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Prenuptial Agreements: A Comprehensive Guide for All Couples

Learn everything you need to know about prenuptial agreements, how they protect your assets, and why they're valuable for couples with children, young couples, blended families, and those with significant assets.

Introduction

A prenuptial agreement (commonly called a 'prenup') is a legal contract created by two people before they marry that typically outlines how assets and debts will be divided in the event of divorce or death. While often associated with wealthy individuals protecting their fortunes, prenups serve many practical purposes for couples across various life situations. This document can help clarify financial rights and responsibilities, protect family businesses, shield one spouse from the other's debts, and establish clear guidelines for property division. Whether you're entering marriage with children from previous relationships, significant assets, or simply want clarity about your financial future together, understanding prenuptial agreements is an important step in building a secure foundation for your marriage.

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Key Things to Know

  1. 1

    Prenuptial agreements must be executed well before the wedding (at least 30 days is recommended) to avoid claims of coercion or duress.

  2. 2

    Both parties must provide complete and honest financial disclosure for the agreement to be valid.

  3. 3

    Each person should have their own independent legal counsel review the agreement before signing.

  4. 4

    Prenups cannot determine child custody or child support amounts, as these must be decided based on the best interests of the child at the time of divorce.

  5. 5

    The agreement should be reviewed and potentially updated after major life events such as the birth of children, significant inheritance, or substantial changes in financial circumstances.

  6. 6

    State laws vary regarding prenuptial agreements, so it's essential to work with an attorney familiar with the laws in your jurisdiction.

  7. 7

    A well-crafted prenup promotes financial transparency and communication, which can strengthen your relationship rather than undermine it.

  8. 8

    For blended families, a prenuptial agreement should work in conjunction with your estate plan to ensure children from previous relationships are protected.

Key decisions before you file

Before you file a Prenuptial Agreement in Nebraska, a few decisions shape the document: which option to choose and what each one means. The Prenuptial Agreement guide walks through them.

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Nebraska Requirements for Prenuptial Agreement

  • Uniform Premarital Agreement Act Compliance (Nebraska Revised Statute § 42-1001 to § 42-1011)

    The agreement must comply with Nebraska's adoption of the Uniform Premarital Agreement Act (UPAA), which governs the creation, content, and enforcement of prenuptial agreements in the state.

  • Voluntary Execution (Nebraska Revised Statute § 42-1006(1)(a))

    The agreement must be entered into voluntarily by both parties without duress, fraud, or undue influence to be enforceable under Nebraska law.

  • Full and Fair Disclosure (Nebraska Revised Statute § 42-1006(1)(b))

    Both parties must provide full and fair disclosure of their property and financial obligations before signing the agreement, or voluntarily waive such disclosure in writing.

  • Opportunity for Independent Legal Counsel (Nebraska Revised Statute § 42-1006(1)(c))

    Each party should have reasonable opportunity to consult with independent legal counsel before signing the agreement to ensure enforceability.

  • Written Instrument Requirement (Nebraska Revised Statute § 42-1004)

    The prenuptial agreement must be in writing and signed by both parties to be enforceable under Nebraska law.

  • Unconscionability Provisions (Nebraska Revised Statute § 42-1006(1)(c))

    The agreement must not be unconscionable when executed or when enforcement is sought, as this can be grounds for unenforceability under Nebraska law.

  • Child Support Limitations (Nebraska Revised Statute § 42-1004(2))

    Provisions affecting child support rights are unenforceable if they adversely affect a child's right to support, as Nebraska courts retain jurisdiction over child support matters.

  • Permissible Content (Nebraska Revised Statute § 42-1004(1))

    The agreement may address property rights, spousal support, inheritance rights, and other matters not in violation of public policy or criminal statutes.

  • Modification Requirements (Nebraska Revised Statute § 42-1005)

    Any modification to the prenuptial agreement must be in writing and signed by both parties to be enforceable.

  • Effective Date (Nebraska Revised Statute § 42-1005)

    The prenuptial agreement becomes effective upon marriage, not before, as specified by Nebraska law.

  • Statute of Frauds Compliance (Nebraska Revised Statute § 36-103)

    The agreement must comply with the Statute of Frauds, requiring written documentation for contracts related to marriage and property transfers.

  • Marital Property Definition (Nebraska Revised Statute § 42-365)

    Clear definitions of separate and marital property consistent with Nebraska's marital property laws must be included.

  • Spousal Support Provisions (Nebraska Revised Statute § 42-1006(2))

    Provisions regarding spousal support must not render a spouse eligible for public assistance at the time of separation or divorce.

  • Choice of Law Provisions (Nebraska Revised Statute § 25-415)

    If the agreement includes choice of law provisions, they must be reasonable and have a substantial relationship to the parties or transaction.

  • Federal Tax Considerations (26 U.S.C. § 1041)

    The agreement should address federal tax implications of property transfers and support payments in accordance with the Internal Revenue Code.

  • ERISA Compliance (29 U.S.C. § 1001 et seq.)

    Provisions affecting retirement benefits must comply with the Employee Retirement Income Security Act, which may require specific waivers and forms.

  • Estate Planning Integration (Nebraska Revised Statute § 30-2301 et seq.)

    The agreement should address how it integrates with estate planning documents and Nebraska inheritance laws.

  • Sunset Provisions (Nebraska Revised Statute § 42-1004)

    Any sunset provisions (clauses that expire after a certain time period) must be clearly defined and not contrary to Nebraska public policy.

  • Severability Clause (Nebraska Revised Statute § 42-1008)

    A clause stating that if any provision is found unenforceable, the remainder of the agreement shall continue in full force to the extent permitted by Nebraska law.

  • Bankruptcy Protection Provisions (11 U.S.C. § 541)

    Provisions addressing property characterization in bankruptcy proceedings must comply with federal bankruptcy law while respecting Nebraska's property definitions.

Frequently Asked Questions

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