Getting married is one of the most romantic things a couple might have during their lives. Although being “too much” in love could seriously affect your judgment when executing a prenuptial agreement, that is designed to address financial matters rather than personal preferences before the marriage. Think about it as of a special type of insurance in order not to kill the romance between you and your spouse.
A prenuptial agreement, also called antenuptial agreement or premarital agreement, is a written contract that is concluded before marriage. It commonly includes:
- the terms of possession of assets
- treatment of future earnings
- control of the property of each party
- potential division if the marriage is later dissolved
A prenuptial agreement can help document each spouse’s property or special arrangements between the spouses and reduce conflicts during divorce. It also protects the inheritance rights of children from previous marriage and protect spouses from each other’s debts.