What Should You Address in Your Prenup? (Pt 2)

Bride and groom making a heart sign with their hands.
If you’re about to tie the knot, then you need to plan for every possible outcome, which could include divorce.

Welcome back and thanks for joining us again for a quick overview on what you should expect to cover in your prenup. You’ve probably heard of celebrities whose prenups cover all sorts of crazy things, from weight gain to infidelity. But in real life there are some things you can put in your prenup, and some things that won’t have any bearing on how your divorce gets handled. And now that we’ve clarified exactly what your assets and debts include, let’s take a look at what that means for you.

Do you have assets that belonged to you before the marriage?

This is a big one. If you had a lump sum you inherited from a relative before you were married, or a trust fund your parents set up for you when you were a child, then those things need to be protected. Anything from a home you owned before tying the knot, to a old boat you bought and fixed up years ago, if you owned something of value, then we recommend you consider what you want done with it if your marriage doesn’t work out.

Be sure to spell out how you want those assets to be divided (or not divided!)

If you don’t want your spouse to get half of your things that you owned before they were in the picture, then you’ll need to specify that in your prenup. Unless you want your pre-marital items to be split between both of you in the event that you get divorced. It’s up to you, but you will need to decide that before saying ‘I do.’

What about debts? Do you (or your fiance) owe money?

Debts can be very burdensome. And if they’re not even your debts, they can be even more burdensome if you get stuck paying for them. So if your spouse-to-be is coming into this relationship with thousands in credit card debt, or a mountain of student loans they’ll be paying on for the rest of their lives, you might want to specify in your prenup exactly who is going to end up paying off that debt if the relationship goes south.

Do you (or your fiance) have kids?

If either of you have kids from a previous relationship, you can make provision for their future in your prenup. This even includes specifying inheritance. For example, if you want a certain item, like a piece of family jewelry, a family-owned vacation home, or any other asset that you want to keep in your family, you can make sure it’s protected for your children and grandchildren.

Get the right help, and do this the right way.

Prenups can be tricky, and it’s important that you get them right so that down the line, if everything goes sideways in your marriage, you’re protected. So if you or a loved one are considering getting married, and you need help setting up your prenup that’ll stand the test of time, call us at 866 766 5245. Our skilled family law attorneys can help you with everything from prepping for your marriage, to handling your divorce, and everything in between.