Premarital Agreements (Prenuptual Agreements)

Premarital agreements are to be executed by prospective clients in contemplation of marriage, to be effective upon marriage.  A premarital agreement usually contains a list of all assets and debts owed by each partner and will specify what each person’s property rights are after the marriage. 

Contrary to popular beliefs, premarital agreements are not just for the rich and wealthy.  Couples, wealthy or not, may want to clarify their rights and responsibilities during the marriage.  For example, a couple may want to avoid potential arguments in the event of divorce or legal separation by specifying in advance how their assets or financial obligations will be divided.  Further, premarital agreements can be used to protect each spouse from the other’s debts. 

In the absence of a premarital agreement, a spouse usually has the right to share ownership of property acquired during marriage, with the expectation that the property will be divided between the spouses in the event of a divorce or separation.  Further, the spouse may incur the debts of the other during the marriage.