About six weeks ago, we wrote a post about prenuptial agreements and how couples that are getting married can benefit just by having the prenup conversation. They don't even have to go through with the actual contract. By having the talk, the couple can address critical financial topics that they may never have considered if they had never discuss a prenuptial agreement. Property, assets, income, responsibilities -- all of these things can be included in a prenuptial agreement.
While we're on the subject of what can be included in a prenup, let's discuss the many provisions that you should include in your prenuptial agreement, as well as the many topics that you can't include:
- Two of the most important things you can include are provisions that make distinctions about which property is marital and separate; and provisions that protect your estate plan and family business. These are clauses that every prenup should have so that each spouse is protected in case of a divorce.
- Additionally, a prenup can include clauses that protect someone from their spouse's debt, make concessions for a child from a different relationship and outline which responsibilities each spouse has during marriage.
- Even though this is a lot of ground that prenups cover, there are certain things that are out of bounds for prenuptial agreements. For example, both child custody and child support are out of the question in a prenup. Neither topic can be addressed. Additionally, you can't waive your right to alimony.
- You also can't have clauses that encourage divorce or involve anything illegal.
Source: FindLaw, "What Can and Cannot be Included in Prenuptial Agreements," Accessed Aug. 18, 2016