A prenup contract is a legal
agreement made before marriage that that protects a couple in case of a
separation or a demise of a partner. It may also be called a prenuptial or
premarital contract. A prenuptial agreement explains how to manage financial
matters if the marriage ends. For example, it may describe how to distribute
your assets, estate, debts, or marital property. A premarital contract can be
used to:
- Protect a spouse’s premarital properties
- Modify alimony payments
- Protect a partner from the debts of the other partner
- Simplify the property division process
- Support an estate plan
- Protect a personal or family business and its assets