Sample Prenuptial Agreement
How Much Does a Prenup Cost?
Creating a Prenuptial Agreement costs very little compared to the potential costs of not having one in place should your marriage come to an end. With all the things on your mind in preparation for a wedding, the last thing couples want to think about is what happens should you divorce. Beyond the romance and/or religious implications, marriage legally binds two people to each other for life. There are many things to consider when entering a marriage, not the least of which is what happens if you want to get out of the marriage. A Prenup does just that. It is a written contract between two people before they are married.
Given that half of all marriages end in divorce, more people are entering into Prenuptial Agreements. A Prenup is a legally binding contract that details in advance how marital assets, property and money will be distributed to you and your former partner, should the marriage end. Without a Prenup, you are at the mercy of the court to resolve all disputes regarding distribution of assets and spousal support. A Prenup alleviates such uncertainty and allows marital partners to agree in advance not only what they are getting into, but perhaps just as importantly, what happens should they want to get out of it. Download a free Prenuptial Agreement here.
Better Prepared Than Caught Unawares
A Prenup is never a bad idea. In the best-case scenario, you don’t divorce, and the Prenuptial Agreement never comes into play. In the worst case, you have a detailed agreement in place to avoid any disputes and misunderstandings, providing each partner realistic expectations of how the financial aspects of the marriage will be dissolved.
Who Needs a Prenup?
While there are no specific financial or legal criteria for who should have a Prenup, it’s safe to say, that if you are going to be married and you own or plan to own anything, if you have or plan to have any income, then it is wise to have a Prenup. Furthermore, the more you have or anticipate having, in terms of assets and income, the more important it is for you to have a Prenup. Granted, a Prenup is not the most romantic thing, but neither is divorce. Download a free Prenuptial Agreement here.
What Kind of Information is Included In a Prenup?
A Prenup typically lists all the assets and property each person owns, as well as any debts, and specifies what each person's property rights will be after the marriage. While younger couples may enter marriage with fewer assets and debt, the trend is that people are waiting to get married until they are older and have more to bring to the marriage, and more to lose. You or your partner may have built your own business or investments or retirement accounts. Likewise, you or your partner may have incurred debts such as student loans, credit card debt or mortgages. The older people are when marrying, and given second and even third marriages, the more they have likely accumulated and should be included in a Prenuptial Agreement.
Our website will help you create a free Prenuptial Agreement. We offer free on-line samples and templates of legal forms including Last Will and Testament and Power of Attorney, which you will want to update when there is a change in your marital status.