"Prenuptial Agreement
Prenuptial agreement is a good tool to protect your assets. This article contains information on prenup, and its legal validity in Australia.
Prenuptial Agreement
A Prenuptial Agreement, also known as a Prenuptial or Ante-Nuptial Agreement, is a contract that two people sign prior to getting married. Its purpose is to define their rights and benefits and to settle questions of property division, alimony, and/or inheritance if the marriage ends because of death, separation, or divorce. It allows the signers to protect assets that they had acquired prior to the marriage. Without such an agreement, current state law requirements will determine these matters. An agreement simply allows the couple to follow their own rules, in as much detail as they wish A similar agreement called a postnuptial agreement is signed after a couple is already married. Domestic partners may also have a cohabitation agreement.
Why Prenuptial Agreement?
Getting a prenuptial agreement is particularly important in these 8 cases:
1. You are much wealthier than your partner. A prenuptial agreement can ensure that your partner is marrying you for who you are, and not for your money.
2. You earn much more than your partner. A prenuptial agreement can be used in many states to limit the amount of alimony that is payable.
3. You are remarrying. When you remarry, your legal and financial concerns are often very different than in your first marriage. You may have children from a previous marriage, support obligations, and own a home or other significant assets. A prenuptial agreement can ensure that when you pass away, your assets are distributed according to your wishes, and that neither your first family, nor your new family are cut off.
4. Your partner has a high debt load. If you are marrying someone with a significant debt load, and don’t want to be responsible for these debts if your marriage ends, then a prenuptial agreement can help ensure that this does not happen.
5. You own part of a business. Without a prenuptial agreement, when your marriage ends, your spouse could end up owning a share of your business. Your business partners may not want this to happen. A prenuptial can ensure that your spouse does not become an unwanted partner in your business.
6. To prevent your spouse from overturning your estate plan. A prenuptial agreement can ensure that you estate plan works, and, for instance, ensure that a specific heirloom remains in your family.
7. You are much poorer than your partner. Just as a prenuptial agreement can be used to protect a spouse who is well off, a prenuptial can also be used to ensure that the partner who is weaker financially is protected.
8. If you plan to quit your job to raise children. Quitting your job will negatively impact your income and your wealth. A prenuptial agreement can ensure that the financial burden of raising the children is shared fairly by both partners.
Is Prenuptial Agreement only for Wealthy?
Prenuptial agreements are not just for the wealthy. Many couples do not realize that a marriage merges assets automatically. Any two people with homes, stocks, retirement funds, a business or children from a previous marriage should consider getting a prenuptial agreement.
prenuptial agreement
http://www.netlawman.com.au/family/pre-nuptial-agreements.php
pre nuptial agreement
http://www.netlawman.com.au/family/pre-nuptial-agreements.php
pre nuptial agreements
http://www.netlawman.com.au/family/pre-nuptial-agreements.php
prenuptial agreements
http://www.netlawman.com.au/family/pre-nuptial-agreements.php