Prenuptial arrangements are usually considered a taboo subject. Many people might not know much about them. However, prenups are not a bad thing. Though it may not sound romantic, marriage is a contract with partners and assets.
If you were starting a business, you would want protections from liabilities and insurance against disaster. A prenup guards both partners in a marriage, just like insurance protects a business. Creating a prenup is simply a way to ensure both parties are protected in the event of an unexpected event.
What can go into a prenup?
Just like businesses, prenups safeguard assets. When you enter into a marriage you will want to make sure your assets are cared for and protected. But what exactly can go into a prenup? Essentially anything and everything. You can include provisions about property, income and even pets.
A few examples of common inclusions are:
- Real estate
- Retirement accounts
- Inheritance money
- Stock options
- Prearranged spousal support plans
- Pet custody
You cannot, however, include decisions regarding child custody or child support. These are always made in the event of a divorce. This is because the decisions are always made based on the needs and interests of the children in question at the time in question.
How do you create one?
The process of creating a prenup is not complicated. Both you and your partner will need to hire an attorney. Then you will each need to assess your finances before you start deciding what to include.
Though this may not sound like a particularly great way to start a marriage, some people found it creates a more solid beginning to their relationship as a couple. Creating a prenup can also create peace of mind for both parties. Each person knows where they stand coming into the relationship and how they are protected.