Prenuptial Agreement: An intelligent approach towards martial life

The event of a failure in marriage exposes the couple to a lot of unforeseen liabilities with money and family being on top. At the end of the day, you might find yourself standing at a crossroads with a broken heart and an empty pocket. Now, this was never your idea in the first place, but you could not have anticipated this beforehand either. Times like these call for measures that should have been taken well before saying, 'I Do'. If you're on verge of saying these words and making a vow then a Pre-nuptial Agreement (or a pre-marital agreement) is probably the best idea to consider before entering into wedlock. Just like any other partnership document, a post-marital agreement is also signed to secure individual and joint assets.

What is a Prenuptial Agreement?

A Prenuptial Agreement is a legal contract that is signed between couple before their marriage. This type of pact is signed to protect individual and joint assets of a couple in case of divorce, separation or death. It is carried out with complete mutual consent of both the parties. A prenuptial contract helps both settle all financial aspects in relation to their family, property, marital home, children, expenses etc. It also sets an understanding that both should not hold any claims against each other in the future. This contract promises a fair monetary distribution between the two parties.

In India, prenuptial agreements are not regulated under Indian marriage laws (unlike marriage and relationship agreements), they are pursued under the Indian Contract Act. Although not very widely regarded, the acceptance of prenuptial agreements is increasing given the possible risks and after effects both parties face later. It is but a simpler way of financial conflict resolution on practical terms. Per section-10 of the Indian Contract Act, prenuptial contracts have the same importance as that of any written contract, partnership document or any other agreement.

Some good reasons to sign the agreement

Marriage and relationship agreements surely require a lot of investment from both ends. With prenuptial pacts, you should honestly consider your future plans very rationally. While we agree that money is not everything, we also cannot under estimate the depth to which it is involved in sorting out some very crucial aspects of life. So, it is always a good decision to prevent any room for mess. Here are some scenarios in which opting for a prenuptial agreement can be the right choice:

• If both partners own a joint property (home, estate etc) or a joint business, this agreement can provide a fair division of assets
• If the couple has children, their due rights can be comfortably catered by this agreement to protect their future
• In case one of the persons remarries, this agreement ensures that all related family members are not deprived of their due share in case of demise or divorce
• If you are uncomfortable with the idea of being in debt on behalf of your partner, this agreement can help you secure your position in advance
• If you are much wealthier than your partner, this agreement can help your partner in providing monetary support
• In the case of single parenting, the financial backing provided by this agreement can save a lot of stress

For those who might confuse a prenuptial contract as an opposition to emotional understandings, well these agreements are never intended to question qualitative factors like loyalty and trust. Rather, a perceptual agreement is only a proof of financial protection. It should include all required details like assets owned by each partner and their legal duties. This agreement can be customized to the needs and demands of each partner and both should pursued it on a mutual basis without any pressure.

If you need an assurance of a secure 'Happily Ever After', then this document is for you!

The Pre-nuptial agreement documented by Net Lawman furnishes all financial provisions and includes references to accounts, houses, other property, furniture, children, mortgages, utility bills etc. It states that all property owned by each party (prior to the pact) shall remain the property of that party in the event of separation. It also lists arrangements to settle joint property matters. Subjects such as children rights, matrimonial home and prevention of future claims is also fully covered in this document.

Application and features of this document

• Saves legal overheads such as solicitor's fees
• Suitable for any couple that is about to get married
• Includes detailed notes for accurate interpretation and guidance
• Contains no legal jargon (written in simple English for easy interpretation )
• Back up support and advice available

Contents of this document

This Net Lawman document contains details related to the following main aspects:           

• Assurance of property possession (to remain unchanged) as held by each party before marriage
• Inclusion of the parties’ personal details
• Settlement of joint property (as purchased post marriage)
• Fulfillment of children rights, maintenance and living rights
• Capital calculations and marital home
• Terms of negotiations so to prevent either party from making future claims on each other
• Provisions for additional expenses and costs