Monday, November 17, 2014

What Is a Prenuptial Agreement

There are two ways to define a marriage. One of these is having a legal agreement between two persons stating that they will be in the relationship as husband and wife permanently and together raise their own family. The other way is that it will be a sacred matrimonial ritual or ceremony.

In slang terms, a prenuptial agreement is also known as a prenup. This agreement is made before the couple is married. The agreement includes the division of the couple's property and alimony when they decide to separate and file for divorce. Therefore, this type of agreement simplifies the divorce process and equally benefit the two parties who are making one. But before you sign the agreement, there are some pointers that you need to know.

For the prenup agreement to be considered valid, the couple is required to complete a formal agreement in the form of a written document. It should be made of their own free will and without coercion by another. It is recommended that a couple completes and signs their agreement 30 days or more before their marriage ceremony. If the prospective husband or wife was pressured or rushed into signing the agreement, it can be ruled void and inadmissible in a divorce proceeding. The couple is required to declare all of their assets and liabilities in their prenuptial agreement too. Though there is no dispute existing between them, it is recommended that both parties have the final agreement reviewed by independent attorneys to make sure that the terms of the agreement are reasonable and enforceable under state laws. Then the prenup agreement must be signed by the prospective husband and wife. Their signing of the agreement must also be witnessed by two persons who then also sign the agreement.

Not only does a prenuptial agreement compel couples to deliberate the marriage's implications financially, they can also lessen the conflicts when the marriage ends in divorce. Those couples who have gone through a divorce having an agreement will attest that it is less expensive for both of the parties since there are fewer conflicts while in the process of dissolving their marriage.

That is not the only benefit of this type of agreement. In the event of death during the marriage, a prenup also protects the portion of money and property that has been bequeathed in a person's will to family or friends.

When you have decided that you want a prenuptial agreement to protect your interests, the best thing to do is to communicate your feeling to your fiancé and to help them understand this type of agreement is used to protect both of you.

This article was brought to you by Richie Hill on behalf of Legal Forms, a provider of low cost legal forms. You can download your state's prenuptial agreement or power of attorney form at their Website, fill in the blanks on your PC, and then print it out. It's that simple!
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