The most critical questions about prenuptial agreements that need to be addressed
Oct 20, 2021
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Prenuptial agreements are becoming more common around the world. Some of the most common questions that people have after learning about prenuptial agreements are addressed in this article.What does it mean to have a prenuptial agreement?
A prenup is an agreement formed by a couple during their happy times that specifies how all assets will be allocated among them in the event of their divorce. In other words, such an agreement is required to protect the assets that both couples own at the time of marriage. Because we include provisions for review, a prenuptial agreement is a very flexible document that deals with how the impact of children, changes in jobs, or illness may influence the couple's income over time.
Is a prenuptial agreement becoming more common?
Prenuptial agreements became famous in 2010 and have grown in popularity since then. While it may not be the most romantic of documents, it is prudent to consider what would happen if the marriage ended – and this is frequently simpler to do in joyful times.
What will my parents seem to think if I opt for a prenuptial agreement?
The reality is that parents are frequently the driving force behind any prenuptial agreement, as they want to guarantee that any assets they leave behind are safeguarded, especially if there is a family-owned business or trust to protect. We are conscious, however, that it is a complex subject to broach!
It's not uncommon for parents to suggest these documents — this doesn't indicate they really do not like their future son-in-law or daughter-in-law, and it certainly doesn't mean they believe the marriage will fail.
When and how should I bring it up with my partner?
If prenups are signed at least 21 days before the event, they have a better chance of being legally binding, so no one can claim they were forced to sign under duress. Raising the matter with your partner might not be as difficult as it used to be.
What will you do if your spouse requests that you sign a prenuptial agreement?
The first step you should speak with a lawyer to ensure you're getting the best advice possible. Don't be scared to ask your lawyer to help you negotiate a fair settlement. Preparing a prenuptial agreement gives you a good chance to figure out where you stand economically and what you may expect if you get divorced. Getting a divorce is such a stressful period, so having the financial security of knowing what the final agreement would be must be a nice thing during such a trying time?
What should I do now?
Whether you or someone you know is thinking about asking for a prenuptial agreement or has been asked to sign one, you should speak with an experienced family lawyer to learn more about the interpretation of a prenuptial agreement.