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My fiance wants to create a prenuptial agreement. What items should be set forth in this type of document so as to safeguard both of us?
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As a general rule, a well-written prenuptial agreement should set forth the following items:
(1) The party or parties who will own the marital home and secondary residences in case of divorce or death;
(2) Income, liabilities, assets and expectations of inheritances and gifts;
(3) The recipient of separate or jointly-owned property, such as an interest in retirement accounts, jewelry, family heirlooms, paintings, and real property;
(4) The status of trusts, inheritances, and gifts that either party benefits from or obtains either prior to or post-marriage;
(5) The recipient(s) of dividends, rentals, income, gains, and appreciation associated with premarital property;
(6) Party or parties who will pay debts accumulated prior to the marriage;
(7) The amount of alimony or if the law authorizes, a provision for a property settlement in lieu of spousal support or property settlement in the event of divorce or separation;
(8) Long-term care insurance, life insurance, disability, and/or health care coverage; and
(9) Death benefits.
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