A prenuptial agreement is a divorce and family law document that determines the key legal and financial arrangements of a divorce before a wedding occurs. Having a prenup in place ensures an equitable distribution of assets should the marriage not work out. It offers significant peace of mind, helps both parties disclose all assets and interest before marriage, and results in less stress in the event of a divorce. Here are three crucial things to include in a prenup.

What to Include in a Prenuptial Agreement

1. Preexisting Assets & Debts

A spouse should understand the extent of both the assets and debts the other spouse is bringing into the marriage. This way, they can determine how these issues are to be handled once they are married. If one spouse has significant credit card debt, for example, will they alone be responsible for it after walking down the aisle? If one spouse owns a luxurious vacation home, will they alone retain ownership of it after the marriage, or will the new spouse become a co-owner? Ironing out these details beforehand keeps both spouses on the same page and roles and responsibilities clearly defined.

2. Assets & Debts Acquired During the Marriage

Georgia is an equitable distribution state when it comes to family law, but that doesn't necessarily mean that assets and debts will be split evenly. Have a say now in what could potentially happen in the future so both you and your spouse are prepared in the event things don't work out.

3. Children From Prior Relationships

According to family law, if you come into a marriage with children from a previous relationship, those children don't have the same legal rights to inheritance as the ones you have with a new spouse. So, you have to make special provisions for them in the prenup. Decide how much you want them to inherit, bearing in mind that you will also likely need to update or draft estate planning documents to further cement these arrangements.

As you embark on a new life as a married couple, take the time to put together a prenup and prevent possible problems further down the road. The attorneys at the Law Offices of Terrence J. Paulk, PC, are here to help. They have over three decades of experience representing the Ben Hill County, GA, region in family law, personal injury, and workers' compensation cases. Call (229) 423-8783 or visit them online to schedule a free initial consultation.