Question

A/an __________ normally specifies such matters as how assets will be distributed in the event of divorce or death; how debts will be paid, and what kind of insurance coverage to have.

Answer 1

This would be a prenuptial agreement. This type of agreement is often referred to as simply a prenup. It is a contract that is entered into before marriage or any other civil union. The content of it often varies but generally covers provisions for how to divide property and spousal support should the parties split. It may also include terms for how assets will be split if the union dissolves.