clarity and predictability
A prenup agreement, wedding agreement or premarital agreement, is basically a legal written contract entered into between a married couple before marriage or a lawful civil union that allows them to control and restrict many of their common legal interests and entitlements as a couple. The term prenup comes from the word prenup, which means to marry. Prenuptial agreements may cover a wide variety of issues such as children, properties and assets, and even estate planning; all of which can be quite sensitive topics for discussing and signing a legally binding contract. When used as a guide, Prenuptial Agreement provides all parties involved something to look forward to in the future, with clarity and predictability.
Prenuptial Agreement is one of the most important steps to take in planning and executing your future together as a married couple. It is extremely important because it legally binds both spouses and ensures that no one can disinherit either of them. Prenuptial Agreement is also referred as prenups, and is an agreement that is drawn up prior to marriage that outlines all financial aspects of a potential union. Prenuptial Agreement is drawn up by a lawyer or attorney and is usually done in consultation with independent legal advice from your spouses’ divorce lawyers. Independent legal advice is typically sought after a Prenuptial Agreement is drawn up, because while it covers all the major financial areas of the marriage, it does not protect your individual financial interests at this time.
Prenuptial Agreement is highly specific
Prenuptial Agreement is essentially a contract that outlines and authorizes each spouse’s respective legal rights and responsibilities. Prenuptial Agreement is drawn up between the two parties (witnesses) and is legally binding on both parties. Prenuptial Agreement is made according to one party’s will, and if it is contested, then a judge or lawdepot must decide in favor of one party or the other. Prenuptial Agreement can be in the form of a standard contract, a standard lease, or a prenup. The language contained in Prenuptial Agreement is highly specific and is written to protect the interest of both the bride and groom.
Prenuptial Agreement is important in the case of prenuptial agreements and in the case of separation. Prenuptial agreements are standard contracts that outline financial aspects of a marriage, including property and assets. Prenuptial Agreement is drawn up on the basis of certain factors, such as duration of marriage, net worth, dividing of assets, children, child support, child custody and visitation arrangements. Prenuptial Agreement is designed to provide protection for the interests of the bride and groom in their respective marriages, and it is an agreement upon which the bride and groom agree to settle any legal issues that may arise in the course of their marriages.
Prenuptial Agreement to reflect the changes in their marital status
Before entering into Prenuptial Agreement, the concerned individual should consider the various aspects involved in such type of agreement-for example, what debt does the groom have and how much is he already entitled to from his salary? Prenuptial Agreement may also be selected in case there is already existing Prenuptial Agreement between the couple and they may want to update their existing Prenuptial Agreement to reflect the changes in their marital status. In the case that there is already existing Prenuptial Agreements, then it is better to include some additional aspects in the new Prenuptial Agreement. For example, if the bride and the groom have a joint bank account, the couple may want to include that in the Prenuptial Agreement.
Prenuptial Agreement may be drafted in complete sentences or paragraphs. The complete sentence form of Prenuptial Agreement enables both the concerned individuals to understand fully the terms and conditions under the agreement. However, for drafting Prenuptial Agreement, it is advisable to include clauses for securing the future of the marriage by providing financial support or pension to the surviving Spouse after the death of the Bride and Groom. The terms and conditions of Prenuptial Agreement may also be drafted according to other relevant requirements such as those related to property ownership, child custody and child support and other legal aspects. Prenuptial Agreements can also be drafted according to certain rules like those found in the Civil Code of the Philippines or any other applicable law.