Key Subjects to be Discussed and Included in a Prenup
If you are going to have a prenup agreement, there are several key issues which must be discussed and resolved with your soon-to-be spouse:
1. List all assets, liabilities, income, and expectations of gifts and inheritances.
2. Describe how premarital debts will be paid.
3. Resolve what happens to your premarital property in reference to appreciation, gains, income, rentals, dividends and proceeds of such property- in the event of death or divorce.
4. Decide who, or if both of you, will own the marital residence and secondary homes in the event of death or divorce.
5. Specify the status of gifts, inheritances, and trusts either spouse receives or benefits from, whether before or after marriage.
6. Clarify what will happen to each type of property, whether jointly or individually owned, such as real estate, artwork and jewelry.
7. Figure out alimony, maintenance, or spousal support, or provide for a waiver or property settlement instead of support (to the extent allowable by law).
8. Detail death benefits, stating what you will provide for in your will.
9. Decide on medical, disability, life or long-term-care insurance coverage.
Of course, there are many other issues and subjects that can or should be included in your prenup, depending on your unique situation.
For more information about the issues that should be included in a prenup, please contact me at David@GabayLawFirm.com or call 631-467-4177.
Specify the status of gifts, inheritances, and trusts either spouse receives or benefits from, whether before or after marriage.