Nuptial Agreement
A legal contract between spouses (prenuptial before marriage, postnuptial during marriage) that determines how assets and debts will be divided in divorce.
Understanding Nuptial Agreement
Nuptial agreements include both prenuptial agreements (signed before marriage) and postnuptial agreements (signed during marriage). They typically address property division, spousal support, and debt allocation in the event of divorce. To be enforceable, both parties must make full financial disclosures, have independent legal counsel, sign voluntarily without coercion, and the terms must not be unconscionable. Courts may set aside agreements that were signed under duress or that leave one spouse destitute.
Real-World Examples
Their prenuptial agreement specified that each spouse would keep their pre-marriage assets and any inheritance received during the marriage.
Related Terms
All assets and debts acquired by either spouse during the marriage, which are subject to division in divorce.
Marital Settlement AgreementA written contract between divorcing spouses that resolves all issues including property division, custody, and support.
Fair Market ValueThe price a willing buyer would pay a willing seller for an asset, with both having reasonable knowledge of the relevant facts.
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This definition is provided for educational purposes only and does not constitute legal advice. Divorce laws and terminology may vary by state and jurisdiction.
Always consult a licensed attorney in your area for advice specific to your situation.