Prenuptial Agreement Share
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What is in a prenuptial agreement?
A prenuptial agreement ("prenup" for short) is a written contract created by two people before they are married. A prenup typically lists all of the property each person owns (as well as any debts) and specifies what each person's property rights will be after the marriage.
What is the purpose of a prenup?
It may also be called a premarital agreement, an antenuptial agreement, a marriage contract or a prenup for short. Its purpose is to settle financial matters in advance in the event of either a divorce or death. While a prenuptial agreement may seem unromantic, some experts say it's just smart financial planning.
Why you should get a prenup?
For starters, a prenup (officially known as a prenuptial agreement) is a legal document that couples get before they get married that determines the division of property in case the marriage ends in divorce. It also protects one spouse from another's debts.
What is a prenuptial agreement in marriage?
A prenuptial agreement is entered into before marriage. This agreement can set forth what will happen to your and your spouse's assets and income in the unfortunate event of divorce, separation or death. Most importantly, a prenuptial agreement can preserve the nature of property in the event the marriage ends.
Are prenups necessary?
A prenuptial agreement is a contract mutually agreed upon by the two people getting married. ... While it may not sound romantic, a prenuptial agreement is necessary to provide protection. Even when you're young, have debt, and no property, a prenup is still a good idea.
What does a prenup protect you from?
A prenuptial agreement, where properly negotiated, can protect: Retirement or education funds that either party may have accumulated before marriage. Division of property that either party owns at time of marriage. ... Against obligation to pay the other party's debts.
What should be included in a prenuptial agreement?
Items to Include A valid prenuptial agreement specifies what will, and will not, be considered marital property, protecting each parties personal assets. Saving and Spending Strategies A prenuptial agreement should address the couple's future financial plans, including investment and retirement strategies.
What is usually included in a prenup?
A prenup typically lists all of the property each person owns (as well as any debts) and specifies what each person's property rights will be after the marriage. In some states, a prenuptial agreement is known as an "antenuptial agreement," or in more modern terms, a "premarital agreement."
What can and Cannot be included in a prenuptial agreement?
A prenup cannot include child support or child custody issues. ... A court would never uphold a provision of a prenuptial agreement that dealt with child support, child custody, or visitation, because these are issues of public policy.
Do prenups hold up?
Unfortunately, prenups don't hold up in divorce court 100 percent of the time. Judges can and have thrown them out when certain aspects are in flagrant violation of the law or public policy. If you changed your mind about your agreement after you signed it, you might have voided it as well.
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