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 ?
It is often prudent for CPAs to raise the possibility of a prenuptial agreement for a client's long-term protection.
Spouses are often afraid to question a prenuptial agreement because they do not want to be perceived as marrying for money.
(9) Ohio, for instance, falls at one end of the spectrum, statutorily abolishing postnuptial agreements as per se against public policy, while Utah takes the opposite position, treating postnuptial agreements no differently than prenuptial agreements.
The survey also revealed that 83% of solicitors questioned have seen a rise in the overall number of enquiries about prenuptial agreements in the last three years.
Prenuptial agreements have been acknowledged in the UK in 2010 after the Supreme Court formally stated that the agreements should take effect only if both parties wanted to enter into it freely and without any force, Riaz said, adding that "there must be full and frank disclosure of assets by both sides and agreements must be signed in good time after a cooling off period." Riaz said the court will look at both parties' age, maturity, previous relationships and marriages.
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.
Partner at O'Connor Bergin Solicitors David Bergin said: "Those entering a first marriage are unlikely to need a prenuptial agreement.
Author Wenona Napolitano hits all the wedding-planning marks, from prenuptial pampering to eco-friendly wedding apparel, jewelry and decorations (including informative shakedowns of the diamond and floral industries); from tree-free invitations (elephant-dung paper; e-vites) to compostable tableware and plantable favors.
And only 2% sign a prenuptial agreement, compared to 6% in London.
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.