What is a premarital agreement? Should everyone have one?
A premarital agreement is a written agreement that two people sign prior to getting married. It is intended to clarify any questions that might come up, usually regarding property. It allows the parties to protect assets that they had acquired prior to the marriage. Premaritals are often used by older couples who both have assets from prior marriages and want to insure that the children from their first marriage get their parents assets upon the death of the parent. The decision regarding whether you need a premarital agreement is one that should be carefully considered. People with similar circumstances will make completely different decisions. If you are concerned, it would be advisable to contact an attorney and discuss the issues.
