As a rule, marriage contracts include an element of time. Most take effect on the wedding day and last indefinitely. For a variety of reasons, some are designed to come into effect after a certain number of years. Others include a provision that ends after the couple has married for a period of time. A party (or the party`s parents) may want a financial agreement before the marriage due to the presence of family assets. The prenuptial arrangement usually isolates all family property as not being part of the marriage, forever. Result: The family of the future husband feels humiliated and disrespectful and never forgets the rebuff. This is not good for the marriage of the parties, as it will lead to a conflict of the family of origin, which will be present throughout the marriage and will be remembered until death. Simply put, a marriage contract (also known as an antenuptial contract) is a legal agreement signed by you and your future spouse. Usually, they deal with simple financial and legal issues in the event of divorce or death – what do we do with the house, shares, bonds or other matrimonial property of this type? They can also include extras like custody arrangements, spousal support, or even what happens to the family pet. According to Lester Wallman, a partner at the Manhattan law firm of Wallman, Greenberg, Gasman and McKnight and author of Cupid, Couples & Contracts: A Guide to Living Together, Prenuptial Agreements, and Divorce (MasterMedia, $12.95), an agreement can be tailored specifically to the couple`s needs and desires.
Finances are usually paramount, but even the smallest details can be included. “A customer insisted on removing the seat from the toilet,” Wallman says. Although this example is extreme, it illustrates one point: anything and everything under the sun can enter a “prenup”. So, if you feel the need to limit your intended person`s grooming privileges or set a schedule for walking the dog, let it include. Just be aware that such “extras” can be legally opaque and expensive, and should therefore generally be considered more psychologically reassuring than legally binding. While a prenuptial agreement may seem unromantic, some experts say it`s simply smart financial planning. It ensures that your financial affairs are handled according to your wishes and not according to the decision of the state. However, determining whether a prenup is right for you is a very personal decision that should only come after a serious discussion with your partner. Should you have this conversation? What should it cover? Read on. You may also want to discuss a date on which your property will be assessed financially and whether or not this document will have an expiry date.
It may very well be that the concerns you have right now will disappear in a few years – in which case, you can set the contract to change or expire automatically. For example, the agreement could stipulate that a certain amount will be paid if the marriage ends within the next five years. When that time has passed, the contract could see a different payment amount, a new division of assets, or even expire – whatever you deem necessary for your convenience. Keep in mind that all of this is preliminary and you will each need to sit down with your respective lawyers to negotiate a legal and mutually acceptable agreement. But no matter what you do regarding your prenuptial agreement, remember that it`s ultimately for your own peace of mind and that of your future spouse – and that should only do good for your future together. Marriage is considered by many to be the ultimate commitment. Your future spouse promises to put everything into marriage and expects you to do the same. If you recommend a prenup to your fiancé, he or she may believe that you are giving up the dream of “forever” before the marriage has even begun, or that signing this agreement will eventually sound the death knell for your marriage. Despite the widespread belief that a prenup predicts failure, a prenup can really improve your marriage. Despite the many benefits that prenuptial agreements offer, they often have negative connotations. After all, no one is eager to talk about divorce – especially if you`re engaged! State divorce laws can solve the problems of income inequality and property inequality before marriage if and when spouses divorce.
Avoiding a court at the expense of an agreement that makes it more likely that there will be a breakdown of the marriage may not be a reasonable compromise. A marriage contract can clarify the financial rights and obligations of each party during the marriage and the distribution of property in the event of divorce or death. .