Definition of a Prenuptial Agreement
A prenuptial agreement is entered into before marriage. This agreement can set forth what will happen to your and your spouse's assets and income in the unfortunate event of divorce, separation or death. Most importantly, a prenuptial agreement can preserve the nature of property in the event the marriage ends. In other words, separate property can remain separate, instead of being subject to community property or equitable distribution laws.
Prenuptial agreements are gaining in popularity for a variety of reasons. One reason is that people today are focusing on their careers and delaying marriage. By the time they do marry, both partners have property and financial worth to protect. Prenuptial agreements make this easy to do. Prenuptial agreements are also common when one partner has children from a former marriage. Such an agreement makes sure a spouse's separate property goes to their own children.
The greatest problem in most divorces is deciding how to divide property and money. Many prenuptial agreements are entered into simply because couples do not want the courts to decide on asset distribution should the marriage end. A few minutes of upfront planning have the potential to save headaches and tremendous financial hardships in the long run.
Whatever the reason, LegalZoom can help you create a personalized prenuptial agreement. Simply answer a few questions online from the comfort of your home, and we will assemble the necessary documents for you.