Virgin Islands Model Letter to Client regarding Antenuptial Premarital Agreements - informational
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How to fill out Model Letter To Client Regarding Antenuptial Premarital Agreements - Informational?
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FAQ
A premarital agreement is a contract entered into by a couple who plan to marry. It determines their rights regarding property and support when the marriage ends-whether by death or divorce.
It is also important to have a thorough agreement that anticipates as many contingencies as possible. The main purpose of many premarital agreements is to define or alter rights to property, so anyone entering such an agreement should discuss it carefully with an attorney.
In the U.S., courts have discretion to recognize foreign prenuptial agreements and will generally do so unless the agreement is found to be unconscionable or one that otherwise frustrates public policy.
A premarital agreement shall be in writing and signed by both parties. It is enforceable without consideration.
The point of a prenup is to define each person's rights and responsibilities if the marriage ends?either through death or divorce. By outlining who keeps what, who pays for what and who's responsible for what, a prenup could help you protect your assets and shield you from your partner's debts.
Asset Protection. One of the primary reasons for a prenuptial agreement is to protect individual assets owned by each party before entering into the marriage.
An antenuptial agreement or a prenuptial agreement is an agreement made between parties before getting married, permitting them to individually retain certain assets during the marriage and after the marriage if divorce arises.
It typically lists each person's assets, debts, and outlines how they'll be handled should the couple divorce later on. Prenups can be a valuable financial tool. While they may be difficult to think about while planning a wedding, prenups can provide comfort in knowing you'll be protected.