### Separate Property in a Prenuptial Agreement
Separate property refers to the assets and belongings that each spouse owns individually. Typically, separate property includes:
– **Anything owned prior to the marriage**
– **Anything inherited or received as a gift during the marriage**
– **Anything either spouse earns after the date of separation**
In the event of a divorce, separate property will not be divided between the spouses.
### Separate Debts
Similar to separate property, separate debts are liabilities that belong to one spouse individually. All debts incurred before the marriage are considered separate debts. Examples of separate debts include educational or job training loans acquired before marriage.
### Benefits
The main benefit of a prenuptial agreement is that it can prevent separate property from being accidentally re-classified as joint property. This re-classification can occur when funds are co-mingled or payments are made from joint accounts. For example, if one spouse has a large student loan, both may agree to keep that loan as a separate debt. Consequently, only one spouse would be liable for the debt in the event of a divorce.