What does a prenuptial agreement form include?
The main purpose is simply to protect the financial rights of both spouses in the case of a separation. This separation may occur as a result of death, or in an event of a divorce. So, it can be quite important to have an idea about what this form does. Our prenuptial agreement form template is already equipped with the statement that each party is to withhold their assets. But there might be more you need.
- Assets: This agreement contains some non-marital assets like separate properties obtained before marriage, heritage or presents obtained during the marriage, and indemnity payments. On the other hand, spouses' earnings, items bought using both of their earnings, and mixed properties that were previously separate are considered marital properties.
- Debts: The prenuptial agreement form may also include the management of debts. Before marriage, couples may have been in debt in different ways. This issue requires determining whether the debt should be divided between the couples, just as with the assets. On the other hand, in an agreement where a decision is made to combine previous debts, it is determined which party will be responsible after separation and to what extent.
- Businesses: The agreement forms may also include arranging the financial stakes of individuals in businesses they have established or partnered with. According to the decision made, the profit from the business can be shared between the two parties or kept separately in case of marriage or the end of the relationship. This can be very important when one considers his/her future business plans.
- Children: Finally, if couples have children from previous marriages, with a prenuptial agreement form, one can determine their children's financial position in the family. Parents who want to protect the financial future of their children, from a previous relationship(s), can guarantee this with the decisions they will make in the agreement.
Why should you have a prenuptial agreement form?
There are many who argue that implementing such an agreement shows distrust between couples. Despite this attitude, people who want to get married want to be more financially independent. Although not obligatory, creating a prenuptial agreement form that serves to protect financial rights can be beneficial in many ways.
- Firstly, the couples who create a prenuptial agreement form can determine which property will belong to whom during the marriage and after a separation. It gives couples the opportunity to decide for themselves the fate of their assets. It is also beneficial in determining which property will be marital or nonmarital. This may become a crucial topic, especially when a divorce situation occurs.
- Debt-related decisions can save couples from a possible heavy debt burden. It creates a more financially equitable environment for couples to marry without putting their own financial responsibility on the other party.
- People who have much more assets than their partners can benefit from this agreement in a different way. Someone who is sensitive about their financial assets may think that their partner is to marry them just for the wealth. With the creation of a prenuptial agreement form, people can feel more secure about their financial situations.
- Couples can make healthier decisions as financial information is openly discussed beforehand. Emotions felt in a divorce are likely to make this process a tricky one. In addition to this, it should not be forgotten that divorce cases are not free.
How to create one using forms.app?
You can just start by using our prenuptial agreement form template. It includes that both parties are to keep what they already own individually. If you have different ideas though, forms.app will give you enough tools to create and manage the agreement, including boxes to fill, space to write assets that weren't mentioned, etc.