What is Prenuptial Agreement Drafting?
A prenuptial agreement is a legal contract you and your future spouse sign before getting married. It covers key terms related to how you’ll manage your finances, assets, and debts during your marriage as well as how they’ll be divided if you get divorced.
To prevent disputes, your prenup needs to be legally solid and clear. It should also be balanced to protect both parties’ interests.
Read the rest of this article to explore prenuptial agreements in greater detail and how they should be drafted. We’ll also feature information about how a qualified lawyer can help you.
What’s Included in a Prenuptial Agreement?
A prenup usually contains important information about the following:
- Assets. Both parties’ assets must be included to show what they are bringing into the marriage. These include real estate and investments. There can also be information about managing assets acquired during the marriage.
- Debt allocation. This section of the agreement specifies who is responsible for personal debts and those acquired during the marriage.
- Alimony. Otherwise known as spousal support, this explains how maintenance will be defined.
- Child support. All terms related to child custody and visitation rights in the case of divorce must be specified.
- Inheritance rights. In some cases, a prenup can include terms to protect assets that should go to children from previous relationships.
- Marital responsibilities. The prenup can include information about spousal duties and who will be responsible for what under the agreement, such as specific lifestyle arrangements.
How Do You Draft a Prenuptial Agreement?
There are some tips to consider before you get married, and drafting a solid prenup is one of them. However, you should prepare for it prior to drafting it so you don’t miss anything important. Here are some tips.
Have Conversations with Your Partner
Before drafting a prenup, you should have open conversations with your partner about why you want to have one and what you want included in it. This will make the process of drafting and signing the prenup a more streamlined process.
Collect Financial Information
You should have all your financial documents prepared prior to drafting a prenup. These include tax returns, bank statements, real estate documents, and others. Transparency is key when drafting a contract, so both spouses should disclose all their financial information.
Have a Dispute-Resolution Clause
Should disputes arise between you and the other party, you should have a clear dispute-resolution clause. This outlines how disagreements can be resolved, such as via mediation or arbitration to reduce litigation costs.
Use Clear Wording
You should make the prenup as clear and specific as possible to avoid uncertainties. If there is vague language, this can be misinterpreted, which can result in disputes over what was agreed on.
Consider State Laws
Prenuptial rules vary in different U.S. states, so you want to check them prior to drafting your prenup terms.
Be Cautious of Using Templates
Although prenuptial agreement templates can make the process of drafting this essential document convenient, you should choose one wisely. It should be legally valid and customizable so that you can tailor it to your requirements.
On ContractsCounsel, one of the largest online legal marketplaces where you can connect with vetted lawyers, you can purchase a prenuptial agreement template that’s been drafted by a qualified lawyer and customizable. It can also include a consultation with the same lawyer who drafted it, should you have any queries.
Make the Prenuptial Legally Valid
There are some important tips to follow to make your prenup valid, such as putting the agreement in writing and ensuring that both parties disclose all their assets.
When signing the prenup, both parties must sign it, have it witnessed, and get it recorded by a notary public.
Collaborate with Professionals
It’s in your best interests to coordinate with various professionals during the drafting of your prenup, such as business advisors, who will help you protect your professional affairs. Another example is your tax advisor, who will assist you with all your tax obligations.
Do You Need a Lawyer to Draft a Prenuptial Agreement?
It’s advisable to hire a lawyer to draft your prenuptial agreement. They will help you in a variety of ways, such as by:
- Checking that the contract is legally enforceable should you have to go to court in future.
- Customizing the prenup so that it meets your requirements and needs.
- Ensuring that the prenuptial agreement complies with all relevant state laws.
- Avoiding making mistakes that can cost you in the future.
- Structuring the agreement so that it’s fair and reasonable.
- Avoiding any vague or legally complex wording that can be misleading.
- Ensuring that the contract has full financial disclosure between parties.
- Preventing any one-sided terms that can put you at a disadvantage.
- Noticing potential future risks, such as disputes.
- Maintaining an objective perspective, which is helpful because prenups can involve sensitive terms.
- Negotiating with the other party so that you can finalize favorable terms.
Where to Get a Lawyer to Draft Your Prenuptial Agreement
If you need to hire a lawyer to draft your prenup, you don’t have to feel stressed about where to find a reputable one. You can find a vetted, professional lawyer on online legal platforms like ContractsCounsel.
On the platform, you can search for the best lawyer for your legal requirements according to data such as their location, experience level, expertise, and credentials. You can also review client ratings for previous projects the lawyers have completed on the platform.
To hire a lawyer to draft your prenuptial agreement, follow these easy steps:
1. Go to the ContractsCounsel marketplace, where you can post your project for free. Include a few details of what you need.
2. You’ll receive multiple bids from lawyers directly on the platform who can assist you.
3. Once you receive the lawyer bids, you should review the lawyers' profiles according to data such as their level of experience and others.
4. Connect with a lawyer you think is best suited to your requirements and hire them.
