Marriage is a significant turning point in your life and it brings a lot of change with it. Many people tend to think with their hearts when going into this endeavour but you should also consider the legal ramifications of marriage. While nobody wants to think of separating from their beloved partner later on, this is something that you should consider seriously. Not thinking about this can lead to a lot of issues later on.
You can look for family lawyers Fortitude Valley when selecting a specialist to advise on financial planning. They will have the legal expertise to create a prenuptial agreement. And this will be drafted based on the legal requirements of the state. They can guide both you and your partner on which terms will be enforceable. If you already have a significant amount of assets and property before marriage, you can take this extra step so that there is clarity on how these assets will be divided if you and your partner were to separate. And as a couple that is embarking on a new stage of life, you will both have the other party’s interests in mind so this will be the time to create an arrangement that is fair to both parties. In the event of a divorce, you may not feel any goodwill towards your partner and this can get in the way of settling an agreement. And if you are not able to settle things out of court, you will need to consider litigation which is a lengthy and expensive process.
Divorce is an emotionally taxing time
And it will be made all the more difficult when you have a lot of legalities to sort through such as dividing properties, deciding on spousal support, child support etc. So many legal issues can be avoided when you start with a prenuptial agreement. Your lawyer can make sure that the agreement is executed properly. They will ensure that all legal requirements are met in the drafting of the agreement so that it is legally binding. And this will give both you and your partner some peace of mind as you have both prepared for the worst to come. When you have a prenuptial agreement arranged, this can save you money and time in the long run if you were actually to get divorced.
While not many people think about separation,
It can happen as some people will find out their differences are too vast to find common ground. And sometimes people tend to drift apart after some time. You may have pre-existing debt when you enter into the marriage. And it can be difficult to decide how this can be settled during a divorce. But when you have a prenuptial agreement that is drafted properly, you can have a better idea of how this debt can be managed. You can also ask your lawyer to advise you on how you can avoid joint debt during the marriage. And if you own a business, the prenuptial agreement will help protect your business interests.
