What to Include in Your Prenuptial Agreement

What to Include in Your Prenuptial Agreement

Before you and your fiancé tie the knot, you want to put some precautions in place. Even though divorce is the last thing on your mind, you believe it’s best to be protected just in case. That’s why you’re thinking about asking your fiancé to sign a Prenuptial Agreement, also known as a prenup. The only thing is you aren’t exactly sure what to include in your prenup. By finding out what to put in it – and how to create it with the help of a family lawyer – you’ll feel much better about your and your fiancé’s future together.

Boudreaux Hunter & Associates, LLC in Houston, Texas are certified in mediation, take a collaborative approach with their clients to ensure that their clients reach solutions that work for their families, and are devoted entirely to the practice of family law. We are fierce advocates for our clients and we’d be delighted to help you create your prenup. Reach out to us today for an initial consultation.

What to Put in a Prenup

Essentially, your prenup is going to outline a few different things, like:

  • Which assets belong to each person, and which assets belong to both of them in the marriage
  • Which debts belong to each person, and which debts belong to both of them in the marriage
  • Each spouse’s role when it comes to financial responsibilities

For instance, let’s say that you plan to acquire many different properties during your marriage, and you don’t want your future spouse to own them, too. You can keep them separate by stipulating to that in your prenup.

When it comes to debts, perhaps your spouse has a lot of credit card debt they need to pay off. You both discussed it and decided that they were going to pay off their debt on their own without your help. You could document that in your prenup as well.

Another important thing to include is who is going to take care of paying the bills, making investments, contributing to retirement, and other financial responsibilities. Even if you both agree to share the responsibility, it should say that in your prenup.

If you’re getting remarried and you have children from a prior marriage, you can include in your prenup that you want those children to inherit your estate when you pass away.

Keep in mind that you cannot include anything about child custody, child support, parenting time, or what the non-financial responsibilities of each spouse will be during the marriage. 

Why Get a Prenup?

Divorces are very difficult. They can take a long time and cost a lot of money. With a prenup, spouses can save themselves time and energy since the characterization and distribution of their assets and debts will already be determined.

Prenups are also useful because they encourage spouses to talk about finances prior to the marriage. If they walk down the aisle without an agreement, then they won’t create boundaries around money or know who is going to handle the finances. An agreement will encourage them to communicate, which will be helpful in all aspects of their marriage.

If you’re worried about what’s going to happen to your assets and debts – as well as your spouse’s – then a prenuptial agreement can help eliminate any stress you’re both experiencing. You can go into the marriage knowing that if you were to divorce, it wouldn’t be as tough, at least from a financial standpoint.

When to Talk About a Prenuptial Agreement

Ideally, you should be honest with your fiancé and talk about a prenup as soon as possible. Don’t spring it on them at the last minute. Practically speaking, it should be completed at least one month before you get married.

It’s good to get the agreement finalized before you start doing any wedding planning so that it isn’t in the back of your mind during an already overwhelming time.

When you discuss the agreement, be sure to explain your position and why you want it. For example, perhaps your parents had a very tumultuous divorce because of finances and you don’t want to go through the same thing. Always use “I” statements and seek out the help of a compassionate couples’ counselor if necessary.

The Importance of Hiring a Family Lawyer When Creating a Prenuptial Agreement

It’s critical to hire an experienced family lawyer when creating your prenuptial agreement. If it’s not a legal document, then a judge will not be able to factor it into your divorce proceedings, which could lead to devastating financial consequences.

Your lawyer will make sure that your prenuptial agreement is 100% legal and will hold up in a court of law during your divorce. For example, they will be open with you and ensure you disclose all relevant assets and debts. If you hide anything from your fiancé by undervaluing your assets or debts or not disclosing how much you have, then the judge could say that your prenuptial agreement is not valid.

Additionally, your family lawyer will make you feel well represented and that you are getting what you want out of the prenuptial agreement. You cannot coerce your fiancé into signing, or else it would become invalid.

If you and your fiancé are having any disagreements, a third-party mediator like a family lawyer could be very useful. Your lawyer will demonstrate that this is simply a precaution for you and your fiancé and it doesn’t mean you think that you’re going to get a divorce.

On a practical note, your family lawyer is going to review the document to make sure that everything is fair and everyone signed and dated it in the presence of legal representation. Then, you won’t have to worry about whether or not it’s valid.

Get in Touch With Boudreaux Hunter & Associates, LLC 

When you’re hoping to create a prenuptial agreement for you and your fiancé, you can reach out to Boudreaux Hunter & Associates, LLC for help. We’ll work hard on your agreement and be your source of support in your time of need. Make sure you get in touch online or by calling us at (713) 333-4430. We look forward to hearing from you.