Most people consider a pre-nuptial as a defence against a worst-case scenario. They think that a prenuptial is all about division of assets, because one of the wealthier partners is looking for protection. But this isn’t the case. In fact a prenuptial need not be based on a couple’s income or assets.
In reality a prenuptial is a couple’s way of entering a relationship in an open and trusting manner. This is the time to indulge in open discussion because couples are usually most in love when they are planning to tie the knot or move in together. It’s not in any case related to the time when the two of you might be in argument and wouldn’t be seeing eye to eye because each of you has become too disillusioned.
A prenuptial pertains to division of assets which each partner is bringing into the marriage. Plus it also helps deal with assets which the couple have bought together. Plus it also deals with another major obligation which all couples face: debt.
People from the lower income group who are in a relationship may be under debt. These could be college debts, alimony or child support from a previous marriage. The wisest decision which couples would make is that how these debts can be separated and who would be paying for these debts. It should also be observed how this would affect the joint income of the couple.
A prenuptial is a binding contract which is open to amend in case there is a change in scenario. Some of the best lawyers are of the opinion that in case the couple decides to separate a prenuptial can make things easier and quicker. Usually there is no debate over division of assets and the result is an amiable separation which benefits both parties and costs as little emotional damage as possible.
There are several other thing which can be covered in the contract. For example if the couple belong to different religions, the prenuptial can state in what manner or religion the children would be brought up. Though couples can have their discussions without a prenuptial as well but seeing those written down give them a more concrete structure.
Getting to know what both of you as a couple wants can help things progress in a more understanding manner. When a couple is so in tune with one another’s decisions, the marriage is fruitful and there are less chances of any misunderstandings.
There are many other benefits of going for a prenuptial agreement according to family solicitors in Gold Coast. These include
- It can help protect the inheritance right of children from a previous marriage
- It can help protect a business which is owned solely by one individual in the marriage
- For someone who I giving up their career to be with their partner the prenuptial proves to be a sort of a protection of their financial rights.
For more information on prenuptials contact family solicitors in Gold Coast.