A premarital agreement, also known as a prenuptial agreement or prenup, is a legal contract that is signed by two parties before they get married. The purpose of a premarital agreement is to establish the legal rights of each party in the event of a divorce or separation. It is a good way to protect personal assets and ensure that both parties are aware of their responsibilities in a marriage.
Here is an example of a premarital agreement:
Premarital Agreement between [insert name of first party] and [insert name of second party]
I. Purpose of Agreement
This agreement is made in anticipation of marriage between [insert name of first party] and [insert name of second party] (the “Parties”). The Parties desire to set forth their rights and obligations with respect to their respective property, both separately and jointly.
II. Property
A. Separate Property: Each Party shall retain all property, both real and personal, belonging to him or her prior to the marriage.
B. Marital Property: All property acquired jointly by the Parties, whether acquired before or during the marriage, shall be deemed marital property.
III. Division of Property
A. In the event of divorce or legal separation, the Parties agree that all separate property shall remain the sole and exclusive property of the Party owning such property.
B. All marital property shall be divided equitably between the Parties. The Parties agree that the determination of an equitable division of marital property shall be made by the court.
IV. Spousal Support
The Parties agree that in the event of a divorce or legal separation, spousal support shall be determined by the court.
V. Execution
The Parties have executed this Agreement as of the date and year first above written.
[insert signature and printed names of both Parties]
This is just an example of a premarital agreement. It is important to remember that each agreement is unique to the Parties involved and should be tailored to their specific needs. Consulting with an experienced family law attorney is recommended when creating a premarital agreement.