A premarital agreement, or prenuptial agreement, is a contract entered into by two people prior to marriage. The content of a prenuptial agreement can vary widely, but commonly includes provisions for the division of property should the couple divorce and any rights to spousal support during or after the dissolution of the marriage.

There are two types of prenups: a marriage contract for people who are married or about to be married, and cohabitation agreements for unmarried couples. Laws around the world vary in their recognition of such agreements.

Historically judges in the United States frowned upon prenuptial agreements as corrupting what marriage was supposed to stand for, and often they would not recognize them. Nowadays prenuptial agreements are valid in all 50 states and the District of Columbia.

A premarital agreement can also address the rights of the parties at the death of one of the spouses. It may state what assets are going to be passed to the surviving spouse and what assets can be passed to other third party beneficiaries. A premarital agreement should be fair when it is entered into and each party should provide a complete financial disclosure statement to the other party prior to entering into a premarital agreement. Because a premarital agreement addresses the rights of the parties in a potential future divorce, each party should be represented by his or her own attorney. The parties should work on a premarital agreement many months before their wedding date.

If you are considering a premarital agreement, please give Martinson Law Offices a call and we will be happy to assist you in the drafting or review of a premarital agreement in order to protect your rights.