Avoiding Legal Dispute in Marriage with Prenuptial Agreement
Marriage is supposed to be about all the sweet things in life. A ring, a binding fidelity promise, and flowers are all decorating the hearts of the groom and the bride. It might be the most beautiful moment that can ever happen to a couple.
But if you are a realist, you should have been aware of the possibility for a couple to get a divorce. There are also enough reasons to make a divorce happen almost every day. Disappointment and dissatisfaction are two things that cannot be assured of ahead before they happen. In other words, it does not matter how sacred your marriage vow is, the chance for you to get separated with your partner is always there.
Even worse, if you and your spouse do not understand the risk, separation can leave you both severely devastated. It is better to grow up and get real about marriage. And there is the prenuptial agreement that legally protects each spouse’ right in case of a separation happens.
Here is how you and your spouse can benefit the most from a prenuptial agreement.
Realistically evaluate the individual and shared assets
Marriage is about sharing. But a healthy marriage respects each other’s privacy, including the private assets. By knowing in advance what to share and what not to, a separation will leave only an emotional wound and not bankruptcy.
For a realist, a prenuptial agreement is the true appreciation of the marriage vow. When a divorce is inevitable, the agreement can easily dictate the custody right and property ownership for each spouse.
After you and your spouse are on the same page, you should determine wisely what assets are kept private and which ones are divided in case of divorce. Consider hiring a financial consultant for this matter. He/she can assess your career and your spouse’ to decide the fairest prenuptial agreement.
For custody, it might be more complicated to be arranged in prenuptial agreement because each parent’s state of mind and economy changes over time. The kid is also growing up, and at some points, he/she will determine with whom she/he feels most comfortable.
What can be arranged in advance is the agreement for the child support. You might be divorced, but it does not mean you are not responsible for your child anymore.
Consulting the agreement with family law expert
A prenuptial agreement is best to discuss privately between spouses, and later their families. If it is settled between the two parties, then the next step is to gain legal acknowledgment over the agreement.
Two lawyers representing each party might be necessary. Their job is to assess whether your prenuptial agreement is fair to you and your spouse. For example, a divorce lawyer based in Vancouver can offer you his/her analysis on an agreement point related to asset division. The lawyer will give you information about whether the point can be legally enforced or not.
An unforeseen situation, such as a sudden unemployment or illness, might make you or your partner eligible for spousal support and gain the most substantial portion of the shared asset. A good lawyer evaluates the unpredictables and discusses them with you.
On overturning the prenuptial agreement
In some rare cases, you and your spouse may want to cancel the agreement. For many reasons, it is hard to get a proceeding from the court, especially if the deal has been signed months before the marriage ceremony. So, if you think a prenuptial deal can be done weeks before the D-day, you are wrong.
Being in a rush to make a significant decision raises logical suspicion. By the time the document is signed, it could be that the consignee was under some pressure or threat. In such a case, the prenuptial agreement might be overturned.
In another case, an agreement might be nulled by the court if it is proven that one side has concealed an asset. It is deemed as unjust if the calculation of the shared wealth is counted partially.