There was a time when marriage was all about soulmates and sharing a lifelong bond together with each other. However, things have changed drastically and nowadays marriages are no longer solely about love and companionship. Finance and other related matters play a big role in the decision making procedure, which is why couples are increasingly opting for pre-nuptial agreements to avoid any kind of long drawn out court battles in case there is a divorce or separation.
If you are young and just starting your career, a pre- nuptial agreement may not be a necessity, however if this is your second marriage and you have substantial property at your disposal or have kids from the previous marriage a pre-nuptial agreement is highly recommended by family lawyers in Brisbane.
Here are certain points highlighting the importance of a pre-nuptial agreement before marriage
- A pre-nuptial agreement can safeguard the interest of your family and kids from your previous marriage. A pre-nuptial agreement would ensure that your kids receive their due share of money.
- A pre-nuptial agreement can be used to waive your new spouse’s sole right as a beneficiary to your retirement plan. You can choose your children and spouse as the joint beneficiary of your retirement business if you wish to.
- A pre-nuptial can also determine how your funds should be distributed between your ex-partner and present partner and their respective kids. Similarly if you have any debt, you can also specify in which proportions the debts should be distributed among both the members.
- If you have a business, there can be significant disagreement regarding who manages which aspect of the business. A pre-nuptial agreement can also act as a saviour in this department.
- A pre-nuptial agreement not only plays a significant role in the event of re-marriage. It plays a big role when you are the owner of a large amount of property before your marriage and would bring in significant amount of assets along with you when you enter holy matrimony.
- A pre-nuptial is also helpful for couples who have a big age difference or difference in financial status. In such situations disputes are likely to arise often and under such circumstances both the partners would like to protect their financial assets.
Drafting a pre-nuptial agreement is not an easy job. It requires a lot of planning and substantial amount of time and guidance from family lawyers in Brisbane to get the job done. A pre-nuptial agreement requires a lot of effort from both the parties and waiting for the last moment to draft anything simply implies that one or the other party would be the sufferer.
Newwaylawyers.com.au is a well-known law firm in Brisbane, Australia. As a non-profit organisation their main aim is to provide people with world class legal advice at an affordable rate. Newwaylawyers.com.au are providers of specialist legal services to individuals in a wide range of practice areas including divorce, child custody and areas of liability and compensation law, estate planning and other legal laws related to different relationships.