Many people believe that a premarital agreement is signed to determine how the property will be divided in case of divorce. But it also spells out the legal rights of a couple during and after the marriage.
It can also determine how property can be divided in the event of death of a spouse. In most states a husband or wife is entitled to a certain percentage of the deceased property regardless of what is stated in the last will and testament. If you have a premarital agreement it can overrule the law. Many couples try to spell out in detail what rights they inspect during the marriage. But many courts will not enforce this.
Whether a premarital agreement is legal is really determined by the state. And this may vary from state to state. In most cases each party must disclose their assets in a truthful manner or the agreement may be found not valid.
Because most premarital agreements usually are dealing with large sums of money and property it is best to consult an attorney who specializes in this type of agreement. In some states the premarital agreement is not even legal.
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