A “premarital agreement” is an agreement between prospective spouses made in contemplation of marriage and to be effective upon marriage.
Secret #1 - What is required for a valid premarital agreement?
A premarital agreement must be in writing and signed by both parties. It is also enforceable without consideration.
Secret #2 - What information can a premarital agreement include?
(1) The right to buy, sell, use, transfer, exchange, abandon, lease, consume, expend, assign, create a security interest in, mortgage, encumber, dispose of, or otherwise manage and control property;
(2) The disposition of property upon separation, marital dissolution, death, or the occurrence or non-occurrence of any other event;
(3) The making of a will, trust, or other arrangement to carry out the provisions of the agreement;
(4) The ownership rights in and disposition of the death benefit from a life insurance policy;
(5) The choice of law governing the construction of the agreement; and
(6) Any other matter, including their personal rights and obligations, not in violation of public policy or a statute imposing a criminal liability. It should also be noted that the right of child support cannot be adversely affected by a premarital agreement.
Secret #3 - When does a premarital agreement become effective?
A premarital agreement becomes effective upon marriage.
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