Key Steps: How to Obtain a Prenuptial Agreement  

Couples who are planning to marry may face tough decisions concerning money, assets, property, and other issues. Some couples who are preparing to marry believe that signing a prenuptial agreement would be damaging to their relationship. Preventive actions, such as understanding the aim, value, and other clarifying aspects of the prenuptial agreement, may help to avoid problems throughout the writing process.  

Prenuptial agreements can be extremely beneficial for people who have significant assets or obligations before marriage or who have previously divorced, even though only about five to ten percent of people in the United States have them due to fear of giving the impression that they are hesitant to marry.  

Here we will go over the fundamentals of getting a prenuptial agreement.  

Establish the Value  

Prenuptial agreements are often associated with a couple’s love and trust (or lack thereof). Prenuptial agreements do not include love or trust. Rather, it signifies a desire for mental tranquility, propelled by an apprehension of the unknown. Here, the uncertainty is how the marriage will end, whether by divorce or death.  

Knowing where and how your assets will be held and divided after your death gives you peace of mind. If you want to guarantee that your assets stay in your immediate family, a prenuptial agreement might provide you with that assurance. Future generations will receive the funds used for education thanks to a prenuptial agreement. When a closely held family business is involved, the stakes are substantially higher.  

Disclose Everything Honestly  

The bedrock of any strong marriage is honesty. To start yours off on the right foot, make sure to include all relevant information, including your financial status. If you are engaged to be married, you should tell your fiancée the truth about your current financial situation and any inheritances or assets you may get in the future. Attempts to hide your wealth, in whatever form, may cause your prenuptial agreement to be invalid.  

Hire an Attorney  

If that’s something you’re considering, it’s important to realize that you should contact an attorney at every stage of the process, not just before signing a prenuptial agreement. An attorney can grasp the complex parts of the law, even though having your knowledge makes the process clearer. Additionally, their extensive knowledge in all areas of family law guarantees that you receive adequate counsel in your prenuptial agreement. Because of their extensive knowledge of your state’s marriage laws, they can answer any questions you may have and shed light on any gray areas. If your marriage does not pan out, they will have made arrangements to protect your rights and your property.  

Compromise  

An agreement of this kind removes some of the romantic magic from a proposal, which might be a touch unnerving for some. However, you should know that a prenuptial agreement is only the beginning of a lifetime of giving and getting and that you shouldn’t expect to receive 100% from it. Do not include any clauses that are ridiculous, demeaning, controlling, frivolous, or insulting in the prenuptial agreement. Including clauses like these could render the agreement unenforceable, even if the other party agrees. Things that shouldn’t be in a prenuptial agreement include provisions regarding child support or custody, non-monetary demands (like how a spouse should dress or the amount of makeup they should wear), or relationship terms (like how often you two should go on a date).  

Review and Sign  

Make sure that all of the agreed-upon clauses are correctly documented by going over the prenuptial agreement form with your attorney. Both parties must understand the prenuptial agreement in its entirety before signing. To avoid any last-minute stress or uncertainty, get the agreement signed at least a few days before the wedding. 

Maintain the Commitments  

When planning for asset distribution, beneficiary designations, and other parts of estate administration during marriage, the parties must keep the commitments made in the prenuptial agreement. It is critical to ensure that the plans are consistent with the prenuptial agreement when assets are “funded” (or titled) into the trust, as many couples do in their revocable estate plans.   

Couples can easily transfer an inheritance to the other spouse through life insurance without tying up any previously agreed-upon separate assets. 

Key Notes  

Nobody enters a marriage with the goal of ending it. However, prenuptial agreements remain a popular option for people to protect their riches. Furthermore, they can ensure that your financial path stays uncluttered, regardless of what comes your way. You should have an attorney prepare your prenuptial agreement and ensure it meets all legal criteria to ensure its authenticity.