Areas for Inclusion in Prenuptial Agreements
When considering what to include in a prenuptial agreement, you must be sure and cover all bases. Provided your agreement is reasonable and fair to both parties and adheres to the legal requirements outlined in Article 3 of the Georgia Domestic Code, there are a variety of terms you may include. The following are key areas to consider:
- Property division: You may include a stipulation on how marital property earned or acquired during your marriage will be divided.
- Alimony: If one spouse earns less than the other or sacrifices their career to care for children, alimony may be awarded, but you may set conditions or limits in your prenup.
- Business interests: If you own or intend to start your own business, the contributions your spouse makes to it during your marriage could result in a future ownership interest in that business for your spouse. However, how ownership in any business shall be treated can be addressed in a prenup.
- Retirement accounts: Once you are married, contribution to a pension and/or 401k accounts will be considered marital property, and it is important to discuss in your prenup how these will be divided.
- Attorney’s fees: In contested divorces, attorney’s fees can drive up costs. You may stipulate now that each will be responsible for their own legal fees.
- Confidentiality agreements: To maintain privacy, you may stipulate in your prenup contract that any details surrounding your marriage or divorce and any settlements received by kept confidential.
Child custody is not determined by prenuptial agreements, but you may stipulate an enforceable collaborative process when it comes to making arrangements.