What is a prenuptial agreement?

A prenuptial agreement, or prenup, is a legally binding contract between two people engaged to be married that covers what happens to each person's assets and debts in the event of a divorce.

Are prenuptial agreements fair?

One of the core underlying philosophies of prenuptial agreements is that they should be fair and just for both spouses. To that end, a prenup cannot contain any provision that significantly favors one spouse over another, such as a disproportionate property division after divorce.

Are prenuptial agreements a good idea in a divorce?

For partners with children or dependents from a previous marriage, prenuptial agreements are an excellent way to protect them in the event of divorce. Specifically, prenups can set aside pieces of property or other assets that are intended for existing dependents and, as such, shouldn't be considered marital property.