Thinking of creating a prenuptial agreement? Experts note that these are almost always enforced if you wind up in divorce court. That said, you do need to know what you’re allowed to add in, as a prenup with illegal provisions will not be enforced.
Below are three things that you can have in your prenup, helping to avoid any surprises and to streamline the entire divorce process:
- Future business income. Your company may just be starting out now, but what if it’s worth $10 million when you divorce?
- Money from an inheritance. Your parents intended that money to stay within your family.
- Family heirlooms. You may have numerous assets with a lot of value that goes beyond their strict financial value.
Now, to avoid any serious mistakes, take a look at three things that you can’t put in the prenup:
- Limits to child support. You cannot, for example, say that you won’t pay any support at all if your ex gets custody of the kids.
- Limits to custody. You also can’t sign away your own custody rights or take them from your spouse.
- Agreements not based on the full truth. For example, you and your spouse must fully disclose all of the assets that you each control before drafting the prenup, to ensure that you’re each signing of your own free will, not based on lies, deception and fraud.
It’s crucial to know all of the legal steps that you should take if you do decide to use a prenup. These have to be written and filed properly well before the wedding day if they’re going to stand up in court.
Source: Bankrate, “Engaged? This is why you need to sign a prenuptial agreement,” Robert DiGiacomo, accessed Oct. 13, 2017