You are in: Home > Law

Will the Prenuptial agreement protects all my current and future assets?

27th June 2012
By Clark_Taylor in Law
RSS Legal RSS    Views: N/A

Yes, pre nuptial agreement will protect all your current and future assets. It excludes the liabilities of the parties towards each other and the asset of the parties earned by before or after the marriage will remain the sole property of the individual party. If the parties do not prefer to enter into pre nuptial agreement, the assets will be divided on the equal basis. A prenup agreement supports the matrimonial relation because marriage is not only a physical or emotional bond, but it is also a financial union. Prenuptial agreement is made between the couples who are intending to enter into marriage. It is a complete document that avoids the disputes between the parties on the division of assets. It also provides the mental satisfaction to the couples that whatever they will earn or buy, it remain in their asset.

It also protects the disputes and apprehension between the parties about the division of assets. It is made between spouses before they marry or enter into a civil partnership which establishes how they wish their assets to be divided if they should divorce or have their civil partnership dissolved.  It is also used to preserve inherited family wealth.

It is very useful for the couples to enter into pre nuptial agreement before the marriage. It will keep the cordial relation between the spouses. It also minimises the injustice between spouses. Each couple must describe in great the detail his assets in the pre nuptial agreement. This will help the parties to ascertain which party owns what before the marriage. Mostly, the disputes between the spouses occurred on the financial assets. It also strengthens the family relationship and provides the more pleasure to the matrimonial life. It is an important document because it determines the ownership of the assets. Couples can freely earn or buy anything without the fear that their asset will be divided equally. This agreement stops the operation of rule of division of assets on equal basis.

What is law about pre nuptial agreement?

The Supreme Court in the case Radmacher v Granatino held that pre nuptial agreements are legally binding. The pre marital agreement must in written form. It must contain fair and just provisions. It must not create imbalance and injustice with any party. The court can vary the agreement if there is an injustice with any party. The couples before entering into this agreement must read carefully and understand the implications of each paragraph of the agreement. The both parties must sign the agreement before the twenty one days of the marriage.

Application and features

  • Provides security during and after marriage to both people

  • avoids future disputes over how assets should be split and what each person contributed

  • helps speed up the divorce process and saves divorce costs

  • helps ensure that items with sentimental value remain with the person to whom they matter most

  • helps ensure that the people you choose (such as children from earlier relationships) inherit your wealth

  • prevents your wealth from being gifted away shortly before break-up

  • helps protect business assets from being split and sold

  • makes a separation less emotionally stressful by removing the need to negotiate over as many things

Net Lawman provides the following comprehensive prenuptial agreement. Such as:

Prenuptial agreement

This prenuptial agreement is suitable for any people getting married in the future. Includes references to financial accounts, houses, other property, furniture, children, mortgages, utility bills.
This article is copyright
Bookmark and Share

Ask a Question about this Article

powered by Yedda