A Premarital Agreement is a contract between two people who are contemplating marriage in the future. As such, the contract would not be valid if only one person was party to the agreement.
The forms provided in Standard Legal’s prenuptial agreement allow both parties to determine jointly their community property rights and financial responsibilities upon the consummation of the marriage. The Premarital Agreement defines the rights of each party prior to marriage; this can be important if one (or both) prospective spouse has accumulated assets they wish to protect prior to entering into the new marriage.
The premarital agreement also allows each party to the Agreement to provide that their assets — or at least a large portion of them — go to their children in the event of their death.
The Premarital Agreement is enforceable only if signed with the willing consent of both parties to the prospective marriage. That is, neither party can be under duress, pressure or force from the other party or some outside source.
Only after the parties have made full disclosure of each other’s financial situation to the other can a “prenup” be signed.
As such, it is impossible to create a Premarital Agreement that does not designate the assets and expectations of BOTH parties, since both parties must sign and agree without duress.
Get complete details here on Standard Legal’s Premarital Agreement legal forms software.