A Prenuptial Agreement is a written agreement entered into by parties contemplating a marriage. A Prenuptial Agreement sets forth each party’s assets and liabilities so that a full disclosure is made to the other party. The agreement then provides the manner in which the parties are going to hold their property in the event of their marriage and divide their property in the event of a death or divorce. The parties may elect not to hold all property acquired during the term of their marriage as community property. Each party may waive certain interests in the other’s property that he or she would otherwise acquire upon entering into a marital union, including rights of inheritance and spousal maintenance. Prenuptial Agreements are becoming more popular, especially in situations of subsequent marriages where one or more of the parties has children from a prior union or where one of the parties holds substantially more property that the other and wishes to protect it in the event of a death or divorce.
* The information contained in this message is general and should not substitute for the advice and counsel of a licensed attorney.