Without a prenuptial agreement or post-nuptial arrangement,a divorcing couple may face a ton of legal hurdles. Any couple seeking to rescue themselves out of divorce court ought to seriously look at a prenup.
Definition of a Prenup
A prenup is essential if both parties have come from previous marriages. Also, should they have kids from a former union or have important personal assets that they don’t wish to be more subject to the whims of a family court judge. By agreeing to conditions today, the divorce will operate easier when you adore one another once the bliss has worn off. Having a prenuptial agreement, you understand how things will be broken—giving you peace of mind along with costing you less cash in divorce lawyer fees. Most couples find it hard to explore the end of a union.
The Contents of a Prenup
If you’re coming into a union with property, retirement accounts, or money, you may want to maintain these resources separate from the rest. Community property is split evenly if a divorce occurs. Individual property isn’t divided. A prenup often comprises a waiver from both parties of any property or resources another partner acquired before the marriage. This is important for those who would like to preserve the resources they bring to a wedding.
By agreeing these resources are to stay separate, you restrict this debate in court. A prenup might include language about denying spousal assistance in the event of a divorce. Two subjects of big concern to many couples considering marriage cannot be dominated by prenuptial arrangements: child custody and child care. A premarital agreement signed before kids are born will not be able to explore the potential facets. So, any personal arrangement between the parties on such subjects won’t be binding.
Conditions When Signing a Prenup
Due to the closeness of this association between participated persons, courts inspect legal arrangements especially carefully. The agreement has to be entered into willingly. Contracts are often implemented under some form of pressure; consequently, not every kind of stress will constitute duress. Most courts conclude that a party has a valid right to call off marriage at any moment. The judges look for additional aspects like legal counsel’s unavailability for a single partner or even a one-sided agreement.
The arrangement has to be entered into without the existence of fraud. Fraud happens when a party intentionally or negligently misleads another party. However, as mentioned previously, prenuptial arrangements are held to greater scrutiny than normal industrial contracts. Courts call for a high level of honesty on the part of each celebration, known as a fiduciary obligation to another party.