A prenuptial agreement is a binding document that, among other things, outlines how assets will be handled should a marriage end in divorce.
The decision to create a prenup is entirely up to you and your partner. However, it is important to understand that there are a set of guidelines that you must follow when creating this document for it to be valid.
Thus, there are things you cannot include in your prenuptial agreement, such as the following:
Illegal or unfair terms
A prenuptial agreement cannot include anything that violates state and federal laws. For example, you cannot use a prenup to require your spouse to do anything illegal. You also can’t rely on a prenup that is grossly imbalanced or unconscionable, such as one that leaves a dependant spouse with nothing after a decade of marriage.
Personal marital duties
A couple that is contemplating marriage may consider including provisions in the prenup agreement that outlines what each spouse’s daily chores during the marriage will be, including who will cook, clean the house or mow the lawn. This is frowned on by the courts, and probably won’t be enforced.
Custody arrangements
Matters concerning child custody and child visitation arrangements cannot be decided in a prenup. Custody and visitation are always determined by what’s in the best interests of the children – and that’s not something parents can agree on before a child is even born.
A prenuptial agreement allows a couple to protect personal assets while ensuring that marital property is fairly distributed should the marriage come to an end. With that in mind, it’s wisest to focus your prenup around a fair financial agreement.