A prenuptial agreement, also known as a prenup, is a legal agreement between two people who are planning to get married. The purpose of a prenuptial agreement is to establish the property and financial rights of each spouse in the event of a divorce or legal separation. Typically, a prenuptial agreement will outline how assets and debts will be divided in the event of a divorce or separation, as well as how spousal support (alimony) will be determined. It can also address other issues such as inheritance rights, responsibility for premarital debts, and the ownership and disposition of property acquired during the marriage. The one thing a prenuptial agreement can not cover is child custody. If you are considering a prenuptial agreement contact us at Dummit Fradin and let us help you execute a premarital agreement today.