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What is a Prenuptial Agreement?
A Prenuptial Agreement is an agreement between an engaged couple that is made in contemplation of their marriage. It is effective upon marriage. The contents of a Prenuptial Agreement vary, and among other thing, they provide for rights and responsibilities with respect to support and division of property at the time of death, separation, or divorce.
In most states, the fair and complete disclosure of asset ownership is required before a Prenuptial Agreement can be enforced. Another important factor is that there cannot be duress in the execution of a Prenuptial Agreement. This means that the agreement should be negotiated by each of the soon to be married parties and neither should be required to sing it in a rush. They should have time to contemplate the meaning and the terms of the agreement, and even though an attorney's representation is not required for it to be enforced, it is strongly suggested.
History of Prenuptial Agreements
People have been making Prenuptial Agreements for thousands of years.
In the Middle East, after Mohammed's death, his great-granddaughter, Sukayna, who had been married several times, once stipulated in writing that her husband was forbidden to disagree with her about anything.
The Hebrew marriage contract, called the "Ketubah," is at least 2, 000 years old. This intended to protect women incase of divorce or death of their husband by setting out the husbands financial obligation to the wife.
Dowries, often considered early Prenuptial Agreements, were mentioned in writings in the 7th Century and they were considered a necessity at that time.
Eight Reasons to Say "I DO" to a Pre-Nup
1. You are much wealthier then your partner
2. You earn much more then your partner
3. You are remarrying
4. Your partner has a high debt load
5. You own part of a business
6. To prevent your spouse from overturning your estate plan
7. You are much poorer then your partner
8. If you plan to quit your job to raise children
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