Prenuptial Agreements – The Basics

Please note that this article does not provide legal advice. It is for information purposes public interest law reddit only. Before putting together a prenuptial agreement, consult an attorney.
This article discusses the basic of prenuptial agreements, including what they can and cannot do, as well as what the usual purposes of these agreements are. “Prenups” are not simply cynical plans to cheat a future spouse. Everyone hopes that marriages will last for the rest of the couple’s natural lives. However, everyone knows that they do not always end that way. They help couples protect assets in case the marriage ends.
Prenuptial agreements are signed for the purpose of deciding what will happen to assets that each of the husband and wife have in the event of the dissolution of the marriage. Note that this dissolution list of business laws in india can include death as well as divorce, as someone can agree not to make claims on certain property, even in the event of death. They can even be effective when there is no divorce.
In general, prenuptial agreements apply only to assets that people have when they enter into the marriage, not the assets that they make after the marriage. Rights to assets made during the marriage cannot in general be signed away. Agreements are especially common when there are assets set aside for the children of previous marriages.
Prenuptial agreements cannot cover everything. In fact, it is impossible in a prenuptial agreement to make any commitments to or not to take care of any minor children that are the result of the marriage. For example, a prenuptial agreement that stated, “I agree to give up custody of the children in case of divorce,” would simply not be valid (and it might even invalidate the entire agreement. There are some rights that cannot be signed away, and one of these is the right to custody of a child.
Another important part of any prenuptial agreement is what is called “disclosure”. Before entering into an agreement, both parties must fully disclose the extent of their present assets. If they do not, it could potentially invalidate the entire contract. For example, if someone hides that he has thirty million dollars in a bank account and pretends to be a pauper, then signs a contract saying, “No past assets shall be distributed in case of divorce,” it would likely invalidate the entire contract. People simply can’t sign away rights to property that they don’t know exist.

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