Five Important Things to Include in Your Prenup

In order to make informed decisions about their prenup, couples should consider the financial implications of the marriage. They should also consider the financial settlements that they may have to deal with if the marriage doesn’t last.

A prenuptial agreement, one of the most important agreements couples should sign before their marriage, often isn’t discussed by couples. Thought of as an unromantic gesture, many couples shy away from signing it.

However, signing a prenuptial agreement can actually prove to be beneficial for a marriage as it allows couples to trust each other completely and transparently disclose their financial health. Further, it also helps both the parties safeguard their best interests in case of divorce and avoid an unpleasant altercation in court.

Five Things to Include in Prenuptial Agreement

Here are five important things couples should include in their prenup. While these are just the basics, and your prenuptial agreement can have a wider scope, this is a good starting point.

Joint Assets

A prenuptial agreement can also outline the distribution of jointly-bought assets in case of a divorce. This means that family home, car, business, investments, and other mutually-owned assets can be distributed with mutual consensus agreed upon in the prenup.

Business

A business that one of the partners may have been running before getting married often becomes a source of a dispute during a divorce. In a prenuptial agreement, you can outline the way you’ll want your business to continue in case of divorce or your demise. If your spouse is to be given shares in a business, this is the time to specify how.

Family Heirlooms and Assets

Family heirlooms often have a sentimental value. In case of divorce, no one wants their precious family belongings to end up with their spouse. Therefore, adding a clause regarding ownership of family heirloom in the event of a divorce may be a good idea.

Pension

No matter how long a marriage lasts, it can still break. In such an event, paying your pension to your former partner can impact your retirement plans. Therefore, a contingency plan such as the provision of pension distribution in the prenuptial agreement may prove to be helpful.

Childcare and Alimony

While child custody cannot be bargained and the court ensures the wellbeing of children in case of divorce, a prior agreement can be achieved. This means that spousal maintenance, alimony, and inheritance for children from this or previous relationship can be outlined in a prenuptial agreement.

Seek the Best Legal Advice

Reach out to us at Wembley Solicitors today to draft a reasonable prenuptial agreement that bests safeguard your interests. In case you’re already married, our expert solicitors can help you draft a post-nuptial agreement. Getting a divorce? Talk to us to get legal advice on family laws.