Pre-nuptial agreements

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Updated: 4/16/2007 2:29 pm
A pre-nuptial agreement is a legal contract that is created and signed before a couple gets married. It is mainly designed to prevent any problems or disputes over assets that could occur in the future. Such agreements usually involve protecting future inheritances and previously arranged financial matters. Sometimes pre-nuptial agreements are used to specify custody orders and division of property rights in the event of a divorce. Usually the people that require a pre-nuptial agreement are those who have been previously married and have accumulated assets or those who are waiting for a large inheritance. Couples who marry young and have not accumulated assets generally do not need a pre-nuptial agreement. In addition, the state in which the couple marries or lives has state laws that will establish contractual regulations on how property will be divided in the event of a death or divorce. A pre-nuptial agreement may be especially important for those people who have accumulated substantial assets prior to marrying. Be sure to speak openly and honestly with your partner and give serious consideration to the agreement. For more information about pre-nuptial agreements, contact a lawyer or a financial adviser.
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