What to Know About Prenuptial Agreements Before Marriage
While it may not be romantic to talk about a prenuptial agreement before getting married, the conversation is, in fact, one of the most practical and responsible you will have as a couple. A prenuptial agreement, also known as a “prenup,” is a legal contract made between two individuals before they are married that details how assets, debts and financial matters would be distributed if the couple should divorce or in the event of one partner’s death. Rather than a sign of mistrust, a well-considered prenup invites transparency and ensures mutual protection, while also bringing clarity to expectations in the days ahead. What Is a Prenuptial Agreement? A prenuptial agreement is an official contract that both parties agree to before getting married. It defines financial obligations and rights of spouses during marriage and upon separation or divorce. Some of the usual discussions that transpire during prenups are: Division of assets and property Treatment of pre-marital wealth Manag...