While most people in the Sugar Land area have heard of prenuptial agreements, not everyone is aware of the type of provisions that a prenuptial agreement can include. When many people think of prenuptial agreements they think of one spouse trying to hold on to their money or assets in case of a divorce. However, many different types of provisions can be set forth in a prenuptial agreement. Many would be surprised to know that some of these provisions can apply whether the couple is concerned about a high asset divorce or even certain aspects of the marriage.
A few aspects that a prenuptial agreement can regulate are the financial areas of a marriage. For example, it can separate marital property. It can also protect one spouse from the other spouse’s debts in case of a divorce. Family property can also be marked and delegated to the appropriate parties. It can also aid in distributing an estate plan.
Perhaps more importantly, a prenuptial agreement has the ability to define what responsibilities each spouse has in the marriage. These are good things for any couple to discuss, even if they aren’t signing a prenuptial agreement. Some things the agreement can include:
- Managing bank accounts
- How to put one or another spouse through school
- Savings contributions
- Management of household bills and expenses
These are just a few of the things that prenuptial agreements can accomplish. Really, these agreements can be a great way for newlyweds to discuss their financial and emotional needs during the marriage. Children can also benefit from these agreements. Prenuptial agreements are for marriage as much as for divorce.
Source: FindLaw.com, “What can and cannot be included in prenuptial agreements,” Accessed Dec. 29, 2014