A Prenuptial Agreement Does Not Have to Be in Writing

question 34

True/False

A prenuptial agreement does not have to be in writing to be enforceable.

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Definitions:

Tax Base

The assessed value of all taxable income, property, assets, or other items that a government can tax.

Income Tax

A tax levied by governments on individuals or entities based on their income or profits.

Saving Rate

The portion of income that is not spent on consumption but rather saved or invested.

Double Taxation

The imposition of taxes on the same income, assets, or financial transaction at two different levels of government, such as corporate income being taxed both to the corporation and to the shareholders when distributed as dividends.