How to Draft a Prenuptial Agreement

A prenuptial agreement - or prenup, as they are more commonly called - is a document that specifies certain requirements in different scenarios. Most address what happens to money, assets, children and investments in the event of death or divorce. In many cases, a wealthy individual will require a prenuptial agreement before marrying someone from lesser means, though this isn't always the case.

When you decide to draft a prenuptial agreement, it is best that you talk to your future spouse about it before drafting any paperwork. Some people will be offended at the prospect of signing a prenup, especially since the major consideration is divorce. However, such protection is now considered advisable considering the divorce rate in our country, and it is possible to draft an agreement that is equitable on both sides.

Not only should your prenuptial agreement address wealth, but it should also address debt. For example, if one partner is entering the marriage with $50,000 in debt, the prenup should address who is responsible for that debt in the event of a divorce. This includes revolving debt, such as credit cards, as well as student loans, personal loans, car notes and mortgages that might impact the financial future of the family.

There are multiple ways to draft a prenuptial agreement, and none of them is necessarily 'right'. The safest route, however, is to have a licensed and experienced attorney write it for you. This usually takes one to three weeks, and the lawyer will want to consult with both parties before getting started. You can also write it yourself - it doesn't have to contain the legal jargon present in most contractual agreements - or you can write it online using a template or form.