Donna and David Are Considering Marriage

question 54

Essay

Donna and David are considering marriage. It is the second marriage for both and each has children and substantial property from the previous marriage. They would like to enter into an agreement that would control the ownership and division of their property in the event of divorce. What is this agreement called, and what would normally be covered in the agreement?

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Definitions:

Financial Decision Making

The process of making choices relating to investments, budgeting, savings, and spending with the aim of optimizing financial goals.

Treasurer

The executive in charge of external financing in most companies. The treasurer generally reports to the CFO.

Finance Department

The division within an organization responsible for managing its financial activities, including planning budgets, tracking cash flow, and analyzing financial statements.

Large Corporation

A significantly sized company typically characterized by vast operations, substantial revenues, and a large number of employees.