Prenuptial Agreement Types: What You Need to Know
A prenuptial agreement, also known as a prenup or premarital agreement, is a legal document that couples sign before getting married to protect their assets and finances in case of divorce. While it may not be the most romantic aspect of wedding planning, a prenup can provide peace of mind and prevent major financial and legal headaches down the line.
When it comes to prenuptial agreement types, there are a few options to consider. Here are the most common types of prenups:
1. Traditional Prenuptial Agreement
This is the most common type of prenup and is typically used to protect each spouse`s assets and income in the event of a divorce. A traditional prenup will outline how assets and debts will be divided if the marriage ends. It can also include provisions for spousal support (also known as alimony).
2. Infidelity Clause
An infidelity clause is a provision included in a prenup that outlines the consequences if one spouse is unfaithful during the marriage. While not enforceable in all states, this clause may provide a deterrent for cheating and can also be used as leverage in divorce negotiations.
3. Sunset Clause
A sunset clause is a provision that states that the prenup will expire after a certain number of years. This can be useful for couples who marry with significantly different financial circumstances and want to protect their assets until they are on more equal footing.
4. Lifestyle Clause
A lifestyle clause is a provision that outlines how the couple will handle certain lifestyle choices, such as how much time they will spend together, whether they will have children, and how they will divide household responsibilities. While not always legally enforceable, this type of clause can help couples clarify expectations and avoid misunderstandings.
5. Hybrid Prenuptial Agreement
A hybrid prenuptial agreement combines elements of different types of prenups to create a custom agreement tailored to the specific needs of the couple. For example, a couple may want to include traditional prenup provisions as well as a sunset clause and an infidelity clause.
Regardless of the type of prenuptial agreement you choose, it`s important to consult with a lawyer who specializes in family law to ensure that your prenup is legally enforceable and provides the protection you need. And while it may not be the most romantic part of wedding planning, a prenup can give you peace of mind and help protect your financial future.