What Can a Prenup Do?

A prenuptial agreement, or a premarital agreement, is a legal contract between two spouses who intend to marry. The agreement will outline the couple’s plans for handling certain marital matters like finances, debts, and property, both while they are married and in the possible event of divorce. Couples all have their own reasons for pursuing a prenuptial agreement, but those interested in protecting family or inherited property or in avoiding commingling prior business or financial accounts with marital property may find a prenuptial particularly beneficial.

Couples can decide for themselves what issues they would like their prenup to cover. Generally, most prenups can address the following:

• each spouse’s rights and obligations for property owned by either or both;
• each spouse’s rights to sell, use, transfer, mortgage, or otherwise manage their property;
• how each spouse’s property may be distributed or handled upon separation, divorce, death, or any other event;
• whether either spouse will receive alimony in the event of separation and, if so, the amount and duration of payments;
• who will receive death benefits from each spouse’s life insurance policy;
• any other relevant matter that doesn’t violate the law.

Note that a prenuptial cannot determine child custody or child support, as these issues are discussed in relation to a child’s best interests.

Schedule a free consultation with Case Legal Counsel online or at (208) 203-1295 to discuss your prenup with Donna today.

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