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If you are planning to wed soon, then you should consider a prenuptial agreement. A prenuptial agreement, also known as a prenup, is a contract between a couple intending to marry. In most cases, prenuptial agreements outline financial matters during the marriage and property division in case of divorce. Ultimately, it helps the couple have a clear picture of what marriage life will look like.
Below are a few reasons to get a prenuptial agreement.
Below are a few tips to guide you when getting a prenuptial agreement.
Agree with your partner about the prenup.
A prenup must reflect the interests of both parties. As such, discuss with your partner about the benefits of having a prenup. Set your emotions aside and talk about your fears if the marriage does not work.
Consult with a family law solicitor.
Consult with a family lawyer regarding the legality of a prenuptial agreement in your state. For a prenuptial agreement to be legally binding in Australia, the couple must receive legal advice from a solicitor. Further, the solicitor has to provide a statement detailing the consultation process. The family law solicitor will guide you on the various issues the prenup should cover depending on your situation.
Timing.
Prenuptial agreements should not be rushed. Have it prepared a few months before the wedding to ensure each partner has sufficient time to go through the terms of the contract. In Australia, a prenup can be declared void by a court of law if one partner proves that the process was rushed.
Decide the terms of the agreement.
Decide with your partner on what issues you would want covered in the prenuptial agreement. Forcing your partner into agreeing on strict rules could end up making your marriage sour. Therefore, approach this stage with caution and an open mind. Set terms that are fair to both parties.
When considering a prenuptial agreement, agree with your partner on the benefits of a prenup, visit a family law solicitor, prepare it before the wedding and decide on the terms of the agreement.
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