Asked by: Rosalina Luetke
asked in category: General Last Updated: 15th April, 2020

What exactly is a prenup?

A prenuptial agreement is entered into before marriage. This agreement can set forth what will happen to your and your spouse's assets and income in the unfortunate event of divorce, separation or death. Most importantly, a prenuptial agreement can preserve the nature of property in the event the marriage ends.

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In this manner, what is the purpose of a prenup?

It may also be called a premarital agreement, an antenuptial agreement, a marriage contract or a prenup for short. Its purpose is to settle financial matters in advance in the event of either a divorce or death. While a prenuptial agreement may seem unromantic, some experts say it's just smart financial planning.

Similarly, is a prenup a good idea? While prenups usually aren't bad ideas, they aren't always necessary. For couples with significant financial assets on either or both sides, a prenup might be a good idea. There are a host of other reasons to think about getting a prenup. Namely, divorce (without a prenup) can seriously affect your credit.

Subsequently, one may also ask, what is a prenup in simple terms?

Definition of prenuptial agreement. : an agreement made between two people before marrying that establishes rights to property and support in the event of divorce or death Prenuptial agreements have long been used by couples who want to set down the terms of any future divorce before they walk down the aisle.—

Can you get rid of a prenup?

Unfortunately, prenups don't hold up in divorce court 100 percent of the time. Judges can and have thrown them out when certain aspects are in flagrant violation of the law or public policy. If you changed your mind about your agreement after you signed it, you might have voided it as well.

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