The Virginia Premarital Agreement Act applies to any premarital agreement executed on or after July 1, 1986. The Act basically allows the parties prior to marriage to contract regarding: (1) the right to manage and control property, whenever and wherever acquired or located; (2) the disposition of property upon separation, marital dissolution, divorce, death, or the occurrence or nonoccurrence of any other event; (3) spousal support; (4) the making of a will, trust, or other agreement; (5) life insurance ownership rights; (6) the choice of law governing the agreement; and (7) "any other matter, including their personal rights and obligations, not in violation of public policy or a statute imposing a criminal penalty."

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