What is a prenuptial agreement? It is a contract that you and your fiancé sign as a way to communicate specific needs, protect your assets, and ensure that your children receive an inheritance if something happens to you or your spouse. They are very broad as they cover many different topics that could be essential to your marriage. Today we will help you understand what you can include in your prenuptial agreement and what this means for your family.
How They Relate to Your Assets and Taxes
In prenuptial agreements, assets are one of the hugest concerns. This is why, when you sit down and draft your agreement, you will talk about property and so much more to ensure that property going into marriage will remain the same if you receive a divorce in the future. If you don’t have a prenup in place, many states will just split everything in half and you probably don’t want this to happen. The contract should detail who will own investment earnings, what one spouse will inherit, and where a couple will be living so that taxes can be accounted for.
How They Relate to Your Family
If you have history in another marital arrangement, it helps to include these circumstances in your new agreement. A clear idea should be given to your new spouse on your previous children and spouses, as well as mentioning child support and alimony. It is important to decide what happens if one spouse dies and who will inherit what, which is why a will plays an important part. You may even go as far as to mention expectations with child rearing and martial duties, such as how many children you want and how often a spouse will work as well as many other factors.
When you enter into marriage, you may not expect the worst. Nobody accounts for a spouse to pass away or a divorce to take place, but these are very real things that could happen. Because of this, it is important to speak to us today about your case and how we can help you. Call us today for more.