What Does a Prenup Do?

A prenuptial agreement (“prenup” for short) is a written contract created by two people before they are married. Read on to learn more.

Here are some reasons that some people want a prenup.

• A marrying couple with children from prior marriages may use a prenup to spell out what will happen to their property when they die, so that they can pass on separate property to their children and still provide for each other, if necessary.
• Clarify financial rights. Couples with or without children, wealthy or not, may simply want to clarify their financial rights and responsibilities during marriage.
• Avoid arguments in case of divorce
• Get protection from debts. Prenups can also be used to protect spouses from each other’s debts, and they may address a multitude of other issues as well.

If You Don’t Make a Prenup

If you don’t make a prenuptial agreement, your state’s laws determine who owns the property that you acquire during your marriage, as well as what happens to that property at divorce or death. State law may even have a say in what happens to some of the property you owned before you were married.

Making a Valid Prenup

As prenuptial agreements become more common, the law is becoming friendlier toward them. 

As divorce and remarriage have become more prevalent, and with more equality between the sexes, courts and legislatures are increasingly willing to uphold premarital agreements.

However, because courts still look carefully at prenups, it is important that you negotiate and write up your agreement in a way that is clear, understandable, and legally sound.

Source: https://www.nolo.com/legal-encyclopedia/prenuptial-agreements-overview-29569.html