What Is a Pre-Prenuptial Agreement?
A pre-nuptial agreement is a contract that two people enter into before they get married.
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Generally
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A pre-nuptial agreement, also commonly called a pre-marital agreement, is executed before marriage and it defines the rights of the spouses with regard to their property and to marital property.
Purpose
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The purpose of the pre-marital or pre-nuptial agreement is to plan ahead in case the marriage ends in divorce. The pre-marital agreement takes care of dividing property in a divorce.
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Time Frame
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As the name implies, a pre-marital or pre-nuptial agreement must be executed before the actual marriage.
Warning
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Before signing a pre-marital agreement, you should seriously consider consulting an attorney. By signing the pre-marital agreement, you might waive rights to property and assets to which you would otherwise be entitled in a divorce.
Limitations
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Most states don't allow spouses to decide in a pre-marital agreement what happens to children. In other words, child custody issues cannot be resolved in a pre-nuptial agreement.
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