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Prenuptial Agreements
By
David Day |
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Today, it is not uncommon for newlyweds–who may be said to enter into a
marriage contract–to enter into another kind of contract known as a
prenuptial agreement. This type of contract is commonly used by those
entering second marriages as well. Older couples who have accumulated wealth
which they desire to leave to children and grandchildren upon death rather
than to a future spouse may also desire prenuptial agreements. These
agreements may hardly seem romantic, but they do encourage discussion of
intentions for dividing property, altering inheritance rights, limiting
spousal support, and gaining an equitable share in a business if the marriage
ends. Anticipation of these potential problems helps reduce the likelihood of
future litigation.
A prenuptial agreement protects assets and property acquired by spouse before
marriage, as well as reflects intentions for the disposal of marital and
non-marital property acquired during the marriage.
In my experience, a prenuptial agreement requires the parties to put aside
their emotions while the agreement is being initiated. While some feel a
sense of "distrust" if their beloved requests such an agreement,
often times that is not the case. In fact, a well planned and well drafted
prenuptial agreement and eliminate on the front end much distrust and replace
that with a clear understanding of the assets and responsibilities of the
parties. |
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