Protecting Your Assets with a Prenuptial Agreement

By: Toby King

By simple definition, marriage is a legal contract for a man and a woman to live together and start a family. The wedding day is always one of the biggest highlights in the life of an individual and so it deserves the most careful of preparations. As the number of divorces continue to grow in our times, it has become very important for couples to strengthen their relationships after the ceremony.

Now one of the most essential preparations before entering married life is to have a prenuptial agreement. Although some people frown upon the idea and think that this is only for the purpose of getting ready for divorce, this is merely nothing but precautionary measures.

As stated earlier, divorce happens. This is a truth marrying couples have to deal with whether they like it or not. While most partners generally enter into marriage with the intent of spending their life together, the consistent increase in divorce figures is a cause to be alarmed. Again, adequate preparation should not be neglected - especially before tying the knot.

You will need this kind of contract if you own or earn more than your future spouse. Also, this is very essential if you are remarrying.

Here are two crucial pointers for you to do this successfully:

1. Talk with your partner in advance.

Instead of waiting until about one week before the wedding, it's best to talk about the topic early on. Ideally, matters should be settled at least soon after engagement when the relationship has matured enough.

This is the most excellent opportunity to talk about things and to evaluate what you both understand about such an agreement. A lot of false information has spread about this and so it is helpful if you will take the time to learn its factors together.

2. Work with a trusted lawyer.

To receive proper guidance and legal counsel as you proceed to form an agreement, seeking the assistance of a competent attorney plays a big role. It's nice if you already have a lawyer in mind. If such is the case, then give the legal professional a call to arrange for a time when you can visit his office together. Sit down with the lawyer so you can ask questions and share openly about what you want to happen.

Also, be honest when the attorney asks for the details regarding your individual properties. This is the only way for you to fully take advantage of the agreement's terms and conditions. There have been instances when some prenuptial agreements have been considered null and void when it was found out that one or both of the partners were dishonest about disclosing the reality regarding their assets.

By following these simple suggestions, you and your future spouse will have the peace of mind that you need. Both of you will be in total control of the situation in the moment that divorce becomes inevitable. This is a wiser move than letting the government make the decision after attending a series of court proceedings.

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Toby King is a legal consultant and associate, working for a prestigious law firm in Sydney. He provides expert advice on corporate and personal legal concerns like property settlements and financial and accounting services. You can find additional details about prenuptial agreement at Clinchlongletherbarrow.

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