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How does a prenuptial agreement differ from other contracts?
Keithweidman
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Can you get a prenuptial agreement in different State other than your residency?
A prenuptial agreement is between the two individuals and they have their own reasons so they can go to a lawyer in any State to have the prenuptial drawn up.
Does filing a prenuptial agreement keep one spouse's bad credit from attaching to the other spouse?
A prenuptial agreement does not have any bearing on whether credit will be affected.
What is a prenuptial agreement?
A prenuptial agreement is written prior to marriage. It is an agreement by the people intending to marry about the divisions of property and spousal support if the pair end up deciding to divorce.
The Importance Of A Prenuptial Agreement?
A prenuptial agreement is a contract signed voluntarily between two parties who intend to marry. In this agreement, special arrangements and specifications are made regarding each party's assets. A prenuptial agreement is used by couples who are entering a marriage and intend to keep their pre-existing assets solely in their possession. Should the couple later choose to divorce, the assets of the parties will be protected from seizure or division by the other. When two people marry and do not have a prenuptial agreement, if a divorce is sought later, the assets are divided equally or as ordered by a judge. If one party had several assets, such as a house, car and land, while the other spouse had no assets, after the divorce ruling, the spouse who previously owned nothing could be awarded one or more of those assets held by the other spouse. To avoid an undesirable division of assets in the event of a divorce, one party may elect to propose a prenuptial agreement. Any signed and written agreement is considered binding, but for the sake of fully protecting assets, the party desiring the agreement should contact an attorney to draw up the legal forms. There are sometimes exclusions and other specifications that must be listed in a prenuptial agreement for certain things that require a solid agreement; without solidity, the agreement may be permeable for the other spouse to manipulate and obtain belongings. Some couples choose to enter into a civil union instead of formal marriage; prenuptial agreements are binding in these unions also. Prenuptial agreements may include specific instructions about most things, but there are several items that are not allowed to be included. Illegal provisions, those that contribute to the event of a divorce and custody of children are all things that are not allowed to be placed in a prenuptial agreement. Some states do allow specifications to be made about alimony in the event of divorce. Contrary to popular belief, wealthy individuals are not the only type who use these agreements. Prenuptial agreements may be used by anyone who feels they have possessions of value that they want to be protected. Considered a preventative measure merely in protecting one's own assets, a prenuptial agreement is not a tool for creating division or harsh feelings. Couples are encouraged to use these agreements before getting married and consulting an attorney to assist in document preparation.
How does a retired couple who have lived together for fourteen years determine who owns what?
Some married couples who meet later in life have a prenuptial agreement that what is hers is hers and what is his is his (home left to her/him by her/his former spouse; property; investments, etc.) If you did not have a prenuptial agreement and the two people really loved each other once then what one has the other owns. It is wise to seek professional help by a lawyer and both of you should try to be fair. If you have signed a prenuptial agreement then there is no point in fighting it. Providing there is not a prenuptial agreement mature couples, even though they may be breaking up should sit down and list what each wants when it comes to the home; any properties; investments, etc. As far as material things in the home you should come to amicable agreement without arguing over every little item.
Can spouses financially exploit each other?
It would seem to me that, unless there is a prenuptial agreement, both parties would have equal rights to their joint assets.
What is the other spouse is intieled to?
A spouse is entitled to half of all assets in a marriage. The only way around this is to sign a prenuptial agreement before getting married.
How binding is a purchase agreement?
Contracts are legally binding on both parties to them.
What is negotiating contracts?
It is the give and take about the clauses of the agreement. It means discussing the pricing, delivery terms and other aspects of the obligations.
What part does prenup agreement plays at the time of property distribution in divorce?
One way to ensure that both parties receive a favorable distribution is to create a prenuptial agreement prior to the marriage. Assuming that the agreement doesn't overly benefit one spouse more than the other, the court will typically grant the property distribution as outlined in the prenup.
Are prenuptial agreements necessary?
Sometimes when two people marry, one of them is much wealthier than the other. In such cases it may be useful to make a legal agreement concerning the disposition of that wealth in the event of a divorce; it may also be necessary to establish who will inherit it.
How does a contract differ from an agreement?
An agreement is any arrangement that is agreed upon by two or more parties. A contract, on the other hand, is a legal and formal agreement between two or more entities which is enforceable by law.
