About Pre-nuptial Agreement
Pre-nuptial agreements are sometimes referred to as a pre-marital agreement or more commonly known as a ‘Pre-nup.’ A pre-nuptial agreement is drawn up by couples who want to marry, but also want to plan for the unexpected.
The last thing on anyone’s mind when getting married is preparing for a divorce, but a prenuptial agreement doesn’t guarantee divorce, it guarantees security.
The agreement deals with the couples assets in the event that the marriage breaks down by separation or divorce to avoid any unnecessary disputes or unfair settlement.
When you take out a Prenuptial Agreement you are declaring to each other that you want your marriage to be based on fair and equal grounds.
Taking out a Prenuptial Agreement is wise financial planning and can include:
- The rights and obligations of each partner concerning any property
- What will happen to life insurance, pensions and other policies
- Any matter which regards personal rights and obligations
A Prenuptial Agreement can also highlight issues that many couples overlook as potential causes of friction in the event of a separation, such as:
- Practical matters like joint accounts
- The provisions of a family business
- The provisions for spousal support
- Division of personal possessions
- The disposition of property
A pre-nuptial agreement recognises the sanctity of marriage, but is put in place to ensure you get what is rightfully yours, should the unexpected occur.