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Simple English definitions for legal terms
Prenuptial agreement
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A quick definition of Prenuptial agreement:
A prenuptial agreement is a contract that a couple signs before they get married. It sets the rules for what will happen if they decide to separate or get divorced. Some things that people might want to include in a prenup are how they will divide their money and property, and whether one person will pay the other person alimony (money to help support them) if they split up. However, the agreement cannot have rules that make it too easy for the couple to get divorced, because that goes against what is good for society.
A more thorough explanation:
Definition: A prenuptial agreement, also known as an antenuptial agreement, premarital agreement, or prenup, is a legal contract that a couple enters into before getting married. This contract outlines the terms for separation, including how assets and debts will be divided in the event of a divorce or separation.
For example, a prenuptial agreement may state that in the event of a divorce, one spouse will keep the family home while the other spouse will receive a lump sum payment. It may also outline how any joint bank accounts, investments, or property will be divided.
Prenuptial agreements are often used by couples who have significant assets or debts, or who want to protect their individual financial interests in the event of a divorce. They can also be used to clarify financial expectations and responsibilities during the marriage.