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Prenuptial Agreement Basics
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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.
Disclosure
The requirement that both parties provide a full and honest reporting of their financial assets and liabilities when creating a prenuptial agreement.
Separate Property
Assets owned by either spouse before marriage that are not subject to division in a divorce without a prenuptial agreement.
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.
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.
Enforceability
The legitimacy and legal binding nature of a prenuptial agreement when it is deemed fair and consistent with legal standards.
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.
Postnuptial Agreement
An agreement similar to a prenuptial agreement but signed after the couple has already married.
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.
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