A Prenuptial Agreement Form is needed when drawing up a contract between two people before getting married or entering into a type of civil union or partnership.
The content of a Prenuptial Agreement Form varies widely, but commonly includes provisions for the division of all property in the event of dissolution of the marriage.
A Prenuptial Agreement Form may also include terms for the forfeiture of assets as a result of divorce on a number of different grounds that are outlined in the agreement.
A Prenuptial Agreement Form is valid in nearly all countries and five components are required for the form to be binding:
- Prenuptial Agreement Forms must be in writing, oral prenups are not valid
- A Prenuptial Agreement Form must be executed voluntarily and in good faith between both parties
- There must be full and fair disclosure at the time of execution of the Prenuptial Agreement
- The specifics of the agreement can’t be outrageous, unreasonable or illegal
- The Prenuptial Agreement must be executed by both parties, not by their attorneys, and signed and sealed before a notary public
When drafting a Prenuptial Agreement Form, it is very important to recognize that there are two types of laws that govern divorce in the United States. 41 states have equitable distribution laws and 9 states have community property laws.
Prenuptial Agreement Forms written in community property states may not be designed to govern what occurs in an equitable distribution state and vice versa.
Remember, a Prenuptial Agreement is an agreement entered into before you get married. It is a contract used to decide what will happen to your separate assets and your joint assets, in the event your marriage ends in divorce.
A Prenuptial Agreement cannot be forced upon a future spouse or signed under duress.
And, your future partner must have adequate time to review the Prenuptial Agreement Form and should at all times consult an attorney to be sure the provisions are completely understood.