Going into a new marriage with children can feel like a risk. While you may feel like your new spouse will give your children the support they need, you may know from experience that relationships can change over time.
For most couples, a prenuptial agreement can give support similar to that of an insurance policy. You are not planning for something bad to happen; you are prepared if the relationship does not go the way you hope.
As you consider your prenuptial agreement, here’s what to think about to provide for your children.
Custody not included
A prenuptial agreement is primarily a financial document, and Minnesota has guidelines for what makes an enforceable agreement. While it can cover assets like businesses and household bills, it does not dictate specific responsibilities, like raising children.
When courts determine child custody and child support, they are looking at the child’s best interest. Although the provisions you have in mind for your prenup could be similar to what the court would decide, including them will not make them valid or enforceable.
A plan for your children
Just because you cannot include child support and custody in your prenuptial agreement does not mean your prenup cannot keep your children in mind when deciding what assets or accounts to include. Your prenup can protect assets, such as:
- Savings accounts
- Separate businesses
Even though these assets do not go to your children specifically, being able to retain a portion of them can help you provide the type of support you want your children to have.
As you and your future spouse consider your life together, it is essential to discuss your prenuptial agreement and the importance you place on providing for your children.