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Simple English definitions for legal terms
antenuptial (prenuptial) agreement
Read a random definition: rescript
A quick definition of antenuptial (prenuptial) agreement:
An antenuptial agreement, also known as a prenuptial agreement, is a written contract between two people who are planning to get married. This contract outlines how their assets will be divided if they decide to end their marriage in the future. It is often used when one or both parties have a lot of money or property, children from a previous marriage, or other complicated financial situations.
A more thorough explanation:
An antenuptial agreement, also known as a prenuptial agreement, is a written contract between two people who are planning to get married. This agreement outlines the terms of possession of assets, treatment of future earnings, control of the property of each, and potential division if the marriage is later dissolved.
Antenuptial agreements are common if either or both parties have substantial assets, children from a previous marriage, potential large inheritances, high incomes, or have been "taken" by a prior spouse.
Example 1: John and Jane are getting married. John owns a successful business and wants to protect his assets in case of a divorce. They both agree to sign an antenuptial agreement that outlines how their assets will be divided in case of a divorce.
Example 2: Sarah and Tom are getting married. Sarah has children from a previous marriage and wants to ensure that her assets are protected for her children's future. They both agree to sign an antenuptial agreement that outlines how Sarah's assets will be divided in case of a divorce.
These examples illustrate how an antenuptial agreement can be used to protect assets and ensure that both parties are aware of how their assets will be divided in case of a divorce.