prenuptial agreement

(redirected from Prenup)
Also found in: Dictionary, Legal, Wikipedia.

Prenuptial Agreement

A legal and binding agreement that a couple enters prior to their marriage. Prenuptial agreements are commonly associated with the division of assets in the event of a divorce later in life, but they may also include other details such as how assets are distributed in the event of the death of a spouse. Prenuptial agreements are somewhat controversial as some see them as providing an expectation of divorce; they are designed, however, to reduce financial uncertainty in a marriage.

prenuptial agreement

A written agreement by a couple who plan to marry in which financial matters, including rights following divorce or the death of one spouse, are detailed.
References in periodicals archive ?
For example, for two people who enter a first marriage after they've both had careers and built up significant assets, a prenup can preserve those assets if the marriage doesn't work.
Alimony or spousal support does have tax implications, as alimony is taxable to the recipient as ordinary income--which much be considered both when drafting a prenup or, during divorce settlement discussions, absent such an agreement," he explained.
But a legal source in LA said: "George's first divorce papers show he didn't have a prenup.
The Law Commission, a statutory independent body that advises on law reform, recently called for prenups to be legally binding in divorce settlements.
Sophie Williams, of South Wales law firm Watkins and Gunn said that prenup agreements were becoming more common, particularly among people with existing assets who are marrying for a second time.
Couples who have built up assets earmarked for specific objectives, like college tuition funding, can make sure those goals are safeguarded via a prenup.
It has all the standard prenup stuff like a "cheating clause" and a "drug clause," but they also have a "plastic surgery clause" and a "Kris Jenner clause?
For example, in "The Prenup and the Porsche," she explains how her family went to a race car museum for Father's Day.
When the arguably hasty Haifa married next lucrative conquest Ahmad, he presented her with a USD 20 million dowry and - in a converse prenup - a promised USD 40 million should divorce come down the line.
Although in the majority of cases it is still the groom who is the main instigator of the prenup, more than one in five (21%) prenuptial requests or enquiries are now at the behest of the bride-to-be.
But when push came to prenup, 29-year-old Toni got cold feet and welcomed her hubby back into the family fold.
A prenup normally details how financial matters must be dealt with in the event of divorce.