A premarital agreement (sometimes called a “prenuptial agreement,” or “prenup”) is an agreement between prospective spouses about how they will own their property during marriage and how they will divide that property should the marriage end. For some, premarital agreements can strengthen a marriage. Many marriages end over disagreements about money. The process of creating a premarital agreement acts as a vehicle for you and your fiance to share your expectations about finances. Whether you end up signing the agreement or not, the process of discussing the agreement communicates the ground rules about money. This way you each know what to expect before you get married.
Premarital agreements also save litigation costs and emotional anguish. Some marriages do end in divorce. An effective premarital agreement or pre-registration agreement (in a domestic partnership) will provide you with greater certainty as to how property and debts will be divided should the marriage or domestic partnership come to an end.