Generate A Prenuptial Agreement with LegalZone

What Is a Prenuptial Agreement?

Most people know a Prenuptial Agreement simply as a “Prenup.” This document is an agreement between two individuals before they get married. The contract details each person’s personal properties and debts and what each person’s rights will be upon the termination of the marriage.

The document can also be called an “antenuptial agreement” or a “premarital agreement.”

Who Needs a Prenup?

When you’re preparing for a wedding, you probably aren’t considering the likelihood of divorce. However, if you have assets you want to protect in a worst-case scenario, then a prenup is the way to go.

Prenups aren’t just for millionaires and celebrities anymore—any couple can get a prenup. Now that people get married when they’re older, many have already established business identities and personal assets. Because of this, these couples opt for a prenup to protect what they’ve built as an individual.

Why Should I Use a Prenuptial Agreement?

Prenups are commonly used to protect the individuals’ assets accumulated before entering a marriage. If the couple gets divorced later down the road, they have a legally binding document that prevents negotiations from getting too messy.

But prenups can serve other purposes as well. If you’re entering into a second (or third, or fourth) marriage and you each have children from a previous union, then your prenup can establish that you want your property to be passed to your children (instead of the spouse) when you die.

A prenup can also protect individuals from the responsibility of assuming their partner’s debt.

What Does a Prenuptial Agreement Do?

At its core, a prenup clarifies the individual financial responsibilities of two people who are getting married.

Can a Prenup Really Protect You?

Yes. Without a prenup, the state determines what happens to your property when the relationship dissolves or one partner passes.

Without a valid prenup, most states give the spouse the right to share ownership of property acquired during the marriage. This acquired property is then divided evenly between the spouses in case of divorce. With a prenup, you can specify that your personal acquisitions remain yours in a divorce.

If you incur debts during a marriage, and then the marriage is dissolved, both parties are responsible for paying back this debt. However, a prenup can state that individually incurred debt is the sole responsibility of the individual.

Many states also default to allowing the spouse to share the management and control of community property, including the right to sell it or give it away. A prenup can clarify what can and can’t be done with community property when the marriage is terminated.

What Should Be Included in a Prenuptial Agreement?

Your prenup should include any details you believe are necessary before your marriage. Some things to consider are:

• Separate and Marital Property
• Saving and Spending Strategies
• Financial Obligations During Marriage
• Debt Liability
• Children from any Previous Marriage
• Family Property
• Estate Plans
• Property Distribution in Divorce
• Alimony/Spousal Support
• State Laws Governing the Agreement

Items that cannot be included are:

• Child Custody
• Child Support
• Forfeiture of Alimony Rights
• Rules Concerning Personal Matters
• Anything Considered Illegal or Unfair
• Lifestyle Clauses

Create Your Prenup with LegalZone

Congratulations on your upcoming marriage! At LegalZone, we’re happy to help you develop a prenup that protects you and your partner. The best part is that it’s easy to draft the document and way more affordable than a wedding cake.

If you have questions about whether a prenuptial agreement is right for you, reach out to one of LegalZone customer support specialists.

If you’re ready to get started, click here.