Premarital Agreement

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Create a Premarital Agreement in minutes, step-by-step simple.

An increasing number of marriages today join couples that are more mature. People who have accumulated some assets enter into second marriages or are marrying later in life. These couples need financial clarity for themselves and their family members. A Premarital Agreement (often called a Prenuptial Agreement, or a 'pre-nup' for short) details in advance the legal and financial expectations should the marriage come to an end. Having a pre-nup leaves both parties and their heirs protected and secure!

If you are contemplating marriage and have any significant amount of money or assets, it may be wise to address the marital expectations of those assets and protect your heirs by creating a Premarital Agreement.

While creating this type of agreement can sometimes make the persons getting married uncomfortable, it's still something that should be done: it makes sense to discuss the types of financial and custody issues covered in the agreement before marriage, so that each person knows the other's expectations in advance. Quite simply, the successful discussion of the issues covered in a Premarital Agreement show your ability to communicate as a couple!

A Premarital Agreement, also called a "pre-nuptial" or an "ante-nuptial agreement" -- but commonly known as a "prenup", is a binding legal contract entered into by and between competent adults who are contemplating marriage.

The Premarital Agreement allows the parties to determine their community property rights and financial responsibilities upon the consummation of the marriage.

A Premarital Agreement defines the rights of each party prior to marriage. This can be important if one (or both) prospective spouse has accumulated assets they wish to protect prior to entering into the new marriage.

The pre-marital agreement also allows each party to the Agreement to provide that their assets -- or at least a large portion of them -- go to their children in the event of their death.

The Premarital Agreement is enforceable only if signed with the willing consent of both parties to the prospective marriage. That is, neither party can be under duress, pressure or force from the other party or some outside source. Only after the parties have made full disclosure of each other's financial situation to the other can a "prenup" be signed.

If the marriage contemplated by the prospective spouses never occurs, the Premarital Agreement shall have no force or effect.

PREMARITAL AGREEMENT

In executing a Premarital Agreement the parties can avoid or alter current community property laws with regards to property already owned by the parties prior to marriage.

While the Premarital Agreement provides that assets or property owned by one of the spouses prior to the marriage remains the property of that spouse upon the dissolution of the marriage (and our Premarital Agreement allows for the full and complete disclosure of such property or assets on easy-to-use schedules), the Agreement provides that any asset or property acquired AFTER the marriage shall be owned by both parties jointly, with the right of survivorship.

The Premarital Agreement provided with this software also states that debts of one spouse shall not, before marriage, be the responsibility of the other party to the Agreement after the marriage is entered into and that debts of one spouse shall not, after the marriage, be the responsibility of the other party to the Agreement without the other spouse's written Agreement.

If you and your future spouse determine that creating a Premarital Agreement will provide clarity, security and harmony as you move into this new stage of your life, then the legal forms provided within this DIY Legal Software package are for you.

 

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