Types Of Prenuptial Agreements

Divorce is often considered one of the most traumatic events in a person`s life. However, if you can handle the financial details quickly and by mutual agreement after deciding to part ways, it can take some of the pain out of the process. While prenups and post-ups can be considered valid and enforceable during a divorce, some experts argue that a marriage contract is often the simpler of the two, as it is concluded before the combination of a couple`s assets. Nevertheless, divorce lawyers say that a post-conjuncture contract is better than no deal, especially for couples in second marriages with considerable property or significant discounts. These two documents also clarify issues in the event of the death of a spouse, especially one who brought children into marriage. If you or your spouse have a dwelling (separate or shared), you can indicate in a marriage contract how the property is to be affected. You can decide whether the property should be separated or shared. For example, any spouse may agree to deposit a certain amount of money into joint bank accounts or set a regular expense allowance. Similarly, a marriage contract can determine whether common budget expenses, such as a mortgage, are paid for by separate or joint bank accounts. In India, marriage contracts are very rare and have no laws in force. However, with rising divorce rates, people are becoming more and more interested in it. Some lawyers believe that prenups in India have no legal sanctity. However, in some cases, some form of contract is signed, usually among affluent citizens.

But agreements must be reasonable and not violate existing laws such as the Hindu Marriage Act. Indian courts allow the signing of a settlement protocol during divorces. But no court has yet been asked to impose a prenup. [6] While no one wants to consider divorcing before they even get married, marriage contracts (or pre-marital agreements) must set certain conditions in the event of the end of the marriage. For example, a person with an established family business may try to protect these assets from the other party in the event of a divorce. There are, however, some restrictions, which can be included in a marriage contract. Here`s the reality: If you or your spouse are rich, expect a great inheritance, or enter your second, third, or fourth marriage, divorce or death would not only mean heartbreak, but would also lead to serious financial consequences. . .