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Who signs a Pre-Nuptial Agreement?
Any
person who wants property divided by a different means
to that determined by a Court (relying on the principles
of family law set out under the Family Law Act) will
benefit from a pre-nuptial agreement. Common situations
where pre-nuptials are signed are:
- You
both have significant assets
- You
have considerably more assets than your partner -
for example, the marriage of Michael Douglas and Catherine
Zeta-Jones
- You
own a business - a pre-nuptial agreement can prevent
the distribution of the business and control of the
company to one's former spouse
- You
have children from a previous marriage and want to
ensure that those children retain family wealth
- You
have special circumstances in the family (e.g. caring
for a disabled child)
- You
want to decrease the emotional turmoil that would
ensue with a divorce
- You
want to keep pre-marital assets separate
- You,
the economically weaker bride or groom to be, require
adequate economic protection after divorce
- Upon
marriage, you are blending families - a financial
plan regarding the children are spelled out in the
pre-nuptial agreement
- You
simply wish to have certainty as to property rights
and maintenance payments upon a potential divorce
- You
are concerned about the other party's debt
- You
are foregoing a lucrative career to get married
- You
require simplicity in the divorce process
- You
want to ensure that certain family heirlooms or family
wealth stay within a family upon divorce
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