Little Fact about Premarital Agreements
Category : Women Business, Women Diary, Women Lifestyle, Women Personality
Premarital agreements, also known as prenuptial agreements, ussually done by wealthy people to handle the finances with minimal conflict during their marriage as well as in case of divorce. But is it really for wealthy people only?
Let’s say you are not rich enough now, and you may become rich in the future, with more valuable education or ideas and talents than they are today. Offcourse you will need to think about how you’d handle the division of a business in the event of a divorce.
Prenuptial and premarital agreements should be designed to protect both spouses, not only to protect the wealthier spouse and strip the other spouse of all of his or her rights. That’s why the basic requirements for premarital agreements to be enforceable are: signing the agreement must be voluntary, it can’t be unfair when it’s signed; each party needs to make a full disclosure of your assets and debts to meet everyone’s needs.
From the Nolo Press book Prenuptial Agreements: How to Write a Fair and Lasting Contract (Nolo Press 2004) write : “While a prenuptial agreement may not seem like a very romantic project, working together to consider and choose the terms of a prenup can actually strengthen your relationship. After all, marriage is a partnership in every sense of the word. Learning how to deal respectfully and constructively with each other about finances is a benefit in itself. So even if you conclude that you don’t need a prenup, using this book can help you converse with each other about the important—and sometimes challenging—financial matters that are sure to arise in the course of your marriage.â€
“When you marry, you make what you expect and hope will be a lifetime commitment to be there for each other in every way. Your prenup should support and reflect the spirit of partnership with which you approach your wedding vows.â€
So who said that premarital agreements aren’t romantic?
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