What is a premarital agreement and what are its benefits?

A premarital agreement (sometimes called a prenuptial agreement) is a legally binding contract entered into by a couple before getting married. The purpose of a premarital agreement is to protect each person’s individual property and assets should the marriage come to an end. In Indiana, premarital agreements must be in writing and signed by both parties. The benefits of a premarital agreement are vast in Indiana. It allows couples to customize their own agreement—dictating the financial aspects of their relationship—rather than relying on the generic default divorce laws that are usually enforced. This includes issues such as division of property and assets, alimony, or child support obligations. A premarital agreement can also save couples time and money should the marriage end in divorce. Without a premarital agreement, the parties would be subject to the legal process and the court’s decisions on how property should be divided, which can take a lot of time and money. With a premarital agreement, all these issues are decided beforehand. In summary, a premarital agreement is an important tool for couples in Indiana. It allows them to take control of their financial situation and customize their marriage agreement to better suit their individual needs and preferences. It also saves them time and money should the marriage end in divorce, as the division of property and assets is already laid out in the contract.

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What is a premarital agreement and what are its benefits?

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