What can be agreed to in a pre-nuptial agreement?
A: Prenuptial Agreements can deal with largely anything the parties want them to, within reason. The main aim is to agree the distribution of property and assets upon their separation, divorce or death. Parties often include terms with respect to:
I. Clarifying their Separate Property – which will never become part of the “matrimonial pot” to be divided between the parties on divorce or separation
II. How any property or assets obtained during the marriage itself will be held;
III. Day-to-day practical matters such as whether a car is jointly owned, or how a joint account would be run for general living expenses;
IV. What happens to property or other assets upon separation, divorce, or death;
V. Whether one party should provide maintenance – for a child and/or for the spouse;
VI. The agreement of making of a will, trust, or other arrangement to carry out the provisions of the agreement;
VII. The choice of law governing the construction of the agreement; and
VIII. Any other matter, including their personal rights and obligations.