How to expertly negotiate a prenup

How to expertly negotiate a prenup

There are a lot of negative connotations with prenups. People think you only get them when you don’t see the marriage lasting. While that is a reason, it isn’t the only one.

What is a prenup?

A prenup is a financial contract between you and your partner. In the contract are clauses about what happens in regards to money, and how it’ll be split, should you and your partner divorce.

Some reasons to get a prenup

A prenup is not a negative thing because it’s there to protect you and your partner. Some reasons to get one are

1. If you have kids from a previous marriage.
2. If you have your own business you can keep that separate from your personal assets.
3. If you do get divorced it’ll make it easy and peaceful because everything is already divided.
4. It forces you and your partner to deal with the financial situation you’re in before you get married.

Many couples don’t talk about money because it’s uncomfortable, and while that’s true, it doesn’t help either of you not to have these kinds of conversations.

What you should include in a prenup

You and your partner should prepare before sitting down and working on a prenup. You should both know what type of provisions you would like included. Figure out which items are a must for you and which ones you’re willing to negotiate on. Being prepared makes the process easier and helps you stay focused.
Some of the clauses that you should include in a prenup are

1. What happens with kids from a previous marriage.
2. If one or both of you have your own business you can institute a “gag clause” that forbids your partner from sharing or speaking about you and your personal life in a harmful way. The “gag-clause” is also called the “goodwill” clause, which essentially means that you and your partner don’t trash each other publicly.
3. One of the biggest and most important clauses included in a prenup nowadays is a social media clause. A social media clause forbids your partner from sharing embarrassing or compromising photos of you. Revenge porn, for example, is a serious thing.

If any of the clauses in a prenup are broken the violating partner has to pay compensation to the other.

Prenups can seem unromantic, but they’re important to your financial stability. That’s why it’s important to have one and to know what points are non-negotiable for you.

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