A prenuptial agreement is a contract entered into by two people prior to marriage. As a rule, the content of a prenuptial agreement varies widely, but commonly includes provisions for the division of property should the couple divorce and any rights to spousal support during or after the dissolution of marriage.

Both spouses should feel they gain from the marital agreement. The motivation of a person seeking a premarital agreement usually falls into one of two categories: the person with the assets wants his or her separate assets protected in the event of a divorce; or the person who holds few, if any, assets is giving up a career to stay home and raise a family and, thus, wants to be financially compensated for the loss of his or her career.

In general, a prenuptial agreement deals with the following: division of property on separation; inheritance of property; ownership of property (what is owned jointly and what is owned separately); the right to direct the education and moral training of their children and spousal support obligations.

There are certain limitations to prenuptial agreements. They can’t deal with custody or access to children;in a marriage contract, the right to remain in the matrimonial home; and in a marriage contract, the right to sell or transfer the matrimonial home.