When creating a prenuptial agreement, your goal is simple: to protect assets that you bring into the marriage (in the event of a future divorce).
It’s a myth that you can include anything and everything in a prenuptial agreement. Instead, there are some items that you can’t include. Knowing what these are will make it much easier for you to create a document that both parties will feel comfortable with.
Here are a few of the more common items that can’t be included in a prenuptial agreement:
— Decisions related to child custody or child support. Although many people would like to add provisions for both of these, it is not permitted. The family court is in charge of making decisions regarding child custody and child support.
— Personal matters. This is one of the biggest mistakes people make when creating a prenuptial agreement. In addition to financial matters, they attempt to make rules in regards to personal affairs, such as where to spend the holidays or details in regards to raising children.
— Encouraging divorce. In short, this is when a detail is included that provides a financial incentive for filing for divorce.
There are things you can include in a prenuptial agreement and things that are not permitted. When you understand what you can and can’t do, you and your soon to be spouse will find it easier to create an agreement that you’re both happy with.
With so many finer details and potential landmines, leave yourself plenty of time to create a prenuptial agreement and review it with your legal and financial team.
Source: FindLaw, “What Can and Cannot be Included in Prenuptial Agreements,” accessed Nov. 28, 2016