage; and you can’t use them to give any inconsequential mandates.