Entering into marriage is something that should not be undertaken without considerable thought. It is supposed to be a life-long commitment, and should be approached in that manner. Sadly, over 53 percent of all marriages end in divorce in the United States.
With divorce rates still so high, many people who decide to get married have a prenuptial agreement created. This legally binding contract is almost like an opt-out paper, giving one or both people in the marriage a valid reason to divorce if something listed in the agreement occurs, and how assets will be split if this happens. Many divorce attorneys state the failure to agree on how to split marital assets as the major reason that prolong divorce cases. If these issues are decided prior to the marriage and the individuals still agree if and when the marriage ends, the divorce proceedings will run very smooth.
Common Clauses In A Prenup
• Infidelity. If either partner cheats on the other, the marriage will be terminated. There may be an additional clause on what happens with marital assets when someone is unfaithful.
• Personal Assets. The most common cause in a prenuptial agreement is that whatever either person has brought into the marriage in the form of asset is theirs to keep in the event of a divorce.
• Marital Assets. Some couples predetermine how marital assets will be split in the event of a divorce.
• Validity. Many prenuptial agreements will have a “marriage validity” clause stating that the other person is not entitled to any assets, personal or marital, if the marriage ends before two complete years have passed from their marriage date.
Unusual Clauses In Prenup Agreements
• Mother-In-Law Rules. Some agreements have been known to contain wording that limits the amount of time a mother-in-law can spend in residence at the couple’s home, how many visits are allowed per year, and how much interference she can have in their lives.
• Weight Restrictions. Some couples opt to put a weight restriction in their prenuptial agreement stating that their spouse cannot gain more than 10 pounds, unless pregnant, without divorce proceedings starting.
• Separate Vacations. Some prenuptial agreements demand that the couple take separate vacations from each other each year – no questions asked.
• Intimacy Levels. There have been several prenuptial agreements drawn up that require a minimum amount of intimacy each week and the failure of either spouse to perform in this manner can result in an automatic divorce.
Is It Necessary To Have A Prenuptial Agreement?
Many people believe that by creating a prenuptial agreement they are setting their marriage up to fail. They believe that they are creating conditions in which the marriage has no possibility to succeed. However, a prenuptial agreement is simply a contract, an agreement, and a way for each individual to protect their best interests. Just because you have a prenuptial does not mean that you will have to use it in the future.
A prenuptial agreement is something that should be considered when one or both parties is entering into a marriage with their own personal assets and wants to make sure that these assets are protected. These agreements also provide clarification for both parties on where they stand if they should decide to separate at a later date.