No one enters a marriage assuming it will end in divorce. However, this is a possibility, and many New Jersey readers understand the benefit of preparing for it. You can do this by drafting a strong and thoughtful prenuptial agreement. If you are considering this option, you would be wise to know what you can and cannot include in this type of legal document.
A prenuptial agreement provides many benefits. It allows couples to outline the division of marital property in case of a divorce. This may not seem like a romantic prospect, but it can be a positive step, including offering you peace of mind of the future. It is smart to seek guidance as you draft this important document.
What should be in your prenuptial agreement?
There are many things you would be wise to include in your prenuptial agreement. It is prudent to be as thorough and careful as possible while drafting this document, as this could eliminate the possibility of complications in the future. Some of the terms you can include in your prenuptial agreement include the following:
- It is smart to include terms that outline what property is marital property and what property qualifies as separate property.
- It is smart to include terms that would allow you to outline how the couple will share debt accumulated over the course of the marriage.
- A prenuptial agreement can allow you to protect your estate plan and any important heirlooms and assets you want to remain in the family.
- You can include specific instructions outlining how you want property divided between you and your spouse in case of a divorce.
- It is also possible to outline financial responsibilities of each spouse during the marriage.
There are limits to what you can include in your prenuptial agreement. For instance, you cannot include provisions that pertain to child support or child custody.
You can protect your future interests
A prenuptial agreement can help you protect your future interests. You may not think of this step as a romantic prospect, but it can actually provide you and your soon-to-be spouse an opportunity to discuss important financial matters.
If you think you could benefit from this type of legal protection, you may first find it helpful to seek a complete evaluation of your case. This step can allow you to understand how a prenuptial agreement will work and what you can accomplish with it.