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Commonly Asked Questions about Financial Statements for Prenuptial Agreements

Primarily, the focus will be on detailing your assets and liabilities. This can include anything from student loan debt to retirement accounts, heirloom jewelry to birthday presents. Your prenuptial agreement should create the fullest degree of financial transparency possible between you and your partner.
Here are some of the things you may need to gather prior to getting a Prenup: Income (tax returns, pay stubs) Debt (mortgage statements, car loans, medical debt bills, student loan statements, etc.) Accounts (bank account statements, retirement plan statements, investment account statements, etc.)
This process is known as financial disclosure. This means you both need to disclose EVERYTHING, not just some of it. Assets, debt, and future inheritances. If you leave anything out of your financial disclosures, you put your Prenup at risk of being thrown out.
Establishing Your Prenuptial Agreement With Full Disclosure Your disclosure schedule should list all assets of both parties. It should outline the value of your assets and any outstanding debts and liabilities. Youll need to include information related to any income sources and their amounts. Why You Need Full Disclosure in Your Prenuptial Agreement Kupferman Golden Family Law why-you-need-full-disclosure- Kupferman Golden Family Law why-you-need-full-disclosure-
Proof of assets A completed financial affidavit. A recent copy of bank account statements. A recent copy of any investment account statements. Documentation related to any businesses owned in whole or in part by either party, including estimated values. A copy of all real estate deeds. What Information Will my Attorney Need to Draft a Prenup Jacobs Berger what-information-will-my-at Jacobs Berger what-information-will-my-at
For example, if you want to protect the future appreciation of assets, the prenup itself may say something along the lines of, The appreciation in value of all separate property accumulated during the marriage shall remain the separate property of Spouse A. (Of course this is not necessarily the EXACT language you
Failure to follow premarital agreement procedures could also be considered a loophole. For example, if your prenup stipulates that you keep your family home, but you continue to make payments on the house from a joint checking account, your spouse may be entitled to a marital claim on the property.
When it comes to a prenuptial agreement, both fiancs must disclose all of their assets and debts. This is done in the form of a financial schedule, which is a snapshot of all of your income, assets, debt, and future inheritance. Financial Disclosure - HelloPrenup HelloPrenup financial-disclosure HelloPrenup financial-disclosure
The bottom line is that cheating does not void a prenup. However, it may have an impact on negotiations, especially if an infidelity clause is involved. Be warned though, the validity and enforceability of infidelity clauses varies from state to state.
Making a prenup valid The agreement must be written, not oral. The agreement must be entered into and signed voluntarily. Both parties need to fully disclose their assets before signing the agreement. The agreement must be fair to both sides. What You Need to Know About Prenuptial Agreements - Nationwide nationwide.com prenuptial-agreement-basics nationwide.com prenuptial-agreement-basics