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The Real Value Of A Pre-Nuptial Agreement
A pre-nuptial contract is a move to pre-empt long and acrimonious litigation if and when the marriage fails. Pre-nuptial Agreement are currently rather popular with couples contemplating marriage.It must be clarified that the pre-nuptial agreement deals only with marital property, that is, all wealth accumulated by the couple after marriage. It has no jurisdiction over assets owned by the spouses before their wedding. These continue to be their personal property and are not subject to division in case of divorce.
Entering into a pre-nuptial agreement may seem offensive at first, as it implies the marriage may not last. However, in the long run, it avoids much bad blood and deprivation. The agreement ensures that the break-up is clean and amicable. There is clarity among partners about their financial rights and limits.
What a Pre-Nuptial Agreement Contains
A pre-nuptial agreement has the authority to deal with financial matters only. It cannot include any arrangements for the custody of unborn children. There is a different set of laws governing child custody issues and any specification to this effect in the pre-nuptial agreement is invalid.
The main purpose of the pre-nuptial agreement is division of property accumulated by the couple during their marriage. This is especially significant if there is a financial imbalance between spouses and one partner brings substantially more wealth to the marriage. If one or both of them have pre-existing businesses, the pre-nuptial agreement may have provisions to exclude their assets from the divorce litigation.
The contract usually lays down how much alimony, if at all, has to be paid to a spouse in case of separation. The spouses can unburden each other from this responsibility or reduce the payment amount significantly. The women are generally the ones to lose in such cases as they often need financial support after divorce. Some countries disallow women from waiving alimony in pre-nuptial contracts.
If a spouse already has children from a previous marriage, a pre-nuptial agreement is quite useful in protecting their financial interests. It specifies the assets that have to be passed on to them after the death of the parent.
Online Pre-Nuptial Contracts
After years of scepticism towards pre-nuptial contracts, the courts have now begun to show a grudging acceptance as acrimonious divorces become common. Though they do not carry as much weight as other legal contracts, there is a general acceptance that if drafted the right way, pre-nuptial agreements can reduce the conflict in divorce settlements by preventing an unfair outcome for any one partner.
To sign a pre-nuptial contract, you need not hire a solicitor and pay through your nose. You can actually draft a professional, legally-valid contract sitting at home, at a fraction of the price that high-street layers charge. This is possible because of the services of various online companies offering pre-nuptial agreements on their websites.
A Web search reveals dozens of companies offering expert advice and readymade formats for such agreements. Once you have made an online payment, you can download on a questionnaire on to your computer. The questions are similar to those asked by a solicitor in a face-to-face meeting. Each question comes with an explanation as to its significance as well as helpful tips to guide you to the right answer.
The questions relate to:
- name and address of future husband and wife
- a list of their properties
- the properties they would like to keep separate and not divide after a divorce
- the proportion in which shared property will be divided
- a list of debts of both the parties
- separate debts for which their spouse will not take responsibility
- distribution of shared debts
- details of dependent children from previous marriages
- whether alimony is to be paid and to whom
- if yes, then will alimony be paid all at once or in monthly instalments
Once you have carefully answered all questions, you have to log in to the company website and submit the completed questionnaire. The company’s legal team then goes through the information you have provided, drafts the pre-nuptial agreement and delivers it to you in a day or two for your approval and signature.
Such pre-nuptial agreements are backed by the knowledge and experience of company experts. They ensure that your agreement is written in a way that would withstand scrutiny by the court. You are also advised about clauses that make an agreement legitimate and factors that would make it invalid.
Online pre-nuptial agreement is a quick and easy way to legally secure your rights and responsibilities from the comfort of your home and at a much lower price compared to what a high-street solicitor would charge.