A prenuptial agreement is a way of protecting you and your soon-to-be spouse’s livelihoods and finances as they are and as they might be in the future. While it may sound complex, knowing what to prepare may help smooth out the process.
When you look at drafting a prenuptial agreement, you want to know what goes into one and how best to communicate the gravity of the situation to your spouse.
As New Jersey statute describes, each party may use a prenuptial agreement to contract around property, ownership and other arrangements throughout the marriage.
You can include provisions that distinguish between your shared marital property and property you wish to remain separate. There are options to keep debts separate so you and your spouse avoid debt liability. With the right contract, you may also describe each spouse’s responsibility in a marriage. This may include:
- Who manages bills and expenses
- Who arranges investing in housing or business projects
- What arrangements help put you or your spouse through school
Child custody and any provisions that encourage divorce are not items a prenuptial agreement includes.
Communication with your spouse
When discussing with your partner, you want to choose the right time and place in a way that allows both of you to come to the table with clear heads.
A prenuptial agreement is not a precursor to a future divorce. It is a tool that allows both you and your spouse to customize your marriage in a way that suits both of your needs. Communication and proper documentation are both vital to coming to a prenuptial agreement that you can rely on.