She has been writing music about her Love Story for 20 years so with the news of Taylor Swift and Travis Kelce’s engagement, many people are wondering about the ring, the wedding venue, the guest list, the wedding gown, and, of course, the playlist! At RKW, we are wondering about the prenup!

Perhaps you have seen the internet content floating around (rumors, of course) that both Taylor and Travis retained lawyers and resolved the issues of a premarital agreement before they even officially became engaged. If that is true, from a family lawyer, they certainly are off to a great start as partners, discussing their issues, getting advice, and reaching an agreement in advance, all without the pressure of a wedding date looming.

Many people think a prenuptial agreement is how to end the marriage before it even begins, but it is so much more.

<span style="text-decoration: underline; margin-bottom: 10px">What does a Premarital Agreement Deal With?<span>

Premarital Agreements or “Prenups” generally deal with two subject areas: (1) If the couple were to divorce; and (2) if one member of the couple dies. The distribution of property, potential alimony claims, inheritance rights, are all covered by a Premarital Agreement. A couple can also put in a Premarital Agreement how they wish to order their financial lives during the marriage. They might consider: Will they have a joint account?  How will they pay household expenses?  Will the financially wealthier member of the couple put aside any funds or property for the other spouse to have as his or her separate property?  All of these questions can be addressed in a Premarital Agreement.

In considering a Premarital Agreement with your soon-to-be spouse, there are several factors everyone should consider:

<span style="text-decoration: underline;">Timing.</span>

First, in terms of timing, start early. Premarital Agreements are contracts and there is a “back and forth” that will happen before finalizing a full agreement. You need to consult with a lawyer to learn your basic rights under state law. You also need time to discuss the issues with your partner. It will take time, discussion, and you should not have the pressure or duress of a wedding date looming. Ideally, you should discuss and agree on the terms of a Premarital Agreement before the invitations go out and before any deposits are put down. A Premarital Agreement is not enforceable if it has been obtained by fraud, duress, or coercion. To avoid a coercive atmosphere or duress, start discussing months before any potential wedding date.

<span style="text-decoration: underline;">Who needs a Premarital Agreement?<span>

Premarital agreements are often associated with celebrities who want to avoid a public divorce, but anyone who is planning a marriage can get one – billionaire status from a record-breaking tour or multiple Super Bowl rings are not required. Premarital Agreements are particularly helpful for anyone with substantial wealth prior to marriage, and also  for people who have children from a prior relationship whose inheritance rights the parent wishes to secure (consider a blended family in a second marriage, for example). It could also be useful to someone who has been through a difficult divorce before and wants to make sure various things are not potential legal disputes in case the worst happens. One of the main property-related reasons for considering a Premarital Agreement is if you have property that is likely to contain a mixture of pre-marital and post-marriage investment of money or effort, particularly with respect to real estate or a business, where you cannot so easily prevent that mixture from happening. Different states treat such mixed property differently, and a Premarital Agreement is a very good way to deal with what happens to a business interest or a piece of real property without the uncertainty of state law and burdens of proof, and without the need for lawyers and forensic accountants to determine it.

<span style="text-decoration: underline; ">Isn’t it Divorce Planning to Pursue a Prenup?</span>

Many people are concerned that discussing what they would want to happen in case of divorce or death will, by itself, bring these negative events upon them. Instead, we see a Premarital Agreement as an opportunity to discuss and make sure you and your spouse-to-be are on the same page about important questions like the following:

• What financial contributions do you think we should expect of each other?
• Do we plan to have children or more children?
• What non-financial contributions should we expect of each other, particularly with regard to raising children or taking care of the home?
• What are our plans for retirement?  How are we going to be able to afford what we want that picture to look like?
• Do either of us have businesses that we want to make sure remain ours in the event of a divorce?

<span style="text-decoration: underline; ">Family Considerations.</span>

Premarital Agreements are also something that parents or grandparents of the engaged couple may suggest, request, or insist upon, in order to protect family wealth. How much your family of origin will influence your Premarital Agreement varies from person to person.

<span style="text-decoration: underline; ">A Lawyer’s Plea.</span>

We highly recommend that you consult with a lawyer early, preferably before a wedding date is set. While people often come with a list of terms the couple has agreed to, once a lawyer starts asking questions or seeks clarification, it can add further points that the couple needs to discuss and consider. Please follow Taylor and Travis’ example, and have those discussions before you hard launch your swoon-worthy engagement photos!