A prenuptial agreement, antenuptial agreement, or premarital agreement, commonly abbreviated to “prenup,” is a contract entered into prior to marriage. The content of a prenuptial agreement can vary widely, but often contains provisions for property division and spousal support in the event of divorce. A postnuptial agreement is similar to a prenuptial agreement, but is created after the wedding. Both prenuptial and postnuptial agreements are on the rise.
Although it may seem “unromantic” or too “transactional” – in the end, a marriage is a form of a contract and carries with it certain legal protections and responsibilities. Although prenuptials are still more common in second marriages, anyone who owns a business or has significant assets or income, or alternatively, anyone who has significant debt, should consider the benefits of a prenuptial agreement.
Many couples struggle with the financial aspect of their marriages. A prenuptial agreement can be a common sense, practical way of “putting your cards on the table” prior to walking down the aisle. An honest and open discussion about each party’s expectations about money before getting married can be a strong start to a healthy and long-term relationship. We can assist you in planning for your future.