| Even if you have never thought about signing a prenuptial agreement, it's wise to consider it now. That's because one or both spouses in a remarriage may have significant assets, business interests, or children to consider. Here are the issues that prenuptial agreements typically address:
| A prenuptial agreement:
- Details the assets and liabilities that each partner brings into the marriage.
- Spells out a couple's agreement on the division of assets in the event of divorce.
Assets and liabilities
- What assets are you each bringing into the marriage, and what is their value?
- Which assets become marital property, and which ones will continue to be owned individually?
- Will gifts and inheritances be shared or separate?
- What liabilities do each of you have?
If you divorce
- How will you divide assets?
- Will either spouse receive a lump-sum settlement or alimony?
- What will go to your children from previous marriages?
- What will go to children you have together?
- Will special contributions (e.g., limiting a career for the benefit of children or the other spouse) be considered?
- What if one spouse brings more liabilities to the marriage than the other?
- Will there be a time limit or condition (e.g., 10 years of marriage, the birth of a child) that will end the prenuptial agreement?
| Writing a prenuptial agreement is not a do-it-yourself project
- You and your future spouse should hire separate attorneys.
- The best prenuptial agreement is one that protects the interests of both spouses without causing mistrust.