What Is a Premarital Agreement?
- Prenuptial agreements are often drawn up to avoid arguments in the case of divorce. They can also clarify each person's financial rights during and after the marriage.
- Without a prenuptial agreement, divorced couples may both be liable for incurred debts. Your spouse may have the right to sell or give away your property, and vice versa.
- Many couples find prenuptial agreements unromantic, as they presuppose that divorce is coming. They may be a waste of money, as some states protect divorced couples' financial rights without the agreement.
- Prenuptial agreements cannot restrict child custody or visitation rights, according to Nolo.com. They cannot make divorce seem financially beneficial to either party.
- Your prenuptial agreement can specify how your assets will be handled after your death, but be sure to complete your estate planning documents, such as your will and living trust. Without these, your wishes cannot be enforced.
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Without An Agreement
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