What Documents Do I Need for a Prenup?

If you and your partner have decided to create a prenuptial agreement, that’s a fantastic step! Prenups are a practical tool for couples aiming to secure their future together. But what should you bring to your appointment? What documentation do you need to gather and prepare to ensure your prenup is as accurate and comprehensive as possible?

At Wright Family Law Group, we have assisted hundreds of couples, both young and old, in crafting personalized prenuptial agreements that reflect their unique situations. Here’s a guide to the essential documents you should bring when creating your prenup.

Essential Documents You Need to Bring

Identification and Financial Information

First, you’ll need to provide identification and financial information. This includes but is not limited to:

• Copies of your driver’s licenses or other government-issued IDs, such as passports
• Social Security numbers
• Bank statements for all accounts held individually or jointly
• Investment account statements
• Retirement account statements (such as 401(k) or IRA)
• Property deeds and mortgage documents

Having this information on hand is important so our attorneys can accurately assess each person’s assets and liabilities. This will help determine how the prenup should be structured in terms of division of assets and debts.

Pre-Marital Debts

Debts can be a sensitive topic, but it’s crucial to be upfront about any pre-marital debts you or your partner may have. This includes credit card debt, personal loans, car loans, student loans, etc. In some states, these pre-marital debts may automatically become joint liabilities after marriage. By addressing them in the prenup, you can avoid potential financial issues down the road.

Income Information

In addition to providing bank statements and investment account statements, it’s also important to disclose income information. This includes but is not limited to:

• Pay stubs from current employment
• Tax returns from the past few years
• Any additional sources of income (such as rental property, royalties, etc.)

This information is necessary to accurately determine each person’s financial contribution to the marriage and potential spousal support.

Inventory of Assets

Creating an inventory of assets is another crucial step in preparing for a prenup. This includes listing out all individual and joint assets such as real estate, vehicles, investments, retirement accounts, jewelry, etc. It may also be helpful to include estimated values for each asset.

Business Documents

If either party owns a business or is involved in a partnership or LLC, it’s important to bring any relevant business documents to your prenup appointment. This could include articles of incorporation, operating agreements, partnership agreements, etc. These documents may impact how the business is handled in the event of a divorce.

Estate Planning Documents

While not required for a prenuptial agreement, it’s highly recommended to review and update any existing estate planning documents during this process. This includes wills, trusts, and power of attorney documents. A prenup can also address how assets will be distributed in the event of death.

Other Things You’ll Want to Bring

Creating a prenup involves not just financial considerations but also discussions about personal values and expectations. To help facilitate these conversations and ensure that all critical topics are covered, consider bringing a list of:

Goals

When entering prenup discussions, it’s crucial to have a clear understanding of your financial goals. Consider what you want to achieve with the prenup. Are you aiming to protect specific assets, ensure financial security, or establish guidelines for future growth? Having well-defined goals will guide the conversation and help create a prenup that aligns with both partners’ aspirations.

Questions and Concerns

Prenup discussions can be complex, so it’s essential to address any questions or concerns upfront. Be prepared to discuss topics such as asset division, debt responsibility, and financial support. Open and honest communication is key to resolving uncertainties and reaching an agreement that respects both parties’ interests. Preparing a list of questions and concerns ensures that important issues are addressed thoroughly.

Why Preparation Is Important

By preparing and bringing all necessary documents to your prenup appointment, you can ensure that the process is smooth and efficient. It also allows our attorneys to thoroughly review and assess each person’s financial situation, leading to a more accurate and comprehensive prenup. Additionally, by discussing personal values and goals upfront, you can build a stronger foundation for your marriage built on trust and understanding.

At Wright Family Law Group, we understand the importance of creating a prenuptial agreement that reflects both parties’ wishes while protecting their interests. So don’t wait; gather your documents and contact us today to get started on creating a personalized prenup for you and your partner.