The answer to the above question is yes. Signing a prenuptial agreement prior to your marriage can save you not only headaches, but also heartaches in the event of a future divorce.
This is especially true if either you or your intended spouse or both already own significant property or have children from a prior relationships.
Common prenuptial inclusions
The precise provisions of your prenup naturally depend on your own situation. In general, however, you likely will want it to include the following:
- Lists of your and your intended spouse’s current property and assets
- A provision that you both intend this respective separate property to remain separate property in the event of a divorce
- Provisions setting forth how the two of you intend to divide the property you accumulate during your marriage in the event of a divorce
- If applicable, a provision regarding how each of you intends to provide for your respective children from previous relationships
- A provision setting forth how you intend to handle the contributions each of you makes to your respective retirement accounts during the marriage
Prenuptial agreement exclusions
Keep in mind that your prenuptial agreement can only address financial issues and concerns. It cannot contain agreements of a personal nature. For instance, it cannot contain provisions regarding who will discipline your respective or joint children and how, where they will go to school, how you will divide household chores, where you will spend holidays, etc. Obviously, you can, and undoubtedly will, make oral agreements regarding these issues, but they play no part in your prenuptial agreement.