The idea of a Prenuptial Agreement or (“Prenup”) is to give you the freedom to contract with your soon to be spouse about what the marital rights will be upon either death or divorce; rather than to rely on what the statutory scheme is for marital rights. A lot of what it deals with, is property that has already been acquired before the marriage and also for providing for children from prior marriages. Another big reason is a closely held or family businesses; and there can be issues dealing with alimony and property settlement in the event of a divorce.

A stronger reason for a Prenuptial Agreement is the more assets, business or issues that are in place. Many times the Prenuptial Agreements go when the parties are older than one another. In general, younger couples starting out that do not have a lot of assets will not give a lot of thought to a Prenuptial Agreements, but they have some advantages and disadvantages.