In our previous article we discussed how to decide if having a Prenuptial Agreement is right for you.
Once you determine that a prenuptial agreement (“prenup”) is warranted in your situation, you need to decide what issues to include in your prenup.
Your prenup must include all property issues that are of concern to you. The following are examples of issues that are commonly addressed in prenups:
- Providing for children from previous marriages
- Business ownership
- Retirement benefits
- Defining separate and joint property
- Avoiding responsibility for partner’s debts
- Division of property in case of divorce
- Maintenance in case of divorce
- Management of joint accounts
- Management of household bills
- Investing in a house or business
- Management of credit card spending and payments
- Management of Savings
- Paying for higher education for either partner
- Property distribution to the survivor in the event of death.
Begin the process by writing a list of the items that apply to you. Next, think about how you would like the items to be owned, managed or distributed. During this step write down any questions you may have, such as, the options available in terms of protecting each property. Now you are ready to consult with a lawyer who can clarify any of these issues, as well as issues you may not have considered. Your lawyer will advise you on how to best protect your property, remain committed to your existing responsibilities and manage a new family.
Deciding to have a prenuptial agreement and obtaining your partner’s consent doesn’t have to be stressful. A prenup can ensure peace of mind for both of you and allow for a lifetime of happiness.
Contact the attorneys at the Law Offices of Azita M. Mojarad, P.C. to discuss your individual situation and determine how to best prepare your prenuptial agreement.