Prenuptial Agreement, Things You Should Know First
Have you ever heard about a prenuptial agreement? Some old couples are familiar with this, but the new one may not be familiar with this term. Basically, a prenuptial agreement is necessary for every couple. This has nothing to do with emotional decisions because it more likely involves logic rather than emotion. Before signing your agreement with your couple or fiancée, you need to know several things first regarding this ‘vow’ first.
What is the Prenuptial Agreement?
Prenuptial agreement is basically a contract between couples before marriage. This contract has to make before marriage because it contains the rights for each spouse. In case of divorce or separation, this contract will determine what and which rights each spouse will have. For example, which spouse will run the business and will have the assets. It also determines the financial arrangements of each spouse in case they decide to divorce or separate. Looking at the number of divorces in many countries around the world, agreement indeed plays its role in protecting and covering the rights of the spouses. This contract may sound like you are a calculating person who calculates detailed things and aspects in your life. Do not be mistaken, one has to involve not only emotion in having a relationship but also logic. This contract exists to protect you from financial loss and other disadvantages in the future.
What should be included in the contract?
Well, the coverage in a prenuptial agreement may vary according to the couples needs and specific situation. However, there are several basic and common things which are usually included in the agreement.
- Assets and properties. They are most likely included in the prenuptial agreement. Each spouse has to agree on what assets and properties should be separated in case of divorce and separation. Whether it is inheritance or personal assets and business, when they think it is necessary to put them in the agreement, they can do it.
- Financial support. Also known as spousal support, it is given by one of the spouses in case of divorce and separation. It is likely because one of the spouses cannot support his or her own self.
- Inheritance and Children. If the couple has children after the marriage, they can write in the agreement who has the right and will be responsible to support the children.
Knowing that agreement template is essential and important for every couple, you can start to search for prenuptial agreement template and form, and discuss it with your fiancée or spouse.