Whilst no one likes to think of something ending when it has only just begun, prenuptial agreements intend to set certain terms in place in case the marriage ends.
There is not one typical type of prenuptial agreement. Instead, they are bespoke documents, created with the specific couple, and their finances and assets, at the centre.
What CAN be included in a prenuptial agreement?
What CANNOT be included in a prenuptial agreement?
|Difference between separate and joint property.||Provisions detailing anything illegal|
|Protection measures against any debts that your spouse may have.||Decisions around child support or child custody|
|Provisions around providing for any children from previous relationships.||Waivers of child maintenance.|
|Protections to keep family property in the family e.g., heirlooms||Things that encourage divorce|
|Estate plans protection||Details about personal, rather than financial, matters|
|Directions for property distribution following divorce.||Lifestyle matters|
|Descriptions of the responsibilities of each party.||Different outcomes depending on the reason for the marital breakdown (i.e., if there is adultery)|
|Protection for inherited money, assets, or savings.||Anything which prejudices the needs of a child of the family|
Prenuptial agreements can be beneficial for both parties, solidifying the terms of the relationship before any problems may arise. It is recommended that every prenup should be thoroughly reviewed by a lawyer before signed to ensure that both parties are protected from any potential errors, mistakes or prejudicial terms.