What
is included in a prenuptial agreement?
In
premarital, or prenuptial, agreements the most common provisions
deal with property acquired during the marriage, particularly
salary and other work-related income, like stock options.
Without a premarital agreement, this income is marital property
and will be divided at death or divorce in accordance with
state law. The prenuptial agreement usually makes this property
the separate property of the spouse who earns it. This would
mean that neither spouse has any right to the other's property
in the event of divorce and, depending upon state law, it
may also affect the property rights that each spouse has
if the other dies.
Another
common provision might set out or limit the amount of spousal
support (alimony) payable if there is a divorce. Another
might limit the amount that a spouse would receive when
the other spouse dies.
Some
provisions might not be enforceable. For example, a provision
that any children will be raised in a particular religion
or attend a particular school might not be enforced by some
judges. And any agreement limiting the amount that a parent
will pay in child support or determining custody rights
in the event of a divorce will probably not be enforced.
Also, provisions that eliminate or limit spousal support
obligations at divorce might not be enforced.