How to Prepare a Prenuptial Agreement
A prenuptial agreement is basically a contract between a couple that intends to get married. Prenups usually comprise of terms and conditions related to the division of property or other assets in case of a divorce or bankruptcy.
The main intention of this agreement is to safeguard the interests of both parties in case any issue forces a separation. However, preparing a prenuptial agreement is tricky and you need to be very careful when agreeing to terms or adding your own.
Instructions
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1
First of all, both partners need to sit down and decide whether they really want a prenuptial agreement. Some couples decide to go for post-nuptial agreements, which are the same in terms of content, but are entered into after the wedding.
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2
If the couple decides on a prenuptial, they need to discuss the division of assets and property in case the marriage fails and either of them seeks a divorce. It is very important that the two openly discuss and express their concerns and fears so that things can be clarified in the start. If everything is open and transparent, the whole process will go much more smoothly.
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3
Patience and trust is very important during this phase. The soon-to-be-married couple may get into disagreements over clauses, suggestions or demands. However, it is important that they remain calm and go through the whole process like sensible adults.
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4
After having decided on all major terms and conditions. The couple needs to consult a professional lawyer who specializes in prenuptial and marital agreements. The lawyer will be able to better assist the couple in terms of the feasibility of certain conditions alongside proposing new ones.
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5
The couple needs to make sure all assets, liabilities and future inheritances are included in the prenuptial agreement so that no major issues arise in the future.
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6
Clauses regarding the repayment of loans and debts should also be included in the contract so that no future disputes arise in relation to these.
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7
Finally, with financial terms and conditions settled upon, the couple should also discuss the issue of child custody in the unfortunate event of a divorce. A clause related to this should also be part of a proper prenuptial agreement.
