A prenup is a legal contract of agreement between two people who are getting ready to get married. It protects the rights of women and men should the marriage end in divorce. Prenup agreements are thought of as a legal weapon used by the rich in divorce, but it is just a misconception.
The contract specifies the liabilities and assets that both the people bring when they get married, and it also dictates what the property rights of each partner be during the marriage as well as after divorce. So as the people are marrying later in their lives and women have more assets than before, prenup agreements are important for women to protect their financial rights.
1) Premarital property
The property that you already possess before your marriage is considered premarital property. For instance, if you owned a house before marriage, and you reside in it with your husband after marriage, then this will not make it marital property, and you do not even have to add your husband to that property. Every state has its own rules and regulations. So without a prenup, the court will divide all the assets in case of divorce. While a prenup contract can protect your personal properties and assets in case of divorce.
Also known as spousal support. The prenup agreement can determine the amount of alimony that each party will get. So it is important for women to consider the role they will play in the marriage. There are certain questions you, as a woman, should ask yourself. Do you want to take time off from your job or just reduce your workload to look after your children so that your partner can properly do their work? So if you want to give up something, then you can agree that you will get compensated for that in your alimony.
3) Financial plans
Before marriage, decide your future financial plans, spending, and saving strategies. How much money will be put in a joint account, and how much in separate accounts? Will there be any spending allowances given? Who will contribute financially to the house, bills, and other household costs?
You will receive many gifts during your marriage. Usually, jewelry is given as a gift to women by men. So a properly written prenup with a prenup attorney in Houston tx, you can specify the gifts to be the asset of the recipient. In this way, you can keep the gifts separate from the splitting of assets during divorce.
5) Infidelity clause
This clause helps you out when your partner is cheating on you. No woman should have to go through this. To protect your rights and make him pay for it, especially if you have a lot of assets and property. Put this in your prenup contract and protect your rights.
6) Family property
Safeguard your family property, such as heirlooms, real estate, shares, etc., so that it stays in your family and does not pass on to the family of your spouse in case of divorce. If you have children from your prior marriage, then use this agreement to protect the property and inheritance rights of your children and even your heirs.
7) State law
Every state has different rules and regulations. So it is important to specify the state where this prenup contract is valid.
A prenuptial agreement is very important for a woman entering into marriage because you do not know what will happen in the future. This is why it is important for you to have a skilled lawyer to write up your contract.