To correctly write a Prenuptial Agreement, it is essential to understand what must be included in the document.
To assist you, we have included the steps you must follow below to draft your Antenuptial Agreement without any difficulties.
Include each party’s details
The first part of your Prenuptial Agreement includes the full name and contact details of each party.
Financial information and details regarding a spouse’s legal counsel will also be provided.
It is also necessary to add each spouse’s martial history and if they have any children.
Choose how property is distributed
Two types of property that should be mentioned in your Premarital Agreement. The property you should mention include:
- Property owned prior to marriage
- Property obtained during the marriage
For property owned before the marriage, specify which property is owned by one person, and which is shared.
It should also be specified that if a spouse obtains property during the marriage, it will belong to that party or be shared.
Specify how the property will be divided in case of the divorce, this can be determined by state law, or just to split the property half-and-half.
Choose how business is distributed
You must state how much your business is worth before you get married.
If you own a business prior to the marriage, it isn’t necessary to share any future increase in value of that business during the marriage.
If the business is acquired during the marriage, state if you would like to share the increased value of the company or not.
Decide who is responsible for debts and taxes
Include if your debts or your spouse’s debts obtained before marriage will be only your responsibility or both of your responsibility.
This can be applied to debt obtained during the marriage as well. If you decide to share the debt, you can choose to split it by a percentage or refer to your state’s laws.
You must also mention if you are going to file your taxes jointly or separately. Filing jointly means you could be liable for your partner’s unpaid taxes.
Include how the home will be divided
In this section, enter the details regarding how a marital home will be divided. The marital home could be either party’s separate property or a shared marital home.
The same rules apply to how household expenses are split. Each spouse can pay their own specific expenses as well.
Conclude your agreement
Add the final information to your contract, including various clauses and provisions, such as:
- Waiver of rights
- Provisions for disability and death
- Conflict resolution
- Disclosure of financial information
- Date and state laws that will be followed
Once this information has been added to your document, both parties can sign the agreement.
Signing requirements
Each state has its own rules for how to sign a Prenup Agreement. For instance, a Prenuptial Agreement in Texas requires only both spouses to sign the document.
The different types of requirements for signing a Prenuptial Agreement include:
- Signature of both spouses
- Each signature must be notarized
- 2 witnesses and a notary public
- 1 witness and a notary public
- Prenuptial agreement acknowledgment must accompany the Prenup
Before signing a Prenuptial Agreement, make sure to check with your state’s requirements.