An agreement is an official document used to show that two parties have consent about a particular matter. A Prenuptial Agreement always takes place between spouses. Most couples can choose to draft a Prenuptial Agreement before marriage. However, it can be made at any point in the relationship. A Prenuptial Agreement is an agreement between spouses. It entails the division of the wealth and responsibilities in the case of a divorce or case one of them dies later in life. It is common belief that prenups are made for the rich. However, this is not the case because any couple can get into a Prenuptial Agreement.
When should I use a Prenuptial Agreement?
There are certain instances which call for the need to use a Prenuptial Agreement. One of them is if you are about to get married and you would like to lay out your different duties and responsibilities especially in case the marriage gets dissolved. The other reason will be if any of you has huge debt before the marriage or engagement. A Prenuptial Agreement is important in this instance because it will be used to clearly define which debts will be shared and which ones will be settled individually.
The other reason that could prompt the need for a prenup is if any of you has been married before. It is even more important to consider getting a Prenuptial Agreement if any of you has kids from a previous marriage. This will help you know how to go about the situation without causing any disagreements. It is also important to get a prenup if you own a business and you would like to divide the responsibilities and ownership. Therefore, it is evident that a Prenuptial Agreement is very important in your relationship.
How can I get a Prenuptial Agreement?
A Prenuptial Agreement is a decision that should be made mutually. One party should not go to the other one and get the prenup without further consultations. A Prenuptial Agreement should be done with both parties present. However, it is important to get a Prenuptial Agreement in good time. This is because any Prenuptial Agreement signed 30 days before marriage will be regarded as illegal since both parties might have been influenced or rushed. It is also important to include a third party such as a lawyer or a religious leader. The third party should be in a position to settle any disputes that might arise during the Prenuptial Agreement.
In conclusion, a Prenuptial Agreement is a hard place to go to. However, you will be grateful in the end that you did it. Dissolution of marriage is a hard thing to go through no matter the reason, whether as a result of death or divorce. One party can end up losing so much on top of all the heartbreak caused. Therefore, planning in advance would be a very good idea. In some instances, if the spouse who dies is wealthy, the relatives might want to be included in the inheritance, and it might lead to many disputes. However, if there is a legal Prenuptial Agreement involved, then it will be easier to settle the disputes.
Here is our collection of 31 Free Prenuptial Agreement Samples & Forms,