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Prenuptial Agreements
Prenuptial Agreements
A prenuptial agreement is a written contract that two people enter into prior to marrying one another. There are two types of prenuptial agreements. The first is called a marital contract and the second is called a cohabitation agreement. Marital contracts are for couples who are currently married, or about to get married. Cohabitation agreements are for couples who live together, but are unmarried.
The terms of every prenuptial agreement vary. However, prenuptial agreements usually outline the terms of property distribution, spousal support, and other related issues, should the couple get a divorce. In some states, a clause may be added to the prenuptial agreement, which will allow the agreement to expire after a specified length of time.
In order for a prenuptial agreement to become valid, it must meet certain legal requirements. It must be in writing, it must be voluntarily executed, it must fully disclose assets, it must be fair and it cannot be unconscionable, and it must be executed by both parties involved before a notary public.
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