Before getting married, family lawyers tend to advise their client to sign a prenuptial agreement to protect their assets prior to the marriage. It is not solely for the rich, but average couples want to safeguard their property and wealth in case of a divorce. This financial agreement is also useful for coming to a mutual understanding of the division of assets. Many reasons are given by couples who consult one of the many family lawyers specialized in pre nuptial agreements.
Many people with children from a previous marriage or out of wedlock work out a prenup so their children’s inheritance rights are protected or that they are continued to be provided with financial assistance due to diseases, mental illnesses etc.
Your business or practice that you have worked hard to build would be protected from the rules of division of property. Your former spouse would not have a stake or involvement in your business after the divorce.
In the prenup you can place limits on the spousal support your former spouse receives after the divorce. Older person in their second or subsequent marriage can protect their finances from their future’s partner’s excessive demands.
Family lawyers encourage their clients to look over the prenup and understand how it affects them after the divorce. People should not agree to the terms without thinking carefully about the future , otherwise they will find themselves homeless and without any financial assistance.
Some people directly ask for their partner to give up on a share of the estate because according to Australian law, even if it is not mentioned in the will, the spouse may be entitled to some part of the estate.
Do you have challenges dividing your properties? Contact property lawyers Adelaide.