A Premarital Agreement is a contract entered into by a couple before they marry (or before registering a Domestic Partnership). This contract usually describes what each party’s rights will be if they decide to end their marriage or if one of them dies. The most common issues covered in Premarital Agreements are those related to money, property, and support. When creating a Premarital Agreement, the parties (usually with the assistance of their Attorneys) outline, in writing, the property and/or support each party will be entitled in the event of divorce or death. However, contrary to common false belief, Premarital Agreements aren’t designed to encourage divorce, or put one party at a disadvantage.
In fact, Premarital Agreements were traditionally designed to foster conditions that will help preserve a forthcoming marriage; courts believed that the availability of an enforceable Premarital Agreement would in encourage marriage.