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Rights and obligations with prenuptial agreement.

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Prenuptial agreements are like insurance policies. You do the paperwork, and then hope you'll never need it. However, since half of marriages end in divorce within the first seven years, you may want to consider a prenuptial agreement before you walk down the aisle and say, "I do."

Since you could later be engaged in a nasty, costly, and emotionally draining divorce some day, you should consider a prenuptial agreement as a precaution. Below we have given you some information on what is in a prenuptial agreement and whether it could be useful for you.

A prenuptial or ante nuptial agreement is a document signed by two people who intend to be married. It describes their rights and obligations should they get divorced. A prenuptial agreement informs the court how they want their assets and property divided up.

Divorces become messy when parties cannot agree on the distribution of property, such things as the house, the house, stocks, and bonds and whether one party should pay the other alimony, now known as "maintenance" in most states. Assume that the husband has $1,000,000 in his own name prior to the marriage. A properly drafted prenuptial agreement can award that same $1,000,000 to him after a divorce, notwithstanding what he does with the money, such as purchasing a home in joint tenancy or shifting the money into other accounts. Without a prenuptial agreement, the wife might be entitled to one-half of the $1,000,000 or more, depending on the financial circumstances of the parties at the time of the divorce. The prenuptial agreement is a powerful and valuable tool that can favor the husband, protect the wife, or serve both of them fairly. It is a question of circumstances and intentions.

Candidates for prenuptial agreements used to be just older individuals with huge estates that they wanted to protect from gold diggers for their children from previous marriages. Since more millionaires are born every day, the candidate pool is growing by leaps and bounds. Now everybody has something to protect: an unpublished author, the budding inventor, anybody with a lucrative profession or a good idea. So, before you dismiss the idea of a prenuptial agreement, assess your situation in life and your long-term future in deciding whether a prenuptial agreement is right for you.

Consider at length the nature and extent of your present and possible future assets. A prenuptial agreement can be a very simple document running only a few pages that segregates each party's assets owned before the marriage, or it can be a very complicated document that runs dozens of pages because it deals with income and assets acquired during the marriage, the payment of debts, attorneys' fees, alimony/maintenance, and other financial matters. The next hurdle is raising the issue with your intended spouse, a very unromantic event. It helps to get it over with early. Perhaps you could blame it on someone else, such as your parents who may want to involve you in a family business, or possible business partners.

If you have no one to hold responsible, just be honest. Tell your future spouse that you intend to be open, fair, and honest, and the fact that you will be revealing all your assets is a sign of trust. Assure your intended that he or she will be protected during the negotiation procedure and in the prenuptial agreement, and stress that the document is something you feel is necessary and wise before you get married. The most important thing is to discuss it earlier instead of later, so that the degree of pressure before the wedding is mitigated.

Couples do not usually break engagements because of disputes over prenuptial agreements. In almost every instance, the agreement is signed and the parties are married. It is also completely appropriate to state that you will not get married without a prenuptial agreement; case law has indicated that this will not invalidate an agreement if made before the wedding.

The best way to avoid charges of duress or coercion is to tell your future spouse early on that you want the prenuptial agreement. Sometimes, such documents are signed shortly before the wedding, but have been the subject of negotiation for months. A well-drafted agreement will recite the fact that, even though it was signed shortly before or on the wedding date, negotiations began much earlier. It is for clauses like this that you consult experts.

Eventually, a prenuptial agreement will be fashioned so that you and your future spouse both accept it. The terms may not be what you initially envisioned and may not be what your intended would want. But that is the nature of compromise.

Note that Legal Helpmate Corp provides an easy-to-use, quick, and economical online method for creating Prenuptial Agreement (Premarital Contract).

About the author:
Jeffrey Broobin is a free-lance writer on family and finance issues; his main goal is to help people during their complicated period of life.
Website: http://www.legalhelpmate.com
Email: jeffreyb@legalhelpmate.comprenuptial agreement. It is a legal contract that breaks down how assets will be distributed in the event of divorce or death. These documents have been around for thousands of years and are mentioned in ancient records from biblical times. Popular in the Far East and in European cultures when wealthy families protected their wealth that was build over many years. Today prenuptial agreements are used by all levels of culture and wealth to protect oneself, and are designed to protect what they have worked to achieve. So it is becoming more and more common as divorce is at about 50 percent. One of the reasons prenuptial agreements are becoming so popular is people are becoming more enlightened and they don't want the courts to decide according to state law, but to their person desires and financial needs. If there are children in you life you will need to protect them, if you anticipate marriage and there are substantial finances involved. Of course if you have nothing, but are marrying into a wealthy family, you don't want to be in a position where after years of marriage you are left with nothing, which happened more in the past but still continues, if you do not protect yourself. It is not romantic, but a prenuptial agreement can make you feel more loved in the long run, if you are considered with generosity. So you don't have to worry, what would happen to you if your mate dies or a divorce happens. One of the problems with prenuptial agreements if you are the one with the financial resources is bringing it up, to your possible spouse. It is a very touchy situation, but only a fool with considerable resources would marry without one. It could kill the romance and could end the relationship. But if it does, you are better off and have only lost a possible gold digger. You must weigh your words carefully and if your possible spouse really loves you they will understand. A friend of mine anticipating marriage popped the information to his girlfriend and explained he believed they would be together forever, but in case he was wrong he must protect himself, and if he was right and they spent their life together, she would get it all in the end. It is an insurance policy to help reduce problems that could arise if things don't work out. She signed a generous prenuptial agreement, which increased in its generosity over the years, if they stayed together.

About the author:
Jeffrey Broobin is a free-lance writer on family and finance issues; his main goal is to help people during their complicated period of life.
Website: http://www.legalhelpmate.com
Email: jeffreyb@legalhelpmate.com

Article Source: Messaggiamo.Com





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