Examples Of A Prenuptial Agreement  

Typically, prenuptial agreements can be categorized in three different types, namely Marriage Prenuptial Agreement, Cohabitation Pact and the Prenuptial Agreement Inheritance.

The marriage prenuptial agreement is a practical solution to deal with the problematic topic of finances in a marriage. The rate of couples signing prenuptial agreements is increasing year by year.  These are not just couples dealing with monetary disparity, or couples who have a lot of assets. These are couples who do not want to make their financial status vulnerable in case of a divorce.

The cohabitation pact is a legal agreement between heterosexual and homosexual couples, who have chosen to live together. The agreement allows the individual to ascertain who will keep which specific asset and what will happen to assets that have been purchased jointly if they separate in case they decide to part ways. This is advantageous because it helps to clarify financial commitments. It settles issues like who will pay what and how responsibilities are shared in running the home. However, its limitation lies in the fact that is usually not possible to settle all legal issues that might arise in the future. So, a trust deed setting out property rights and a will is recommended along with this form of agreement.

Prenuptial agreement inheritance is usually signed when there are children from a prior marriage. Within this prenuptial agreement, it is required to outline the provisions of estate division and sharing in the event of death of one partner. This ensures that children, from the prior marriage, are appropriately cared for in the event of death of the biological parent. The prenuptial agreement may outline the waiver requirements of the current spouse in terms of elective shares to one’s estate.

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Examples Of A Prenuptial Agreement
 

How-To-Draft-A-Prenup      It is important to discuss issues once one has decided on drafting a prenuptial agreement. This is because some partners might find it offensive to the idea of signing a prenuptial, especially since the major consideration is a future divorce. More..

 


 

 

 
   
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