A Prenuptial Agreement, often called a Contracting Out Agreement, records how relationship property will be split if you separate, or if your marriage, civil union or de facto relationship ends.
We can advise you on the best course of action for establishing a Prenup.
Having a Prenup can reduce stress when getting married.
While there is an obvious risk around someone who’s just in a relationship for your money, that’s not the only reason to get a Prenup. The Prenup or Contracting Out Agreement can provide clarity around the division of relationship property when a relationship ends.
You need a way to protect your assets for yourself and your loved ones should things head south in your relationship. Prenups are best discussed early and openly in the relationship, as soon as you feel like you want to make a long term commitment to each other. You need to work together to find a way forward, something that works for both parties. Once you agreed in principle to the process, make it happen as soon as possible, leaving it to the day, week, or month before your wedding or union is not enough to time to sort things out. Alimony, debt, property, and assets can be divided up on paper prior to your marriage or civil union, which can save a lot of stress in the case of divorce.
If your circumstances change, you might need to update your Prenup. For example, if you purchase a new property, it’s a good idea to check back in and update your Prenup. A Prenup should be current and up to date.
Having a Prenup means one less thing to worry about when you get married. It’s beneficial for both parties in terms of knowing where they stand if things don’t work out.
Contacting Out Agreements (Prenups) are becoming more popular. If you are not sure if you need one, the best way forward is to give us a call and let’s discuss your circumstances.