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Prenuptial Agreement Basics
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Marital Property
Property acquired by either spouse during the marriage that is considered for division in a divorce.
Sunset Clause
A provision in a prenuptial agreement that sets a specific time after which the agreement will no longer be valid.
Postnuptial Agreement
An agreement similar to a prenuptial agreement but signed after the couple has already married.
Enforceability
The legitimacy and legal binding nature of a prenuptial agreement when it is deemed fair and consistent with legal standards.
Disclosure
The requirement that both parties provide a full and honest reporting of their financial assets and liabilities when creating a prenuptial agreement.
Prenuptial Agreement
A legal document signed by a couple before marriage outlining the division of assets and spousal support in the event of divorce or death.
Coercion
A situation in which one party pressures or forces the other to sign a prenuptial agreement, which can lead to the document being invalidated.
Separate Property
Assets owned by either spouse before marriage that are not subject to division in a divorce without a prenuptial agreement.
Fair and Reasonable
A standard that prenuptial agreements must generally meet to be enforceable, ensuring that the terms do not favor one party significantly over the other.
Spousal Support (Alimony)
Financial assistance that one spouse may be required to pay to the other after a divorce, which can be outlined and regulated within a prenuptial agreement.
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