Premarital Agreements forms
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What is the purpose of a premarital agreement?
Couples in love often avoid financial topics, but from time to time, they face a situation where there is no room for beating around the bush. It's better to have a thorough conversation about money to prevent arguments in the future.
Many look at a premarital agreement as a divorce's first step. But in fact, this document represents the interest of both parties to ensure that you’re on the same page with your loved one. In addition, a prenuptial agreement is your insurance for cases where bankruptcy or an unfortunate accident happens.
After all, the terms of your arrangement transcend many marriage laws, such as the division of property. It doesn’t matter if one of the spouses has previously been married, a couple still can sign a contract to be sure that they can control the consequences in case of an unforeseen event instead of sticking to general rules. A prenup is voluntary, so each party further agrees that they are not acting under duress.
What should be included in a premarital agreement?
Just start a conversation and download the form, whereas a wife and husband check all that apply to them.Debts and assets owned by one spouse
Perhaps you want to share your debt with your spouse, or, on the contrary, make sure that your student loan or a mortgage won't affect your financial situation in any way. Decide on what you're ready to share and what terms you provide.Conjugal responsibilities
If you have previously been married, you know that failed expectations often lead to divorce. So a logical question arises 'Wouldn't it be better to tell how your relationship looks for you?' Find out who is responsible for paying bills and a child's education and write these provisions in your contract.Force majeure
Many situations show up out of the blue, but you can at least prepare for some of them. Discuss with your significant other who will stay at home if you decide to have a baby.Division of property
You have assets that you would like to keep after a divorce. It could be part of a family business, some kind of heirloom, or real estate. Of course, discussing such things feels weird when your relationship is safe and sound, but keep in mind that no one is immune from failure, and you should have a backup plan.Inheritance
If one of the spouses has a child or children from previous relationships and marriages, then a prenuptial agreement is also a way to protect their future. Consider what they will inherit, or your spouse can claim it.
What can’t be included in a prenuptial agreement?
Prenuptial Agreement is more than just creating, downloading, and printing a document. You should keep in mind that there are clauses you can’t include.Custody and so on
To avoid lengthy litigation, couples try to include a clause on alimony or waiver of child custody in the contract. Unfortunately, no court will hold up such an agreement if it isn't in the child's best interests. It would help if you discussed this topic with your spouse. However, if you change your opinion during the marriage, then the premarital agreement won't prevent you from standing on your ground in court.Religious and political beliefs and domestic chores
Who takes out the trash or what religion a child professes should not be added to the document. The court will not consider personal non-material matters, regardless of how important they are to you.Encouragement of divorce
This is the main reason why it is worth negotiating the contract with a lawyer. If your agreement contains unfair terms that induce one of the spouses to file for divorce, this document most likely will not be valid in the court’s eyes. Remember, the wording in your prenuptial agreement is critical. The contract is designed to protect both parties, regardless of hardship they can meet, not to doom the marriage.
What are the downsides to a prenup?
Although prenup is a wise solution, many postpone this conversation because of a number of superstitions.
A killing of romance. It's tough to talk about material things when you have butterflies in your stomach. Such conversations about what will happen in case of a love failure often lead to squabblings.
An unfair contract. An incorrect agreement can hit the pocket hard. Especially if your spouse has previously been married and suffered from a prenup, they will be skeptical about your idea.
Fees. Having signed the agreement, each party agrees that they have had an opportunity to consult with a lawyer. Actually, both you and your spouse need legal counsel to get the deal right. These are additional expenses for which you may not be ready. Although you can refuse the help of consultants and just download the signNow template if you are sure that you both have standard clauses.