An engagement period is one of the most magical times in life for a couple in love. Even though the period can be stressful due to so much planning, it is still a time for celebration. The excitement can lead many couples to forget one important thing: the creation of a prenuptial agreement. Here are some important items to include in a prenup.
Your prenuptial agreement should include any separate property each spouse brings into the marriage. Let the document define that this separate property is to remain separate property if the couple were to get divorced. This prevents a contentious discussion about who will get to take the property in question.
The prenuptial agreement should also define what marital property is in the marriage. For the most part, anything acquired during the length of a marriage is considered marital property, but there can be some gray areas. A clause in the prenuptial agreement about marital property can make the divorce discussions much less contentious.
Every couple will receive gifts during their marriage, some more extravagant than others. It is important to define gifts as separate property so one spouse doesn’t get to take them from the other.
Do not forget to include how retirement benefits will be handled should the couple’s marriage end in divorce. Also include the debts the couple accrues during the marriage and even who gets the engagement ring should divorce occur.
Are you getting married in New York? A prenuptial agreement is an important document that every couple should consider creating. Speak with our firm today to discuss your relationship and what you should include in the document.