Engaged couples may eagerly anticipate and plan their weddings, yet overlook important elements of their marriages or even potential divorces should the marriages not survive.
Prenuptial agreements, once believed useful only for the rich and famous, today enable everyday couples to appropriately address a myriad of topics. Partners should learn the basics of these marital contracts and how they may protect all parties.
Provisions related to children
As explained by Forbes, a prenup may not provide details related to child support, custody or parenting should the parents divorce. The decisions regarding these issues happen during the divorce negotiations.
However, MarketWatch notes that a prenuptial agreement may include some lifestyle clauses that pertain to children, even during the marriage. An example would be the agreement between both parents to raise their children in a certain religious faith.
Provisions related to spousal support
In a prenup, partners may agree not to seek spousal support from each other in the event of a divorce. They may also use a prenup to outline parameters for the payment of alimony should the marriage end in divorce.
Provisions related to general lifestyles
Couples should know that a prenuptial agreement is not intended to allow one person to control the other. Stipulations like the requirement that one person maintain a certain weight or hair color, for example, may contribute to the contract being declared invalid.
Full disclosure required
Both parties must fully and openly disclose all assets and debts to each other when creating their prenuptial agreement. Failure to do so may also render the contract invalid down the road.