What is a Prenuptial Agreement?
A Prenuptial Agreement is an agreement between an engaged couple that is made in contemplation of their marriage. It is effective upon marriage. The contents of a Prenuptial Agreement vary, and among other thing, they provide for rights and responsibilities with respect to support and division of property at the time of death, separation, or divorce.
In most states, the fair and complete disclosure of asset ownership is required before a Prenuptial Agreement can be enforced. Another important factor is that there cannot be duress in the execution of a Prenuptial Agreement. This means that the agreement should be negotiated by each of the soon to be married parties and neither should be required to sing it in a rush. They should have time to contemplate the meaning and the terms of the agreement, and even though an attorney's representation is not required for it to be enforced, it is strongly suggested.
History of Prenuptial Agreements
Eight Reasons to Say "I DO" to a Pre-Nup
1. You are much wealthier then your partner
2. You earn much more then your partner
3. You are remarrying
4. Your partner has a high debt load
5. You own part of a business
6. To prevent your spouse from overturning your estate plan
7. You are much poorer then your partner
8. If you plan to quit your job to raise children
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