| Anyone who's ever gone through a nasty, litigious | | | | - It must have been signed by both parties in front |
| divorce has probably thought to himself or herself: "I | | | | of a notary. |
| wish I had signed a prenup." You've probably heard | | | | - It must have been written with full disclosure to |
| the term thrown around in gossip magazines and | | | | both parties. |
| entertainment shows, but may be wondering what a | | | | Advantages |
| prenuptial agreement is and what it does. | | | | Obviously, the main advantage of the prenuptial |
| A prenuptial agreement is a contract entered into | | | | agreement is that it provides a template for property |
| prior to marriage by both spouses, which specifies | | | | division and alimony in case the marriage ends. It is a |
| how property will be divided and spousal support will | | | | rather pragmatic solution to the problems inherent in |
| be allotted should the marriage end in divorce. | | | | marriage. They can severely limit a spouse's claims to |
| Basically, it sets the terms that would normally be | | | | alimony and property rights, assuming the prenuptial |
| drafted after the marriage ends. So rather than have | | | | agreement was executed correctly. It can be very |
| a court decide who gets the china and what alimony | | | | difficult to invalidate such a document. |
| should be, the two people getting married decide | | | | Disadvantages |
| what would happen in the eventuality of a divorce, | | | | When you get right down to it, it's the pragmatism |
| removed from the anger and acrimony of en ending | | | | of the agreement that can make the prenuptial |
| marriage. | | | | agreement rather unattractive. It can be seen as a |
| In the US, all 50 states and Washington, D.C., | | | | sign of bad-faith when one spouse suggests a |
| recognize prenuptial agreements, as long as those | | | | prenup, as it can be seen as suggesting a lack of |
| agreements conform to the following standards: | | | | faith in the other spouse. Additionally, prenuptial |
| - The agreement must be in writing. | | | | agreements, should they not conform to the already |
| - The agreement must have been voluntarily signed | | | | stated standards, don't hold much water. A court can |
| by both parties and cannot be the result of duress. | | | | dismiss the statements of an improperly drafted |
| - The agreement must not be unconscionable (that | | | | prenuptial agreement. For this reason, it is beneficial |
| is, it cannot be patently unfair to one party). | | | | to have a lawyer draft the document. |
