You might feel offended or intimidated by your fiance proposing a prenuptial agreement. Or, if you’re the one asking, you might be worried about how your fiance will react.
But a prenup can be an important tool to protect your future and enter your marriage with peace of mind. So before you reject the idea, consider thinking through what to put in a prenup and assessing whether having one might be to your advantage.
Specifically, what should a woman ask for in a prenup? The provisions that will benefit you depend on your circumstances, but the following may help you brainstorm contract terms that may protect you in a divorce.
What does a prenup do?
Prenuptial agreements set rules for how a couple will handle their property and finances if they divorce. This could save you a lot of stress and time in the courtroom if your marriage comes to an end.
Prenups can cover:
- Whether anyone has a right to spousal support, including the amount and duration
- How marital and separate property will be distributed if the marriage ends in a divorce or separation
- How marital and separate debts will be handled if the marriage ends in a divorce or separation
- How property and debts will be handled if a spouse dies
- Each spouse’s right to insurance benefits
- Each spouse’s obligation or right to make a will or trust regarding assets covered by the agreement
What should a woman ask for in a prenup?
The things to include in a prenup should be specific to your circumstances. That said, the following are common terms women consider asking for in a prenuptial agreement.
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1. Housing arrangements
An immediate concern that may arise if a couple separates is where each person will live. And if your spouse is the primary breadwinner, finding resources to pay for a new residence may be difficult. A prenuptial agreement may eliminate some of these worries by including any of the following terms:
- A requirement that your spouse allow you to keep the marital home while they search for new housing
- A requirement that your spouse sign paperwork to put the marital home in your name and cooperate with your lender regarding refinancing on a loan
- A requirement that your spouse pay your housing expenses for a new residence
- A requirement that your spouse cooperate with the sale of the marital residence and pay you a particular share of the proceeds
- An agreement regarding how long either of you is allowed to stay in the marital home while searching for a new residence
2. Spousal support
Alimony or spousal support is meant to help a spouse rebuild, transition or maintain their lifestyle after they divorce. These payments may be temporary or permanent, and they depend on the financial circumstances of both spouses. When a court calculates how much support a spouse will receive, it might consider the following factors:
- How much money each spouse earns
- How long the marriage lasted
- The professional and educational history of each spouse
- How each spouse contributed to the marriage
- What kind of financial resources each spouse has
- The standard of living the spouses enjoyed during the marriage
You can take the guesswork out of what kind of spousal support you’ll receive by writing your own support terms into a prenuptial agreement. You might also want to include spousal support in your prenup because not all states give a divorcing spouse an automatic right to spousal support.
3. Business proceeds
Whether you care for the home and children or work a traditional job, your efforts may contribute to your spouse’s ability to start or run their own business. A court could decide that these efforts are worth alimony payments. But sometimes, making an agreement that your spouse will pay you business proceeds for your contributions is better than alimony or spousal support.
If your spouse agrees to assign you business shares, an interest in their business or business proceeds, you could receive payments for a lifetime. Those payments could increase as your spouse’s business becomes more profitable.
4. Gifts
Divorce courts in several states identify inheritances or gifts as separate property and allow divorcing spouses to keep those assets after their marriage ends. However, if one spouse commingles their inheritance or gifts with marital property, those assets might become marital property that’s subject to division.
For instance, an individual who receives shares of a profitable business as a gift from their parents and then deposits the dividends in a joint account risks losing those proceeds in a divorce.
You may avoid this outcome by writing provisions in a prenup stating that any inheritance or gifts remain your separate property no matter how you commingle it.
5. Money for schooling
If you’ve agreed to be a stay-at-home spouse in your marriage, you run the risk of losing years of valuable job experience. But there’s no reason why a divorce should leave you with limited job prospects. In a prenup, you may negotiate for your spouse to pay for schooling to help you become a competitive candidate in the labor market. If you’re a stay-at-home getting divorced, here’s what you need to know.
6. Money for professional development
Sometimes spouses take turns fulfilling their professional needs during a marriage. Maybe you decide to pull back from your career so that your spouse can take on a demanding job. Or perhaps you postpone a new business venture to support your spouse while they go back to school. If you divorce before it’s your turn to focus on your career, a prenup may ensure that you get your time and effort back. In a prenup, you may require your spouse to provide the capital for your startup or funds to help you re-enter the workforce.
7. Health insurance
In 2021, healthcare cost couples almost $13,000 per person. If you’re on your spouse’s health insurance plan and lose coverage in a divorce, forking out $13,000 a year on your own may be tough. Asking for help with health insurance payments in a prenup may be a helpful and possibly life-saving request.
8. Settlement regarding business ownership
Whether you start a business before or during your marriage, with or without your spouse, a divorce can lead to conflict in determining who has the right to run your company or receive profits from it. This conflict may be worse if you have a business partner who’s not your spouse.
These legal issues may be avoided if you and your spouse make arrangements in a prenup that outline how you’ll handle business management, distribution of profits and winding up a closing business.
9. Transportation
Having reliable transportation might be essential for your success as a job candidate or for fulfilling your parental obligations after a breakup. And if you don’t work while you’re married or pay bills during your marriage to develop a strong credit score, getting a car after your divorce could be difficult.
A solution to this problem is to ask your spouse to cover your transportation needs in the event of a split. Your spouse can cover you in many ways, including agreeing to do any of the following:
- Transfer one of their car titles to you
- Purchase you a car
- Provide the down payment for your auto loan
- Co-sign on your auto loan
- Assist with your car payments
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10. Retirement benefits
Divorce courts divvy up retirement benefits through qualified domestic relations orders (QDROs), but predicting what benefits you’ll receive in a divorce decree isn’t always easy. Negotiating the sharing of retirement funds in a prenuptial agreement may give you more control over the outcome of a potential divorce and help you prepare for the future in a way that suits you best.
What is a fair prenup?
In order to be enforceable, typically a prenup needs to be fair. Often, this boils down to how transparent each spouse is about their assets and how reasonable the prenup negotiations are. For instance, in Texas, prenups are invalid unless you meet certain conditions. These conditions include:
- The signing of the agreement was voluntary
- Each spouse disclosed all their assets and liabilities
The requirements for a fair agreement differ by state, so reviewing your state’s prenuptial agreement laws may be helpful before you start drafting terms.
How an attorney may help
Many marrying couples find attorney advice helpful when they’re considering a prenuptial agreement. An attorney knowledgeable about prenups may help you determine which contract terms will help you the most and identify all the disclosures you need to make to ensure that your agreement is reasonable and enforceable.
