Designation of Separate and Marital Property

In a prenuptial agreement, "Designation of Separate and Marital Property" refers to how each partner’s assets and debts are classified before marriage. Separate property includes anything owned by one partner before the marriage or received as a gift or inheritance. Marital property consists of assets acquired together during the marriage. This classification helps determine how property will be divided if the marriage ends. Clearly outlining these distinctions in a prenup can prevent disputes and ensure that both partners understand their financial rights and responsibilities.