Conscious Coupling:  Prenup 101

So, what exactly is a prenup?  

A prenuptial agreement is a private contract between two people planning to get married. The agreement typically sets out what will happen to certain assets, debts, and earnings in case of divorce or death.

The written prenup document is not filed with the court - each spouse keeps a copy of it. If the couple later divorces, they can use the prenup as the basis of a divorce agreement. For instance, if they agreed to each keep their own retirement funds (what they had before they got married), that’s what goes into the divorce agreement. 

If the couple disagrees about how the prenup applies in the divorce, the prenup document can be introduced as evidence in court. For instance, they may have agreed in the prenup that one spouse would keep the marital home if they ever divorced.  Then, at the time of the divorce, let's say the home is in disrepair and the mortgage is underwater. If the couple now disagrees about what should happen to that house, a judge can decide whether to enforce the prenup.