What is a prenuptial agreement, and how does a couple know when they need one?
KATHERINE STONER: A prenuptial agreement can also be called a premarital agreement. Sometimes the archaic Latin term “antenuptial agreement” is used, which means “before the nuptials,” or before the wedding. A “prenup,” as I will call it, is a contract between two people who are about to marry, that sets out their agreements about finances and property. How do they know if they need it? Well, if they don’t want the laws of their state, or a state that they might live in later, to determine what’s happening to their property and finances, then they might need a prenup. NOLO: Okay. According to the tabloids, I read that the reason for the delay in Tom Cruise’s marriage to Katie Holmes is that Katie’s dad, who is an attorney, has been wrangling over the details of the prenup. And one of the rumors that circulated is that her dad secured a $15 million trust fund for her and the baby, regardless of whether the couple marries. And I was under the impression that prenups only apply if you mar
