A Premarital Agreement (a/k/a Prenuptial or Antenuptial Agreement) is a legally binding contract, entered into by parties before their marriage that defines what will happen when the marriage ends, either by dissolution or the death of one of the parties. A Postnuptial Agreement is an agreement that parties enter into after they are married when they wish to provide for a specific division of assets or the fulfillment of certain obligations in the event of dissolution of marriage or death. Both types of marital agreements allow parties to sort through financial issues so that each has a clear understanding and expectation concerning their financial rights and obligations.
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