Prenuptial agreements are a valuable precaution that many couples sign before entering into a marriage. Under the best circumstances, these agreements protect both parties and can help reduce conflict within a marriage.
What to include in a prenup can be a difficult decision to make. A well-considered prenup will have provisions that forecast all the potential financial conflicts that might arise during and after marriage. There is also information that all prenuptial agreements in Alabama must include for the courts to consider them valid.
At Summit Family Law, we know what information is needed for a prenuptial agreement. Our experienced attorneys can work with you to create a prenuptial agreement that captures all your needs and is valid under Alabama law. Contact us online or call (256) 859-7277 today to schedule a consultation.
Five Things to Include in an Alabama Prenup
A prenuptial agreement is a premarital contract that details how the couple will handle financial issues throughout the marriage and in the unfortunate event of a divorce. There are certain subjects that every couple creating a prenuptial agreement should at least consider.
Assets and Debts Each Party Brings to the Marriage
A prenuptial agreement should include a detailed and accurate accounting of all the assets and debts each party brings to the marriage. It should also describe which assets and debts will become marital property and what will remain separate.
For example, if one spouse has a large amount of student debt, the prenuptial agreement should dictate how that debt will be paid off and who will be responsible for the debt in the event of a divorce. Detailing all the premarital assets and debts and how you wish to handle them can give you control over your finances instead of leaving decisions up to the courts.
A Breakdown of Financial Responsibilities
The allocation of financial responsibilities is a significant source of tension, particularly when not discussed beforehand. A prenup should consider how you and your spouse will pay the bills. It should also dictate who gets the benefit of those payments. For example, you can decide that one spouse will pay mortgage payments but that both spouses will share in the home’s equity when you sell the house.
How Children from Previous Relationships Will Be Treated Financially
It is critical to consider how you wish children from previous relationships to be treated during your marriage and after separation. Provisions that ensure your children’s needs will be met and that they get a fair share of any inheritance are essential. Every parent should make it a priority to ensure their existing children are treated fairly. Anything less can be a source of potentially irreconcilable family tension.
How to Allocate Assets and Debts After a Divorce
One of the most important aspects of a prenup is determining how to divide assets and debts if the couple splits up. Dividing assets and debts is one of the most challenging procedures in any divorce. It is often much easier to make these decisions going into a marriage than coming out of one.
Provisions Governing Alimony and Spousal Support
In Alabama, couples can make decisions regarding alimony and spousal support as part of a prenuptial agreement. If there is a significant income gap, it is essential to consider how each spouse can maintain their living standards independently. Doing so might help both parties avoid costly court battles after a divorce.
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Three Things Not to Include in a Prenup
As important as knowing what you can put in a prenup is understanding what you cannot. There are provisions that Alabama courts will not enforce, even if both parties agree to them.
Provisions That Dictate Child Custody or Child Support
In Alabama, the court has the authority to make all decisions concerning child custody and child support regardless of prior agreements made by the parents. The courts determine child custody and child support based on the best interests and needs of the children.
Provisions That Encourage Divorce
Judges in Alabama will set aside any prenup clauses that encourage divorce. Couples should avoid adding any provisions that a judge might construe as incentivizing divorce.
Provisions Governing Personal Matters
A prenuptial agreement in Alabama should focus on financial matters, not personal ones. For example, a clause in a prenuptial agreement dictating that one spouse must do the dishes every night is unenforceable.
Contact Us for Help With Your Alabama Prenup
If you are getting married and have questions regarding what to put in a prenup, our team can assist you. As one of the country’s largest 100% female-owned family law firms, we know how to navigate the tricky issues that come up during marriage and divorce.
Our attorneys are skilled negotiators and litigators who will fiercely advocate for your rights and interests. Send us an online message or call (256) 859-7277 today to schedule a no-obligation consultation.
