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By considering potential life changes and working with a modern platform like First, couples can create a prenup that addresses their evolving needs and priorities.
When considering marriage, many couples also consider creating a prenuptial agreement, commonly known as a prenup. A prenup outlines the financial rights and responsibilities of each spouse in the event of a divorce or separation.
While nobody plans for divorce, life is unpredictable. Circumstances may change after signing a prenup. What if you decide to take a career break, have children, or pursue a different job? These are valid concerns that require careful consideration. In this blog post, we'll explore these considerations and how First can help you address them efficiently and effectively.
ANTICIPATING LIFE CHANGES
Life changes are inevitable, and it's essential to consider potential scenarios when drafting a prenup. Here are common considerations that our customers take into account when creating their prenup with First
Career Changes: Career paths certainly evolve over time. Whether one spouse decides to take a career break, shift from full-time work at the office to full-time work at home with children, pause to pursue further education, or switch professions entirely, it is crucial to address how these changes may impact financial dynamics within the marriage.
Children: The decision to have children can significantly alter priorities and financial responsibilities. Couples may want to include provisions to account for majo rcareer changes and decisions in their prenup to ensure clarity and protection for both parties. Financial advisor and author Kimberlee Davis advises couples to “get prenuptial agreements that outline what one spouse is entitled to financially if they give up their career to be the family caretaker.”
Relocation: Relocation for career opportunities or personal reasons could be something you consider at some point during your life after marriage. Addressing how assets and financial obligations will be managed in the event of a move can prevent disputes and uncertainty down the road.
Inheritance and Family Assets: Inheritances and family assets are valuable considerations in a prenup. During the First prenup process, we ask both partners if they expect an inheritance in the future. Individuals may wish to protect assets that they inherit in the future, or ensure that family businesses remain separate property in the event of a divorce.
Flexibility and Amendments: Life is fluid, and circumstances may change over time. One of the benefits of working with First is that we include questions in our prenup creation flow that give you the ability to decide on what terms and when you would like the ability to renegotiate your prenup. For example, think you might want to take another look at your prenup once you’ve been married for 10 years? You can include that in your First prenup. Anticipate that you may leave the workforce once you have children and want to indicate you would like to revisit the prenup at that time? Include it! First allows for you to decide what works best for you, ensuring that your prenup remains relevant and effective throughout your marriage.
WHY CHOOSE FIRST?
First offers a modern, streamlined approach to creating prenuptial agreements. Here’s why you should #DoThisFirst:
Efficiency: Our online platform simplifies the prenup process, eliminating the need for multiple in-person meetings and extensive paperwork. You can complete the entire process from the comfort of your home, saving time and reducing stress.No PDFs, no hourly rates, no lawyering up, no surprises.
Expert Guidance: While our process is entirely online, you'll have access to experienced legal professionals who can provide guidance and support once your prenup is drafted.Whether you have questions about specific clauses or need assistance with negotiations, our team is here to help.
Flexibility: Life is unpredictable, and your prenup should be adaptable. With First, you can input the important information that matters most to you in your prenup and review it with a First lawyer at the end of the process.
FREQUENTLY ASKED QUESTIONS
Q: Can I make changes to my prenup after it's been signed? A: With First, you can indicate at what milestone it makes sense for you and your partner to be able to review and renegotiate your agreement.
Q: How long does it take to create a prenup with First? A: The timeline varies depending on individual circumstances, but our online platform typically makes the process faster and more efficient compared to traditional methods. With First, you can get your draft in a day and can complete the entire process in a matter of weeks, depending on how quickly you and your partner complete the necessary steps outlined in our platform.
Q: How do i get started? A: Get started building your prenup today at https://app.thisfirst.com/signup
