About a month ago, we wrote a post about prenuptial agreements. In that post, we outlined how prenuptial agreements aren't immune to legal challenges, despite claims and perceptions to the contrary. There are plenty of ways that the content of a prenuptial agreement could make it susceptible to a legal challenge, just as the amount of time and consideration the spouses have before signing the contract can impact it's legality and validity.
Today we're going to talk about prenuptial agreements in a more specific manner. Let's discuss the many things you can, and can't, include in a prenuptial agreement.
We will start with the positive side of things first. What can you include in your prenup?
- You can define what property is separate property and what is marital property, and you can also define the means and process for how property is divided in case of divorce.
- You can make important financial distinctions, such as protecting your estate plan, noting which spouse is responsible for certain debts, and even making provisions for children from previous relationships.
- You can even define what responsibilities each spouse will have during the marriage.
With all of that said, there are a few things you can't discuss in your prenup, such as:
- Nothing can be included in your prenup relating to child custody or child support.
- You also can't include anything illegal, which should seem obvious but you'd be surprised what some people include in their prenups.
- You can't include clauses that waive your right to alimony or that encourage divorce.
Source: FindLaw, "What Can and Cannot be Included in Prenuptial Agreements," Accessed Aug. 10, 2016