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The prenup is the abbreviation for the term prenuptial contract or a cohabitation agreement. The cohabitation contract is a deal between the two parties, not married and living together, that defines the financial and property arrangements between them. The arrangement is enforceable in a court of law.
Louisiana courts typically enforce prenuptial agreements. The court will invalidate (throw out) the agreement if both spouses, a notary, and two witnesses haven't signed it before the marriage.
Typically, prenups cost around $2,500, but can cost more if you spend a while haggling out various issues. The cost of a prenup depends on where you live, what you're protecting, who your attorney is, and how long the negotiations take.
Reasons to Get a PrenupPrenuptial agreements are common among individuals with significant premarital assets or those who have been divorced and may have vowed to never again go through the challenges of divorce without a prenuptial agreement.
Prenuptial agreements (or 'prenups') lay out before a marriage who will be responsible for the property and finances of each partner during the marriage, and who this wealth belong to following a divorce. The equivalent agreement for those entering into a civil partnership is called a pre-registration agreement.