The answer is not a simple yes or no. The truth is that no one can simply make this decision for you, but what they can do is offer you all the information regarding an antenuptial contract so that you are able to make an informed decision regarding your marriage. This decision will be based on various factors. This includes whether you and your partner both think this is the right thing to do. Many people will claim that by having an antenuptial agreement it means that the other person thinks that the marriage will fail. That is not the case at all. It is better to have something and not need it than to need it and not have it.
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What Is an Antenuptial Contract?
An antenuptial contract is most commonly referred to as a prenup. This contract will be drafted and processed before the marriage of the two partners. This contact is to exempt the marriage from falling under a marriage with community of property. This contract will define a variety of provisions of the marriage, including the sharing of assets in the event of divorce or death. This usually states that each spouse will retain their property and use it as they see fit. Your antenuptial contract can include or exclude the Accrual system. This will be at the discretion of the couple.
The Benefits of an Antenuptial Contract
There are a variety of benefits to having this contract as part of your marriage. Firstly, each spouse will be able to retain their own financial identity. Secondly, if one spouse is declared insolvent, the other spouse is able to retain their assets. Thirdly, the contract is customizable to the needs and requirements of the couple. Lastly, if there is anything that is sentimental that one spouse does not want to share, they do not have any obligation to.
Simpson Incorporated Attorneys and Conveyancers
An antenuptial contract is designed to offer protection separation of assets in terms of the marriage that the couple sees fit. It is not necessarily the right thing to do for every couple. That is up to the discretion of each individual. Be sure to receive the best professional and legal advice regarding your antenuptial contract, be sure to contact Simpson Incorporated Attorneys and Conveyancers today!
