A prenuptial agreement, commonly known as a prenup, is a legal contract entered into before marriage. This document outlines the property and financial rights of each spouse in the event of a divorce. While prenups are often associated with protecting assets, they serve multiple purposes, including clarifying financial responsibilities during the marriage.
What Can Be Included in a Prenup?
Asset and Debt Division
A prenup can specify who owns what property before the marriage and how assets and debts will be divided in the event of a divorce or death. This is especially useful for those entering a marriage with significant assets or liabilities.
Protection from Each Other’s Debts
Prenups can be used to protect each spouse from being responsible for the other’s debts, which can be particularly important in managing financial risk and maintaining credit scores.
Family Property and Inheritance
These agreements can outline what will happen to family property and inheritance issues, ensuring that certain assets remain within biological family lines if that is a desired outcome.
Alimony and Spousal Support
Terms regarding alimony or spousal support can be included, detailing whether one spouse will provide financial support to the other post-divorce and under what conditions.
What Cannot Be Included in a Prenup?
Child Custody and Support
Decisions about child custody and support cannot be predetermined in a prenuptial agreement. These matters are decided by the court based on the child’s best interests at the time of the divorce, not beforehand. You can still choose to include custody provisions, but you should be aware that a court may not enforce them at the time of divorce.
Personal and Non-Financial Matters
Prenups cannot legally dictate personal aspects of the marriage, such as household chores, the upbringing of children, or relationships with in-laws. The law views these issues as outside the bounds of contractual agreements.
Illegal or Unfair Provisions
Any clauses that encourage divorce or involve illegal activities will not be upheld in court. Additionally, provisions that are deemed grossly unfair or coercive at the time of the divorce can be invalidated by a judge.
Waiver of Rights to Legal Claims
Spouses cannot waive their right to claim benefits that the law specifically provides, such as certain retirement benefits and social security benefits, through a prenuptial agreement. Others, however, can be protected, so it is often best to discuss with an attorney where protections of these assets will and will not apply.
Plan Confidently – Schedule Your Strategy Session Now
At the Law Offices of Tina Sharma, we understand the sensitive nature of prenuptial agreements and approach each situation with the care it deserves. With our extensive experience in family law, we take care that your prenup respects all legal boundaries while safeguarding your interests and future security. Whether you are seeking to protect your assets or clarify financial responsibilities before marriage, we are here to provide the necessary guidance and support.