A couple of weeks ago, we wrote a post about prenuptial agreements and the term "premarital planning." In that post, we dispelled some of the myths about prenuptial agreements and how the preconceptions some people have about these contracts can actually prevent a couple from securing a vital legal component of their marriage.
Today, we want to continue that conversation by looking at some of the things that you can -- and can't -- include in a prenuptial agreement. As with any legal contract, you need to make sure that all of the information contained within the prenup is correct and that the provisions are compliant with the law. But let's get more specific:
- You can include provisions that outline which property is "separate" and which is "marital," including a spouse's debts.
- You can make arrangements for children from a previous relationship.
- You can address your estate plan in a prenup, as well as any family business you would like to protect.
- You can outline how property division will proceed in case of a divorce, as well as outline what responsibilities each spouse will handle during the marriage.
- For all the things you can do, you can't discuss anything illegal in the prenup. Additionally, you can't waive your right to alimony.
- You also can't discuss the matters of child custody or child support in the prenup.
- Last but not least, you can't include provisions that would encourage divorce.
Source: FindLaw, "What Can and Cannot be Included in Prenuptial Agreements," Accessed July 10, 2017