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Consider the prenup, and double check your provisions

There was a time in society when the prenuptial agreement was seen as a terrible and deceitful contract that few couples should ever even give a second thought. However, as the years have passed and people have begun to fully consider the ramifications not just of a prenuptial agreement, but of marriage and divorce in general, the prenuptial agreement has gained a lot of mainstream support. Couples now take these contracts seriously and realize the tremendous benefits that they offer.

With that in mind, let's talk about what you can, and can't, include in the prenuptial agreement -- so that you are better prepared for the preparation of this critical document.

If you decide to sign a prenup, you can discuss many topics. Some of the obvious ones are distinguishing marital and separate property, protecting your estate plan in case of divorce, and safeguarding critical assets from the other spouse (such as a family business) in case of divorce. However, a prenup can also address other issues and needs, such as ensuring that a child from a previous relationship is taken care of and that the duties and responsibilities during the marriage are appropriately and accurately reflected and fulfilled by the spouses.

Of course, there are some topics that are off limits in a prenup. You can't discuss child custody or child support in a prenup.  While you can waive or limit rights to spousal support when you are drafting a prenuptial agreement, this is a highly technical issue about which you should consult an attorney. You also can't encourage divorce or talk about anything illegal.

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NACHLIS & FINK

Nachlis & Fink
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