Question By: A prenuptial agreement, commonly referred to as a "prenup," is a legally binding contract that outlines the financial and property rights of each spouse in the event of a divorce or separation. While the specifics may vary depending on individual circumstances and jurisdiction, a prenuptial agreement typically includes the following provisions:
Division of assets and debts: It defines how assets and debts acquired before and during the marriage will be distributed in the event of divorce, separation, or death.
Spousal support/alimony: It establishes whether either spouse will be entitled to spousal support in case of divorce or separation and outlines the terms and conditions of such support.
Estate planning: It may include provisions regarding inheritance rights and distribution of assets in case of the death of one spouse.
Business interests: It addresses the treatment of business assets, ownership, and control in the event of divorce or separation.
Debt responsibility: It determines how debts incurred before and during the marriage will be allocated between the spouses.
Financial responsibilities: It may include provisions regarding financial responsibilities during the marriage, such as payment of bills, savings, and investments.
It is important to note that prenuptial agreements cannot include provisions on child custody, child support, or any other matters that involve the well-being and best interests of children
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