When most people hear the word prenuptial agreement, they typically think of it as an agreement about assets and how those assets will be divided if the marriage breaks up. The topics covered in a prenuptial agreement are usually pretty standard.
Any real estate the couple owned independently before marriage is usually decided in a prenup. It’s especially important if the property is to be the marital home.
Ownership of a business is another issue that is usually covered. Otherwise, if one spouse owned a business before the marriage, a divorce would give the other spouse an opportunity to claim a percentage as part of the settlement.
Bank accounts, retirement accounts, personal property, such as antiques or other big-ticket items should also be included in a prenup. Prenuptial agreements can also spell out whether or not alimony will be paid in the event the marriage does not work out.
More and more people are including ‘lifestyle‘ clauses in their prenups that specify the couple’s behavior during the marriage. Some of the more common issues addressed in lifestyle clauses are:
- Whether or not the couple will have children. If they do have children, many prenups include clauses on how those children will be raised – i.e. which schools they will attend;
- How often a couple will have sex;
- How much weight a spouse can gain;
- How much time is spent with in-laws. A variation of this clause includes how much time each spouse can spend with friends – i.e. how many nights a month the husband can go ‘out with the guys;’
- Infidelity clause. This has become one of the more common clauses, especially in high-asset marriages. If one spouse cheats during the marriage, then the other spouse receives a sizeable amount of money from the cheating spouse.
When sitting down to draw up a prenuptial agreement, it’s important to remember that this will be a valid, legal document in the event the marriage breaks up. Make sure you have an experienced Kane County family law attorney representing your best interest.