Having to sign a prenuptial agreement or a prenup may not sound romantic but it is a practical solution when you want to lay down all your financial cards on the table before you sign the marriage contract. A prenuptial agreement is a legal contract signed by a couple before they married. It spells out and specifies the properties of each of the couple, and would these would properties be after the marriage. It basically handles the property and financial issues in the event that the marriage will end up in divorce.
A prenup may sound ruthless, but you have to consider the fact that about one-third of the marriages in Australia end up in divorce. That is why it is prudent to secure your finances before you take a plunge in marriage life. You don’t want to end up heartbroken and penniless.
So, how do you make a prenuptial agreement?
You can visit lawyers in Fremantle to draft a prenuptial agreement for you, or can draft your own prenup agreement on your own. Remember that a prenuptial agreement is a legal document, so it should be professionally drafted and it should be within the scope of the law. It is important that each couple has their own lawyer to represent their interest. It is not advisable that couple have the same lawyer because it could cause a direct conflict of interest.
When hiring a lawyer in Fremantle to represent you, make sure that the attorney is qualified and specializes in marriages and prenuptial agreements. During the drafting of the prenup, make sure cover all financial issues that could influence your marriage life such as current assets and liabilities, outstanding debts, expenses, whether you will have share bank account or a separate one and other things that involve finances and property. It is a good practice, that each person makes a list of his or her assets, income, expected future gains, and debts. Failing to disclose all your financial information during the prenuptial agreement can invalidate the prenuptial agreement when challenged in court.
The last step in making a prenuptial agreement is to make it official. A prenup should be in writing and it should sign by both parties. In some, it would require a signature of a witness or two. And lastly, it should be notarized.