How To Deal With Prenuptial Agreements

Prenuptial agreements are becoming more common than most people assume as both parties tend to work and their own assets are much bigger. But depending on the issues that you want to tackle or the points that both parties need or want to agree on, a prenup can be a different scenario for each marriage. Getting your own legal representative If you already have a family lawyer in Singapore, then you can draft the prenup with them and require the services of a specialist in prenuptial agreements for the legal presentation in court (assuming your attorney is not specialized in that field). Having your own attorney to represent you is essential and in cases of conflicts of interests, a shared counsel can bring in more complications. You cannot draw up or agree to a prenuptial without a legal counsel as in the case of a lawsuit, the other party can accuse you of not having proper legal presentation (which will result in an annulled prenup). Dealing with the different ownership titles The different types of properties you may have before the wedding will have your ownership declared unless you plan on sharing that property with spouse. But in the case of buying property with spouse during the course of the marriage, can bring up complexities in the cases of a settlement, according to divorce lawyer statements. A prenuptial should always clearly demarcate the types of different properties owned by each spouse and the ownerships of these properties (whether single or joint) to be settled properly in case of a settlement. Business titles and rights If you own a business, and in cases of family successions, you will have to draft up different methods you hope to address in case of marriage disseverment, accidents, and other misfortunes. Your prenup will have to show the person to give the business ownership and succession to, along with the family succession line if needed. Assets, debts and savings Most people tend to have their own separate savings accounts and also assets. In the case of marriage, both parties will have their own family and personal assets and also debts which can be an issue in the long run. In the prenup you can draw up whether each party will deal with these on their own with personal legal representatives or whether to share with spouse. Joint purchases also need to be addressed properly in the prenup to make sure of a less complicated separation, if it comes to it. Essentially, a prenup needs to showcase what you both have, good and bad, and give different measures for dealing with them in the case that the two married parties separate. Make sure to hire an attorney who can represent your needs properly and can address any issues that might come up successfully.

Anthony Hurst

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