What is antenuptial/prenuptial agreement?

An antenuptial or prenuptial agreement is a legally binding agreement made between two people who are about to marry. This agreement outlines how a couple will handle their finances, property, and other assets if they eventually divorce. An antenuptial agreement sets forth guidelines for distribution of property and debt in the event of a divorce. It can be an effective way to maintain financial security and protect certain assets, such as business interests or inheritance. This type of agreement can also help protect one partner from taking on the other’s debt. In New York, an antenuptial agreement must be signed prior to the marriage taking place. Both parties must have their own lawyer who can advise them on their rights and the agreement’s enforceability. The agreement must also meet certain requirements, such as having the agreement in writing, disclosing all of the parties’ assets and liabilities, and ensuring each partner has a reasonable level of understanding of what is in the agreement. Overall, an antenuptial agreement can be a valuable tool for couples who want to establish a framework for handling their finances in the event of a divorce. By having these guidelines in place, couples can ensure that both parties will be treated fairly in the event of a divorce.

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What is antenuptial/prenuptial agreement?

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