Prenup Agreement

A prenup, short for prenuptial agreement, is a legal contract between two people entering into a marriage. It outlines how things like finances and assets will be handled in the event of a divorce or death.

Here's a breakdown of some key points about prenups:

• Purpose:

  • To specify how property, debt, and spousal support will be divided in case of divorce.

  • Can also address inheritance rights and lifestyle issues in some cases.

• Benefits:

  • Provides clarity and avoids relying on state laws during a potentially emotional divorce.

  • Can protect assets brought into the marriage by each person.

• Things to consider:

  • Both parties should have independent legal counsel when creating a prenup.

  • Prenups should be fair and conscionable.

  • Not all provisions in a prenup may be enforceable by law.

While prenups are sometimes portrayed negatively, they can be a valuable tool for couples planning a marriage. If you're considering a prenup, it's wise to consult with an attorney to discuss your specific situation.