Prenuptial Agreement Legal Meaning and Definition

Here is a simplified definition of the legal term Prenuptial Agreement.

Prenuptial Agreement (noun)

A prenuptial agreement is a written contract between two individuals who are planning to marry. This document details the couple's personal and financial assets, liabilities, control over each other's property, and how their earnings and savings will be utilized during their marriage. Additionally, it outlines how assets would be divided and any potential alimony arrangements should the marriage end in divorce. Prenuptial agreements are often used by individuals with substantial income or assets, individuals entering into second or subsequent marriages, and individuals with children from prior relationships.