Definition - What does Prenuptial Agreement mean?
A prenuptial agreement is a contract made before a marriage between the future spouses that lists how the assets will be split if there is a divorce. Most states allow for prenuptial agreements to be made although they may not always be upheld. These agreements will be considered null and void if either party breaks a set of terms that are outlined within each document. Such terms are usually around the fault of the breakdown of marriage; a usual codicil within a prenup will state that if either party is unfaithful then they forfeit their rights under the agreement.
Justipedia explains Prenuptial Agreement
It is customary for one spouse to have their attorney draw up a draft prenuptial agreement. It is then reviewed by the other spouse's attorney. It is not a requirement that both parties have an attorney review it although it is in the best interest of both parties to ensure that the document is fair.
If a pre-nup is found to have outrageous conditions or clauses, the court can void it. A pre-nup can list more than the division of assets. It can also list the details of child custody. It is important to note that a pre-nup cannot "get rid of" child support. Child support is the right of a child and the child is not a party to the contract.
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