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.
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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.
Wall Street Words: An A to Z Guide to Investment Terms for Today's Investor by David L. Scott. Copyright © 2003 by Houghton Mifflin Company. Published by Houghton Mifflin Company. All rights reserved. All rights reserved.
References in periodicals archive ?
Advisors should familiarize themselves with the requirements that a prenuptial agreement must meet in order for the courts to enforce its provisions.
There are also a number of available variations, including one designed specifically for the community property marriage provisions of the State of California, as well as a so-called "reciprocal version." Another available version can be inserted into general prenuptial agreements. The agreement is valid under both United States law and Jewish law.
Can a person really afford not to draw up a prenuptial agreement in the protection of their hard earned wealth?
is a waiver of all rights to the elective share...." Wife argued that the prenuptial agreement did not specifically state that she waived her right to an elective share.
Prenuptial agreements or premarital agreements have become common practice as a legal tool to regulate how assets between future spouses should be divided in the event of divorce.
"I don't think members of the royal family sign prenuptial agreements. It's commonplace with celebrity marriage, but this is not a celebrity marriage, it's a royal marriage," she told (https://www.townandcountrymag.com/society/tradition/a22775404/princess-eugenie-jack-brooksbank-prenuptial-agreement/) Town & Country.
A prenuptial agreement will also provide the financially weaker party with certainty as to the provision to be made for them should the marriage fail.
A prenuptial agreement is a formal written agreement both parties enter into ahead of the marriage, which details ownership of any property, assets and finances and outlines how they will be divided in the event of a divorce.
A prenuptial agreement setting out precisely what assets had been invested into the relationship prior to marriage and how they would be dealt with on divorce would have ensured that much of the time and expense taken up with the court cases could have been saved.
To be effective, a prenuptial agreement must be enforceable under the laws of the relevant state.
Consequently, individuals may decide to minimize the chances of an acrimonious and contentious divorce by entering into a prenuptial agreement, which provides important protections for traditional clients of CPAs.
Pacheco, in the petition, also said she seeks return of her stolen passport, birth certificate and Social Security card, as well as invalidation of their prenuptial agreement based on fraud.