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3 Elements to Include in a Prenuptial Agreement

Prenuptial agreements are legal contracts that outline how a married couple will divide their assets in the case of a divorce. Many people worry that prenups ruin the romance of a marriage, but they’re vital for protecting each individual's interests if the couple parts someday. For maximum protection, below are a few things to include in your prenuptial agreement.

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3 Elements to Include in a Prenuptial Agreement

3 Elements to Include in a Prenuptial Agreement

We The People (Vivial)

What Should a Prenup Include?

1. Separate Property Declarations. When a couple divorces, their marital estate will be divided according to state law. However, these laws don’t apply to assets that are the sole property of one of the spouses.

A prenuptial agreement allows you to strictly define which assets are subject to division in the event of a divorce. This can prevent disputes and make the divorce process smoother if your marriage comes to an end.

2. Property Division. Deciding in advance how property should be divided is the most important function of a prenup. Your prenuptial agreement can include both assets acquired during the marriage but also those each spouse owned before.

The prenup can outline how assets will be divided, whether through a 50/50 split or another agreed-upon method. By including property division in the prenup, both parties can feel secure knowing that their assets will be protected and divided fairly in case of a separation.

3. Alimony and Spousal Support. A comprehensive prenuptial agreement should also describe how alimony or spousal support will be handled. Your document can dictate the amount and duration of support, as well as any conditions that must be met for support to be provided.

By addressing this issue in the prenup, both parties can have a clear understanding of their financial obligations to each other. Negotiating a prenup also ensures that you and your spouse are on the same page before getting married.

Creating a prenuptial agreement can be confusing and stressful, but We The People of NY is here to help. Since 2006, they’ve been helping couples throughout New York City prepare legal documents up to the highest legal standards. Visit their website for more on preparing a prenup, or call (212) 633-2200 to make an appointment.