Prenuptial Agreement Business Law Definition


A marital contract, a premarital contract or a pre-marital agreement (commonly known as Prenup) is a written contract entered into by a couple before the breakdown of marriage or a civil union that allows them to choose and control many of the legal rights they acquire at the time of marriage, and what happens when their marriage ends in death or divorce. Couples enter into a written pre-retirement agreement so as not to enforce a large number of national marriage laws that would otherwise apply in the event of divorce, such as laws governing the sharing of benefits and pension savings, and the right to seek support (marriage assistance) with agreed conditions that provide security and clarify their marital rights. [1] A pre-marital contract may also include waiving the right of a surviving spouse to invoke a voting share in the deceased spouse`s estate. [3] The laws differ between the two states and the countries, both in terms of the content they may contain and the conditions and circumstances, conditions and circumstances under which a matrimonial agreement may be declared unenforceable, such as. For example, an agreement signed in cases of fraud, coercion or adequate disclosure of assets. There are several ways to attack a marital agreement in court. These include lack of volunteerism, lack of scruples and lack of disclosure of assets. [39] In all U.S. states, it is not permissible to address issues relating to children of marriage, particularly custody and access issues. [40] The reason is that children`s issues must be decided in the best interests of children.

[41] However, this is controversial: some people think that, as custody disputes are often the worst part of a divorce, couples should be able to settle this in advance. [42] These conditions are set out in Article 1466 of Thailand`s Civil and Commercial Code. In accordance with Thai marriage laws, the matrimonial agreement focuses on the assets and financial consequences of marriage and sets the terms of ownership and management of common personal and concrete property and the eventual division of marital property when the marriage is dissolved. The marriage agreement also contains a list of each party`s personal property at the time of marriage and ensures that debts and property prior to marriage remain in the possession of the original owner or debtor. Personal property includes: Premarital mediation is another way to create a marital agreement. In this process, a mediator facilitates an open discussion between the couple on all kinds of marriage issues, such as expectations regarding post-birth work and savings and spending styles, as well as traditional pre-marital discussions on real estate sharing and spousal assistance when the marriage is over.

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