prenuptial agreement

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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 ?
Before entering into a prenuptial or postnuptial agreement, it's important to consult with a financial advisor and family or estate planning attorney to determine the best course of action.
This seems a clear indication that the courts will up-hold Prenuptial agreements, although of course each case is dealt with on its own particular facts.
Spouses are often afraid to question a prenuptial agreement because they do not want to be perceived as marrying for money.
Tamara Smith, of Contact Law, comments: “Although it's traditionally expected that men are the instigators of a prenuptial agreements, our survey shows that women are becoming increasingly aware of the necessity to protect themselves as best they can.
When asked what advice he would give to young Britons going in for prenuptials, Mohammad Riaz, Senior Solicitor, Consultant and Practice Manager at Musthafa and Almana law firm, said: "It depends on the assets they have accumulated.
Our only cautionary note is that there is some concern that legally binding prenuptial agreements could lead to one partner benefiting and another being left penniless.
I'm sure it's often the case that the person being asked to sign the prenuptial agreement (usually the person in a worse financial position than their partner) can be made to feel like their partner doesn't trust them or that, by mentioning a prenuptial agreement, their partner is implying that they are only marrying for money.
In Bulgaria, prenuptial agreements are signed most often in cases when the husband is wealthy and older, the notaries public say.
Unlike in the United States, where prenuptial deals have long been recognised, these agreements are not yet enforceable in Ireland but they are taken into account by the courts.
There is often a view expressed that a prenuptial agreement is only applicable to the rich and famous.
While asking your sweetie to sign a prenuptial agreement before the wedding isn't a very romantic notion, such an agreement can be a critical tool in asset protection--and it's one that every business owner should consider.
Part I discusses prenuptial and postnuptial agreements in the context of relationship dissolution planning.