Once most of us gets past the marriage proposal, the last thing we’re thinking about is what’s going to happen if it doesn’t work out. That said, it’s important to consider what will happen if the couple separates, or if either party passes away prior to separation, before they get married. While it’s an unhappy thought, getting married isn’t just about the heartfelt declaration of love. It’s a contract of sorts that you’re entering into and with it comes common sense considerations regarding all aspects of both party’s finances.
A couple that plans to be married might not be satisfied by having their community property governed by law or the need for court approval. This is where a marriage contract comes in. A written marriage contract, prepared and signed prior to the wedding, sets out how the couple wants their property controlled and owned. Both spouses are obliged to present full financial disclosure of their individual debts, assets and income, prior to the contract being signed. The marriage contract can be prepared with a notary ( for more information check http://monasalehinotaire.com ).
Before You Sign
Before a spouse enters a marriage contract, they need to understand the aspects and consequences of what they’re signing. Something else to consider is that duress or undue influence can invalidate the marriage contract,
Marriage contracts require an honest and thoughtful discussion and good advice. Most important of all – they need to be planned well in advance. It’s also important to make sure the contract is binding by hiring a notary.