Prenuptial Agreement

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Prenuptial Agreement

A prenuptial agreement is a document, the components of which revolve around the matrimonial settings which are to operate in post marital period. This sort of an agreement is entered between two individuals contemplating marriage. The prospective groom and the bride have to make certain promises and agreements before tying the knot. This attempt is made in order to bring in peace, harmony and security in marriage. The economic aspects are underscored mainly in this contract that is very crucial to the stability and well being of a marital relation. Since divorce rate has accelerated, prenuptial bonds have gained increased importance whereby the property divisions and allocations are preset and the parties are entitled to only that much portion of the property bank as preordained in the document.

Most countries of United States recognize the importance of prenuptial agreement between would-be partners. It is enforced by professional lawyers who are hired by the parties for this purpose. The contract is a doorway to a secured future even when any of the parties expire or they split up legally. Thus, the five most important features of the bond are:

1. The agreement is published and not accepted in verbal terms.

2. The agreement is intentionally made out of personal will.

3. The agreement is exposed to the parties at the time of its operation.

4. The agreement is fair and is justly executed without giving unjustified preference to any one party.

5. The agreement is recorded between the parties exactly in the manner prescribed by the court.

Certain issues that should be remembered while striking up a prenuptial agreement are given in the following:

  • The parties should talk and decide about the necessity and use of the agreement together by confronting each others’ demands and requirements.
  • Once it is settled, a marriage counsellor or lawyer may be appointed who crafts a watertight document which remains impervious to changes and amendments.
  • The outline of the property and personal assets should find place in the article as the details are required for making the allotments.
  • Specification regarding the repayment of loans and debts should be made for the parties to know their duties in such a case.
  • The amount of compensatory fees and services should be clarified that would help during deliberation regarding annulment of marriage.
  • It should also proclaim the punishment structure of the person guilty of infidelity or violence in wedlock.