Why do a Prenuptial Agreement: Part 2
Prenuptial agreements typically address issues that would, otherwise, be decided by a judge in divorce court. Agreements can settle one or more of the following subjects: how assets (and debts) will be distributed during the marriage, and/or in the event of a death or a divorce each spouse’s entitlement to maintenance (i.e. alimony), including the amount and period of time of an alimony award each spouse’s right to property (whether owned individually or as a couple) each spouse’s right to buy, lease, sell, transfer or otherwise control property each spouse’s rights and responsibility in a family business each spouse’s right to death benefits from the other’s life insurance policy the state law which governs the agreement, or any other issue the couple agrees upon. Couples have a good deal of freedom in creating prenuptial agreements. There are, however, some issues that a “pre-nup” cannot cover. For example, an agreement cannot … Read More...