Wedding Favors
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BREAKING UP. Rights and obligations with prenuptial agreement.
   
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Formula For Successful Wedding Party
A wedding in the family, especially if it is the first, is such an important event that parents are inclined to forget the limits of .....
A wedding in the family, especially if it is the first, is such an important event that parents are inclined to forget the limits of .....
Prenu
ptial Agreements (Premarital Contract) are like insurance
policies. You do the paperwork, and then hope you'll never need
it. However, since half of marriages end in divorce within the
first seven years, you may want to consider a prenuptial
agreement before you walk down the aisle and say, "I do."
Since you could later be engaged in a nasty, costly, and
emotionally draining divorce some day, you should consider a
prenuptial agreement as a precaution. Below we have given you
some information on what is in a prenuptial agreement and
whether it could be useful for you.
A prenuptial or ante nuptial agreement is a document signed by
two people who intend to be married. It describes their rights
and obligations should they get divorced. A prenuptial agreement
informs the court how they want their assets and property
divided up.
Divorces become messy when parties cannot agree on the
distribution of property, such things as the house, the house,
stocks, and bonds and whether one party should pay the other
alimony, now known as "maintenance" in most states. Assume that
the husband has $1,000,000 in his own name prior to the
marriage. A properly drafted prenuptial agreement can award that
same $1,000,000 to him after a divorce, notwithstanding what he
does with the money, such as purchasing a home in joint tenancy
or shifting the money into other accounts. Without a prenuptial
agreement, the wife might be entitled to one-half of the
$1,000,000 or more, depending on the financial circumstances of
the parties at the time of the divorce. The prenuptial agreement
is a powerful and valuable tool that can favor the husband,
protect the wife, or serve both of them fairly. It is a question
of circumstances and intentions.
Candidates for prenuptial agreements used to be just older
individuals with huge estates that they wanted to protect from
gold diggers for their children from previous marriages. Since
more millionaires are born every day, the candidate pool is
growing by leaps and bounds. Now everybody has something to
protect: an unpublished author, the budding inventor, anybody
with a lucrative profession or a good idea. So, before you
dismiss the idea of a prenuptial agreement, assess your
situation in life and your long-term future in deciding whether
a prenuptial agreement is right for you.
Consider at length the nature and extent of your present and
possible future assets. A prenuptial agreement can be a very
simple document running only a few pages that segregates each
party's assets owned before the marriage, or it can be a very
complicated document that runs dozens of pages because it deals
with income and assets acquired during the marriage, the payment
of debts, attorneys' fees, alimony/maintenance, and other
financial matters. The next hurdle is raising the issue with
your intended spouse, a very unromantic event. It helps to get
it over with early. Perhaps you could blame it on someone else,
such as your parents who may want to involve you in a family
business, or possible business partners.
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If you have no one to hold responsible, just be honest. TellCreating a Terrific Wedding Website for friends and family.
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your future spouse that you intend to be open, fair, and honest,
and the fact that you will be revealing all your assets is a
sign of trust. Assure your intended that he or she will be
protected during the negotiation procedure and in the prenuptial
agreement, and stress that the document is something you feel is
necessary and wise before you get married. The most important
thing is to discuss it earlier instead of later, so that the
degree of pressure before the wedding is mitigated.
Couples do not usually break engagements because of disputes
over prenuptial agreements. In almost every instance, the
agreement is signed and the parties are married. It is also
completely appropriate to state that you will not get married
without a prenuptial agreement; case law has indicated that this
will not invalidate an agreement if made before the wedding.
The best way to avoid charges of duress or coercion is to tell
your future spouse early on that you want the prenuptial
agreement. Sometimes, such documents are signed shortly before
the wedding, but have been the subject of negotiation for
months. A well-drafted agreement will recite the fact that, even
though it was signed shortly before or on the wedding date,
negotiations began much earlier. It is for clauses like this
that you consult experts.
Eventually, a prenuptial agreement will be fashioned so that you
and your future spouse both accept it. The terms may not be what
you initially envisioned and may not be what your intended would
want. But that is the nature of compromise.
Note that Legal Helper
Corp. provides an easy-to-use, quick, and economical online
method for creating Prenu
ptial Agreement (Premarital). -
http://www.legalhelpmate.com/prenuptial-agreement.aspx
About the author:
Jeffrey Broobin is a free-lance writer on family and finance
issues; his main goal is to help people during their complicated
period of life.
Website: Legal Helper
Corp. Email: jeffreyb@legalhelper.ws