A premarital agreement is a written contract between two people entered into before marriage.
The premarital agreement usually lists all the assets of each soon-to-be-spouse (including property, property rights, and debts). The premarital agreement can dictate who gets what property in the case of a separation, and whether alimony will be paid. Premarital agreements are not just contracts in the case of divorce, they often lay out distribution of assets and property in the event that one spouse dies. Premarital agreements – or prenuptial agreements – are legal in all states, but will only be held up where they concern items of a monetary nature. Generally, premarital agreements are popular in second marriages, where one spouse wants to ensure that property and assets pass onto their children or grandchildren rather than the spouse in the event of death or divorce. It is also wise to enlist two attorneys – one for each spouse – to ensure that the premarital agreement is fair to both parties.