A prenuptial agreement, formally known as a contracting-out agreement, may not be on your mind when entering a relationship, but considering the potential challenges of a breakup is a wise long-term strategy. Picture-perfect weddings can unfortunately lead to separation later on. While contemplating divorce may not be current, having a well-crafted prenuptial agreement is like an insurance policy for your separate property. Though you hope never to use it, it serves as a safeguard if the worst occurs. To be binding, both partners must independently seek advice on the agreement. A 'prenup' is utilized when a married couple or partners in a civil union or de facto relationship separate, outlining property distribution.
Prenuptial agreements have a number of benefits including:
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Anyone entering into a de facto relationship should consider a 'prenup' or prenuptial agreement. At Weston Ward and Lascelles we recommend that an agreement should be entered into when;
Younger couples can use a prenup to protect businesses, professional practices, careers, inheritances, gifts and credit. Older couples use prenuptial agreements for the reasons above and also to protect the funds they’ve built up for retirement and to protect their assets for their children from prior marriages.
Take the first step towards peace of mind in Christchurch, contact our expert family lawyers today for trusted, compassionate guidance.