30 Jan 2018

What Should a Prenuptial Agreement Include and What Not

Prenuptial agreements are contracts drawn between two persons before getting into marriage. The agreements are meant to protect personal assets. Mostly these agreements are made by a wealthy man marrying a younger woman to protect the man’s money and health. But now these agreements are made by women who are marrying at a late age. Here we provide What and What not Should a prenuptial agreement can contain.

What do Prenuptial Agreements Protect

The main things you can address in your prenup are arrangements for spousal maintenance and property division. Also, you can protect assets you may acquire in the future in this legal document.

What CAN  be included in a Prenup

  • Property: Always be careful in including your property and marital property. Upon separation or death, the court can divide only the marital property. To avoid the decision of the court on your property, have a prenuptial agreement.
  • Protect one spouse from other debts: If the other spouse has debts, then the creditors can go for your property also. If you have a prenuptial agreement, then you can protect your assets.
  • Provide for the children from the previous relationship: If you have children from other relationships, then it’s better to include them in the prenup to inherit them your property.
  • Keep your family property in the family itself: Specify your family business, inherited properties and any other assets that you want to be with your birth family in your prenup.
  • Secure your Estate Plan: Prenups ensure that your estate plan is carried out at your will. Always be prepared with your will.
  • Define property division upon Divorce: This is very important to the agreement. You can specify how your property goes after you have divorced.

What CANNOT  be included in a Prenuptial Agreement:

  • Illegal Provisions: Provisions that are illegal cannot be included in the prenuptial agreement. The inclusion might be risky also in future.
  • Decisions regarding the child custody: The Law does not permit you to decide on the child custody. It’s the court that has to decide. The court has the right to uphold the prenup agreement that has child custody included in it.
  • Encouraging divorce: Judges scrutinize prenuptial agreements to look for anything that tends to offer a financial incentive for divorce.
  • Making rules about personal matters: The prenuptial is meant only for financial contracts. No personal issues are to be discussed in the agreement. If any personal issues are found the prenup will be withheld. If you want to have an individual deal go for it with the help of an attorney, these agreements cannot have court intervention.

Get Help from a Family Law Attorney

Still, confused about What can and cannot be included in a Prenuptial Agreement or for drafting a prenup, contact our Maryland Family Law attorney at Alice Law on  301-515-1190 to set up your initial consultation.

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