Whats in a Prenuptial or Post-Nuptial Agreement?
If both spouses have substantial assets or one has more than the other going into a marriage, it may be wise to establish a form of protection in case the marriage does not go as planned. Prenuptial and post-nuptial contracts outline how assets and liabilities will be divided in the event of a divorce. Marital agreements are unique to each couple and should always involve legal counsel for both parties. The contract usually consists of an inventory of what each individual owns, such as property or other assets, as well as their debts. Typically, a prenuptial agreement states that both people keep the assets they bring into the marriage. It should also specify how assets built during the marriage will be divided if the marriage ends.
