You hear a lot of talk about prenups, but what does a premarital agreement look like?
Where can one find a premarital agreement sample?
It’s hard to find a premarital agreement sample because there’s no one-size-fits-all solution. Prenups are drafted based on the individual couples’ needs. Topics for your prenup might include:
1) Defining your pre-marital assets. Most premarital agreements also include provisions for what will happen if you use your pre-martial assets to buy something for both of you, like a house. Would you get your investment back if something was to happen to your marriage? Or would that be a gift that you made from your pre-marital assets to both of you?
2) Defining your marital assets. Will you each keep your own income and be responsible for your own savings? Or will you create marital assets by putting some of your money in joint names? And, like the questions above, if you take some of this joint money and use it, say, for a new bathroom in a house one of you owned prior to the marriage, would you reimburse the joint account if you got divorced later?
3) Spousal Support and Alimony. This is a hot topic. If you got divorced, would either of you pay spousal support, alimony or maintenance to the other person? If you might pay spousal support, would you put any limits on the amount or amount of time it would be paid? Would any of these answers change if you had small children who weren’t in school?
4) Debt. Is one of you a spender and one of you a saver? If so, you’ll want to talk about how you’ll handle borrowing, credit cards, and debts. You’ll also want to talk about savings and retirement planning.
These are just a few of the examples of things that you’ll want to think about when drafting your own premarital agreement or prenuptial agreement.
Why would someone want to have a Premarital Agreement?
- Start your marriage with a clear understanding of how you’ll handle finances
- Learn to talk about tough issues
- Preserve your assets and income
- Make sure you benefit from your groundwork before you got married: education, efforts and ideas. Many prenups include more generous provisions for accomplishments after your marriage, as opposed to before.
- Protect each other from your old debts and obligations…or new debts and obligations.
- Protect your new spouse and your children from prior relationships in case you get divorced or predecease them.
At Peace Talks Mediation Services, we help couples negotiate premarital agreements in a confidential, neutral setting. Our team of attorneys and therapists (who truly work together as a team, right during your mediation session) will help you work through even the scariest issues.