MS HB74

Creates the Uniform Premarital Agreement Act allowing prospective spouses to execute written agreements signed by both parties that become effective upon marriage and are enforceable without consideration.

Permits parties to contract regarding property rights, spousal support modification or elimination, life insurance death benefits, choice of law, and other matters not violating public policy, but prohibits agreements that adversely affect a child's right to support.

Premarital agreements are not enforceable if a party proves lack of voluntary execution or that the agreement was unconscionable and the other party failed to provide fair financial disclosure or the party lacked adequate knowledge of the other's finances.

Allows courts to require spousal support despite agreement provisions if the modification or elimination would make a party eligible for public assistance at time of separation or divorce.

Provides special exception for persons aged 65 and older: their assets cannot be used for Medicaid nursing home coverage for the other spouse unless both parties specifically agree.