In recent months, there has been tremendous speculation in the news regarding the terms of Tiger Woods’ Pre-Nuptial Agreement and how Elin will fair in the divorce.  However, few people understand what a Pre-Nuptial Agreement is and how it effects divorce litigation.  Perhaps even fewer people know that Pre-Nuptial Agreements are not just for the rich and famous and can be used by anyone contemplating marriage.

A Pre-Nuptial Agreement is an agreement made between prospective spouses in contemplation of their marriage.  The purpose of the agreement is to define the interests, rights and obligations of each spouse prior to the marriage.  These agreements can define anything from how the marital living expenses will be paid to how the parties will file their taxes.

However, most often, parties enter into Pre-Nuptial Agreements in order to set forth each party’s rights and obligations in the event of their separation or Divorce.  If the Pre-Nuptial Agreement is drafted properly, it could help the parties avoid difficult and costly divorce litigation.  Typically the issues of property distribution and spousal support are detailed in a Pre-Nuptial Agreement.  One of the benefits of a Pre-Nuptial Agreement is that parties can preserve their pre-marital assets.  Another important benefit of a Pre-Nuptial Agreement may be to deal with end of life issues.  Perhaps the most talked about case dealing with this issue is that of Anna Nicole Smith and her marriage to billionaire J. Howard Marshall.  However, there are many famous people that should enter into Pre-Nuptial Agreements but do not. It is curious whether Chelsea Clinton signed a Pre-Nuptial Agreement prior to her marriage.

The terms of each Pre-Nuptial Agreement vary depending on the parties and their respective situations.  To determine if a Pre-Nuptial Agreement is right for you and your prospective spouse, call our office for an appointment.  (908) 879-9499