Prenuptial Agreements

A Prenuptial Agreement is a legal contract between two people entered into before they get married.

People often hear about celebrity prenups, but they are not just for the rich and famous.

Reasons for preparing a prenup might include:

  •  Pass separate property to children from prior marriagesPrenuptual Agreement 1
  • Clarify financial rights
  • Avoid arguments in case of divorce by defining who gets what
  • Get protection from debts
  • Keep property in the family
  • Clarify responsibilities during the marriage except for relating to non-financial matters and certain other restricted areas

Courts look carefully at prenups so it is important prepare your agreement so that it is clear and legally binding.

Finally, make sure you also have an Estate Plan. Even if you use your prenup to determine inheritance rights and state your intentions for passing on your property at death, it is essential to prepare the proper estate planning documents such as a WillLiving Trust, and Power of Attorney and more that will actually transfer your property to your desired beneficiaries.

 

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