What is a prenuptial agreement?

A prenuptial agreement (also known as a “prenup”) is a legally-binding contract between two people prior to their marriage. This agreement sets out the rights, responsibilities, and expectations of both parties in the event of a divorce or the death of one of the partners. The agreement typically addresses potential issues such as spousal support, the division of assets, and the sharing of liabilities. In Delaware, prenuptial agreements are covered by the Delaware Statutory Laws. To be valid in Delaware, prenuptial agreements must: be in writing, be signed by both parties, and specify the rights, assets, and obligations of each party. Both parties must have the opportunity to make a full financial disclosure and have a lawyer review the document before signing. In the event of divorce, prenuptial agreements serve as the main document detailing how assets, liabilities, and spousal support will be divided between the two partners. This guideline can help simplify the divorce process and minimize confusion when the couple is unable to reach agreements with each other. Prenuptial agreements can be a great way to secure the future of both parties. However, it is always recommended that couples seek the advice of a lawyer to ensure the document is properly drafted and that all legal requirements and guidelines are met.

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What is a prenuptial agreement?

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