A Prenuptial Agreement is a marriage contract entered into before marriage. A Prenuptial Agreement is also known as an Antenuptial Agreement, Premarital Agreement, or simply a Prenup.
A Prenuptial Agreement is very flexible and can address a wide variety of topics and issues related to marriage. The most common topics of a Prenuptial Agreement are the division of property and debt, spousal support, and child custody and visitation provisions in the event of divorce or breakup of marriage.
It is not uncommon for Prenuptial Agreements to include property forfeiture provisions in the event of certain occurrences such as adultery, abuse or neglect.
A Prenuptial Agreement is a great financial planning tool for a new family because it can clearly define the division or sharing of assets, protect one another from debt, protect and provide for children from previous marriages or relationships, provide some estate tax protections, and also clarify responsibilities and expectations in the marriage.
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