Important Intricacies to Prenup
Prenuptial agreements are written before a couple marries to protect an individual's assets in the case of divorce or other unfortunate circumstances. Each prenuptial agreement is considered unique. However, there are universal inclusions in the document.
The range of what can be included in a prenuptial agreement is highly flexible and can accommodate the majority of wants and desires that a marrying individual possesses. That being said, there are rules associated with the drafting of the document. Typically a prenuptial agreement will outline the following intricacies:
The division of property or estates upon divorce.
Whether particular assets or items are considered communal or separate property.
Ownership of the marital residence.
The responsibility of premarital debts.
The distribution of property on death.
Alimony obligations.
Under which state laws is the prenuptial agreement active?
Financial responsibilities during the marriage.
How disputes are to be resolved in regards to the prenuptial agreement.
A sunset clause which stipulates the termination of the prenuptial agreement following the couple staying together for X amount of years.
