A Prenuptial Agreement (also called a Premarital Agreement) is a written agreement made between prospective spouses made in contemplation of marriage. Prenuptial Agreements are often complex legal documents outlining the rights of each party in the event of a divorce, legal separation or annulment.
Parties to a Prenuptial Agreement may contract with respect to: (1) The rights and obligations of each of the parties in any of the property of either or both of them whenever and wherever acquired or located; (2) 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; (3) The disposition of property upon separation, marital dissolution, death, or the occurrence or nonoccurrence of any other event; (4) The modification or elimination of spousal support; (5) The making of a will, trust or other arrangement to carry out the provisions of the agreement; (6) The ownership rights in and disposition of the death benefit from a life insurance policy; (7) The right of either party as a participant or participant's spouse under a retirement plan; (8) The choice of law governing the construction of the agreement; and (9) Any other matter, including their personal rights and obligations.
At the time of divorce, depending on the circumstances surrounding the drafting and execution of a Prenuptial Agreement, the enforceability may be challenged in the Court.