WHAT ARE THE PROS & CONS OF PRENUPTIAL AGREEMENTS?
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Matrimony is a spiritual bond as well as a legal agreement. In the US, a couple becomes a financial and legal partnership when they choose to become husband and wife. This component of marital finances has the potential to be both beneficial and harmful. Prenuptial agreements are useful in such situations.
Prenuptial agreements, or "prenups," are legally binding contracts between soon-to-be spouses that specify, in the case of divorce or death, how their property and obligations would be distributed. They've been hotly contested for years, and people have quite different beliefs about them.
The Pros of Prenuptial Agreements
Preserving their assets is a primary motivation for entering into prenuptial agreements, especially in the US, where there is a high divorce rate. An individual's independent property, including their inheritance, business interests, and other assets acquired before to marriage may be protected via a prenuptial agreement.
Precision and Certitude:
Clarity and predictability about financial concerns inside a marriage may be achieved by a well-drafted prenuptial agreement. Divorcing couples may save time, money, and emotional energy by working out the details of their property division in advance of filing for divorce. In community property states like California and Texas, marital assets are normally shared equally unless otherwise indicated, therefore this is very significant.
Prenuptial agreements have the potential to shield one party from liability for the obligations of the other. One spouse may leave the other financially accountable for the obligations of the deceased or divorced spouse. By putting this in a prenuptial agreement, each spouse may assume responsibility for their own obligations.
Contracts for Living Together:
Cohabiting partners may utilize such contracts to lay out the financial ground rules for their time together and the dissolution of their relationship. Domestic partnership and cohabitation contracts fall under this category.
Security for Companies:
In the case of a divorce, it may assist ensure that company ownership and control are maintained. A divorce might result in the sale or interruption of a corporation if a prenuptial agreement has not been established.
Preparing for an Inheritance:
A prenuptial agreement may protect an individual's inheritance from being divided after a divorce. This will be quite beneficial for those who are going to get a large reward. This might be particularly crucial in high-net-worth residences when large sums of money are at risk.
To Defend Precision:
In the event of a divorce, a prenuptial agreement might lay out the provisions for spousal maintenance (alimony). This enables couples to decide on the quantity and length of support payments, giving financial stability and decreasing disagreements in the case of a divorce.
You may tailor your agreement to your specific situation. They are flexible and may be adapted to the wishes of each individual couple. Because of this wiggle room, they may meet specific budgetary and family needs.
Prior to marriage, agreements are private. Prenuptial agreement details are not made public, unlike divorce settlement details. This may be a highly alluring choice for those who like to keep their financial transactions secret.
The Cons of Prenuptial Agreements:
This agreements has a lot of negative connotations because of how unromantic they seem with many people. Some individuals are concerned that discussing divorce before to marriage might sap the romanticism in the union. It's a delicate matter that requires careful handling.
Agreements are often a contentious issue for newlyweds. Disagreements and resentment may arise when partners discuss money, particularly if one partner is substantially wealthier than the other. It might put a strain on the relationship if not handled properly.
Some spouses have moral questions about prenuptial agreements. The final agreement could not accurately represent the interests of the opposite party if one side has a significant advantage in negotiations or legal knowledge. A court has the authority to invalidate a contract if it deems it to be unconscionable.
Creating a valid prenuptial agreement may be expensive and challenging because of legal constraints. Each party usually has their own attorney analyze the agreement before signing, but that inflates the costs for no reason. Due to the time and resources required, some couples opt out of getting a prenuptial agreement.
Controversial Case Law:
People often think that prenuptial deals can't be broken. If a contract isn't properly carried out or has unfair or illegal terms, it can be contested and could be thrown out. Because of this, it is very important that you get help writing your prenuptial agreement from an experienced team of trust and corporate experts to avoid that you would fall in the future into the family court trap of being “taken to the cleaners” and your children being literally being “stolen” from you by a crooked family court judge under the disguise of the “best interest of the child”…
Don’t be fooled by dirty tricks of family law lawyers, who set you up to fail as they work “hand in hand” with family court judges at all times to strip you of your hard earned assets, using your children as “weapon” against you.
Our Blockchain Trust prenup and separation agreement solutions provide you a “bullet proof vest” which does NOT allow any family court judge to declare “jurisdiction” over you, your spouse, your children or your assets.
Future outcomes cannot be predicted:
A prenuptial agreement may spell out the division of property and debt in the case of divorce or death, but it can't foresee or stop such events from happening. It's possible that a prenup won't cover every possible contingency, for as if one partner suddenly becomes incapacitated or loses their employment.
Young People's Hobbies:
While prenuptial agreements might insulate children from prior marriages, they can sometimes have unforeseen effects. A prenuptial agreement that disinherits one spouse in favour of the children might be challenged in court.
Powerful Impacts & Protection on Child Custody Issues:
While “regular” prenuptial agreements might be useful for settling financial concerns, they have far less sway over questions of child support and custody. When making decisions on child custody and maintenance, the power hungry family courts will always look out for what's “best for the child” or better yet for their wallet’s… as the “Divorce Industry” is a $50 Billion Dollar PROFIT CENTER per year for the family court system across the USA.
Our Blockchain Trust Prenup and “Separation Agreements” provide you and your family a “bullet proof shield” which does NOT allow any family court judge to declare “jurisdiction” over you or your children. You and your spouse will always be fully in charge for your children as Trustees of your Blockchain Family Trust.
Both you and your spouse will have 50/50 custody of your children, as a family court judge is NOT allowed to access the assets of your Blockchain Family Trust, which includes your children as beneficiaries of the Blockchain Trust.
To protect your and your children's future, register your Blockchain Family Trust today including your Prenuptial Agreement and your Separation & Trust Agreement.
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