How To Draft A Prenup ?
It is important to discuss issues once one has decided on drafting a prenuptial agreement. This is because some partners might find it offensive to the idea of signing a prenuptial, especially since the major consideration is a future divorce. |
Apart from addressing wealth issues, the agreement should also tackle debt. For example, if one partner is entering the marriage with thirty thousand dollars debt, the prenuptial should address who is liable for that debt in the event of a divorce. Also, debts incurred through credit cards, student loans, personal loans, car notes and mortgages that might impact the financial future of the family must be considered and mentioned in the agreement.
Moreover, a prenuptial agreement will include not only the assets brought into the marriage, but also any assets accumulated during the marriage. It does not define the exact dollar amounts except when assigning money to a particular party. Instead, it will address any future income that might benefit the family. For example, a prenuptial could assign equal half of all assets accrued during the marriage to both parties in the event of a divorce.
It is wise to seek help from an accredited and qualified attorney with one’s prenuptial agreement. This usually takes one to three weeks, and the lawyer consults both the parties before writing the final draft. One can also write it by himself, and it does not have to contain the legal jargon present in most contractual agreements. Many people take help from the available online templates or forms. The most vital thing, however, is that both parties understand the agreement and agree to everything it states before signing the prenuptial agreement.
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