Antenuptial (Prenuptial) Agreement Definition and Legal Meaning
On this page, you'll find the legal definition and meaning of Antenuptial (Prenuptial) Agreement, written in plain English, along with examples of how it is used.
What is Antenuptial (Prenuptial) Agreement?
v. to judge or establish the value of. This could include for example, fixing the proportion which every person has to pay of any particular tax; estimation of damages by the prothonotary; finding the value for purposes of distributing property of deceased or for purpose of mortgaging some property, etc.
History and Meaning of Antenuptial (Prenuptial) Agreement
Antenuptial agreements (also known as prenuptial agreements) are contracts between couples who are about to get married. These agreements deal with the financial consequences of a divorce or a spouse's death. Antenuptial agreements have been around for centuries in different forms, but they became more common in the 20th century as the concept of marriage evolved.
The purpose of antenuptial agreements is usually to allocate property and financial rights between spouses during the marriage and in the event of divorce or death. Antenuptial agreements can specify what property is considered separate and what is marital property, which may affect the distribution of marital property in the event of a divorce. They can also set out the rights and obligations of the parties in the event of a death, such as inheritance rights.
Examples of Antenuptial (Prenuptial) Agreement
Sarah and John are getting married and want to protect their assets in case they get divorced. They hire lawyers to draft an antenuptial agreement that states what property is considered separate and what is marital property. The antenuptial agreement also sets out how their property will be divided in case of divorce.
Mary has built a successful business and wants to protect it in case she gets married. She and her fiance sign an antenuptial agreement that states that her business will remain her separate property and that her fiance will not have any interest in it in case of a divorce.
Tom and Sara are getting married and want to make sure their children from previous marriages are protected. They sign an antenuptial agreement that sets out how their property will be distributed in case of their death.
Legal Terms Similar to Antenuptial (Prenuptial) Agreement
- Postnuptial Agreement: a contract between spouses that is signed after they are married.
- Community Property: a legal regime that governs the ownership of property acquired during marriage in some states.
- Alimony: a payment by one spouse to the other after a divorce to provide support.