The world is an uncertain place – and you may be understandably nervous that your marriage may not work out. That’s just a recognition that sometimes two people can love each other very much and still not be compatible long-term.
If you’re looking ahead, however, it may feel wrong to think that after 10, 15 or 20 years of marriage – or certain other events – that a document you create today would dictate the terms of your divorce. That’s where a “sunset clause” may be useful.
It puts a time limit on certain terms – or the entire prenup
A sunset clause designates a “triggering event” that causes either the entire prenup to expire or just certain clauses. For example, you and your spouse might agree that:
- If you have a child together and your spouse agrees to stay home with the baby, any clauses regarding the waiver of spousal support or an equal share of the marital estate are voided
- If your spouse agrees to contribute to your business financially or through unpaid labor, any clause that carves out your business as your sole property will be nullified
- As of your 15th wedding anniversary, the entire prenuptial agreement is considered void unless you both agree to renew it
Prenuptial agreements are commonplace these days, especially as people marry later and have more personal property and financial resources to protect in the event of a divorce – but prenups are never a “one-size-fits-all” kind of thing. That makes it worthwhile to have experienced legal guidance as you consider what clauses to include in yours.