There is a very good chance that you have heard of a prenup in the past. But just because you have some vague idea of what it entails, does not mean you necessarily know everything that is entailed in this legal document when it is drawn up. As family law experts, at Pavithran Law Offices, we are well-versed in what a prenup means for the couple that is looking into acquiring it and therefore are very capable of walking you and your soon-to-be spouse through the process. But for now, let’s start with the basic questions we find ourselves answering most frequently.
1. What is a prenup?
A ‘prenup’ or a prenuptial agreement is a document that preemptively provides a plan for the way assets will be distributed in the case that the marriage ends. This also includes what will be provided in the form of post-marriage support(should the couple choose to include this). This legal document also outlines what responsibilities each spouse wishes for their intended to uphold and covers what would occur in the case of one of the partners should die while they are married.
2. When should I worry about a prenup?
A prenup can not be drawn up until a couple is formally engaged and intends to marry. Normally, once an engagement occurs, there is a large amount of planning that takes place and the very last thing people want to talk about is the possibility that their marriage will not end in bliss, so people tend to procrastinate when it comes to researching or obtaining prenups. We would suggest getting everything taken care of at the beginning of the engagement so that you are not stressing about it right before the wedding.
3. Is a prenup for couples who don’t trust one another?
The largest misconception surrounding prenups is that couples who obtain them are lacking trust in their relationship. After all, clearly defining how assets will be split in the case of a divorce before the wedding ever occurs doesn’t exactly scream “trust”. However, it has been shown time and time again that having a prenup actually increases the amount of trust in a relationship. After all, both people know they are going to leave the marriage(should it not work out) with exactly what they began with and therefore they are in it for the companionship and love of their partner alone.
4. Can my fiance and I draft our prenup on our own?
While you and your future spouse may be capable of coming to agreeable terms where your prenup is concerned, you do not have the legal experience to make your prenup enforceable on your own. Truthfully, your attorney and your fiance’s attorney should draw up the agreement together to ensure each person is getting what they want and will in the case of a future divorce.
5. What does a prenup include?
Just as every couple is different, every prenuptial agreement is different too. There is a major list of issues that should be covered and discussed but whether or not the couple chooses to make these issues a part of their personal document is up to them. So the surefire answer to this question is, whatever you and your partner want included in your prenup can be included in it.