What is a Prenuptial Agreement?
A prenuptial agreement or commonly known as “prenup” is a written contract between two parties, often a male and a female, entered prior to a marital celebration. This agreement lists all the property of each party, including the debts and other liabilities. It ensures the rundown of property for each party so in case of divorce, there is no need of for the ex-couples to fight over who gets the properties.
Are you getting married?
Contrary to popular belief, prenups are not just for the rich. While it is popular among rich couples, prenup, it is essential for any couples regardless of status in life especially if:
- You want to pass separate property to your kids in the previous marriage
- Clarify financial rights
- Avoid arguments in case of divorce
- Get protection from debts
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