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Prenup Agreements: What To Do Before 'I Do'

First Posted: 03/28/08 03:45 AM ET Updated: 05/25/11 01:25 PM ET

Prenups

The Street:

Romance is in the air again, and it might be the time to pop that special question: "Do you want to sign a prenuptial agreement?"

The challenge is how to do it without getting slapped.

Most prenups will segregate the spouses' assets in an attempt to ensure that if a marriage ends, the couple will be treated as though their lives had never been shared in a financial sense. Whatever you earned before and during the marriage will remain yours, and jointly owned property will be divided.

But prenups vary widely, and some can also include bizarre terms, like the written promise that a partner won't go back on drugs or that the wife will get $1 million more in alimony for every time her husband cheats on her.

The government can only enforce prenuptial provisions for which it has a system in place. For example, if you want to stipulate who will wash the dishes in a prenup, keep in mind that so far, nobody in the U.S. has been arrested for committing the crime of leaving a plate in a sink.

Read the whole story: The Street

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Filed by Michelle Kung  |