A prenuptial agreement, or prenup, is a legally binding agreement you enter into with your significant other before heading into your legal union. It outlines what each person brings into the relationship and helps with future financial planning and well-being. Most prenuptial agreements help build a strong financial foundation with your partner based on shared goals.
As you learn how prenups work, be sure to utilize the resources provided by Neptune to help you create a custom agreement that protects you. Whether you have a question or want help with a lawyer recommendation, we can help you navigate this process with ease.
Key Takeaway: Start Your Stress-Free Prenup Journey with NeptuneBook Your Free Lawyer Consult
A prenup is a versatile tool that provides you with the ability to create specific decisions important to you and your partner. However, there are laws in each state about:
That’s why it’s a good idea to use Neptune’s resources to help you navigate the specific prenup laws in your state. The following information is an overall guide to what happens when you put these tools into place.
Your prenup requires full disclosure. Each of you needs to catalog your assets and disclose them within the document. That includes:
The details are important here. The objective is to make sure there’s open communication about what you own and owe heading into the relationship.
Martial property refers to any property or investments obtained during the union. Each state defines martial property a bit differently. Your prenup must address that. Prenups may be able to circumvent some of the state-specific rules about the division of marital property.
Remember, your prenup is a great time to openly communicate about the finances in your relationship, and it’s always best to start this conversation early. That way, you can work with your partner to find a solution that works for both of you in the future.
Some prenups allow for lifestyle clauses. These are clauses that provide insight into non-monetary assets. That could include things like vacations or fidelity. Not all states allow them. Some states do limit the types of lifestyle inclusions possible. Be sure to know what specific rules apply in your area. Neptune’s tools can help you to minimize the risk of making statements within the prenup that could limit its validity later.
Ready to talk to a Lawyer? Schedule a Consultation Today.Ask a Prenup Question for Free
One of the most important parts of creating a prenup is ensuring it will be upheld if necessary at some point in the future. This is called ensuring the validity of the prenup.
Basic prenup templates exist but they seldom address your specific goals and needs for a strong financial future with your partner. Working with a qualified family lawyer through Neptune will help you navigate difficult conversations with your partner, make sure the correct questions are addressed and build a prenup that is customized to your needs.
Both parties could agree to the same terms as most other people. Other times, you both have specific needs and desires you wish to fulfill within this agreement. In all situations, consider the following steps to ensure your prenup works the way you desire:
Having two attorneys, one for each party, helps to demonstrate the fairness of the prenup because judges can see that both parties had an attorney representing them in the process. One of the more common reasons the court strikes down a prenup is because there was only one lawyer involved.
It’s a good idea to consider the value of using a prenup in a variety of situations. You don’t have to have a reason to do so. Prenups are beneficial to most relationships heading into more serious ground. They offer clarity and insight into the expectations of each party and are a tool you can use for financial planning.
There are some situations in which creating a prenup could be very helpful. Examples of this include:
If you and your partner are thinking about the future, it’s a good time to find out how a prenup works in your state. You can complete the process and get the information you need using Neptune’s 3-step process. We can match you with a vetted attorney who can minimize the risk of communication issues and provide you with clarity on your rights.
Creating a prenup that aligns with your shared financial goals is a proactive way to take your relationship in a positive direction. It doesn’t have to be overwhelming. We can help you and your partner build a solid foundation for your relationship that addresses your current and future needs. We can help you both get on the same page so you are better prepared for whatever life may throw at you.
Contact Neptune today to get started and go over your options.