A prenuptial agreement, commonly referred to as a prenup, is a legal agreement between two individuals who plan to marry. It outlines how assets will be divided in the event of divorce or separation. While discussing a prenuptial agreement may not be the most romantic conversation to have before your wedding, it is an important one to have.
Top Things to Include in a Prenuptial Agreement
Here are some important things to include in a free prenuptial agreement form:
1. Financial Disclosure
Full financial disclosure is essential when creating a prenuptial agreement. Each party should provide a complete list of all assets, liabilities, income, and expenses. Failing to disclose all relevant financial information may render the prenuptial agreement unenforceable in court.
2. Property Division
The prenuptial agreement should clearly define how assets will be divided in the event of a divorce or separation. This includes both property acquired before the marriage and property acquired during the marriage. It is important to specify what will happen to assets that are acquired jointly, such as a house or car.
3. Alimony and Spousal Support
If one spouse earns significantly more than the other, the prenuptial agreement can include provisions for alimony or spousal support. This will determine how much support will be paid and for how long. This can be a sensitive issue, so it's important to work with an experienced attorney to ensure the agreement is fair and equitable for both parties.
4. Debt Allocation
In addition to asset division, the prenuptial agreement template in Oklahoma should also address how debts will be allocated in the event of divorce or separation. This includes credit card debt, student loans, and any other outstanding debts.
5. Estate Planning
A prenuptial agreement can also address estate planning issues. For example, it can specify what will happen to each spouse's assets in the event of death or incapacity. This can include provisions for inheritance, trusts, and other estate planning tools.
6. Dispute Resolution
It is important to include provisions for dispute resolution in these legal templates. This can include mediation or arbitration, which can help to avoid costly and time-consuming court battles.
Author Bio
Carl writes often about legal drafting and help.