Prenuptial (prenup) is a written and legal contract that discusses the financial concerns and other crucial & sensitive areas before both parties get married. It discusses the rights of the spouse if anything like divorce comes into the picture.
However, there are certain things you must know before you sign a prenup agreement. Not knowing them might invite unnecessary confusion and hence land you into trouble.
Jane Mukongolo, the best family lawyer in Toronto recommends you taking prenup seriously. Yes discussing the aftermaths of marriage end even before it happens is a bit harsh and not a thing to imagine, but absolutely necessary to avoid any sort of issues at any stage. Hence, knowing certain things before signing a prenuptial agreement is crucial. This blog explains them.
5 crucial facts about the prenuptial agreement
Checkout the top things you must know before you sign a prenup agreement below.
1) A prenup can be modified: Most people think that the prenup cannot be modified. However, that’s not entirely true.
If both parties want and agree, the prenup can be modified. With the prenup modification, you can either add or remove clauses or add another contract incorporating the modifications.
If you think that a prenup cannot be modified, it’s time to know the facts and know that the modification is absolutely possible.
2) A prenup can be invalidated or revoked: Yes, both parties sign prenup only when they feel that the agreement is right and fair.
However, if at any stage, both parties feel that the rights included in the prenup aren’t fair and they are a victim of something wrong, they can get the prenup invalidated legally.
Some of the most probable causes for the prenup being invalidated are unfair conditions, disclosed assets, or unclear clauses.
3) A prenup requires you to stay organized & advanced: If you desire to draft a prenup, talk about the same to your future spouse as soon as possible. You might not be knowing it, but prenup is a lengthy process, and you must be organized & advanced to ensure that no mess happens at any stage.
Conversate effectively with your future spouse and ensure that you both are clear with every clause to be included in the prenup. Being advanced with signing the prenup will give both of you room to discuss and make amendments if required.
4) Prenups are drafted to fit your needs and not your benefits: Remember, prenups are there to protect your rights and requirements and not to give you unfair benefits.
Hence, if you sign a prenup, and if you feel that you are giving yourself a key to a luxurious life, throw this thought away.
Don’t expect the prenup to give you any sort of unfair advantages at any stage of your life. It might sound a bit rude, but it’s the truth.
5) A prenup will be protecting both of you: Another fact that most people forget when they sign the prenup. Yes, your rights will be protected by the prenup when you sign it, but at the same time, it would protect the rights of another party too.
Hence, keep in mind that prenup along with protecting your rights, protect the rights of other parties too. Hence, be fair and honest during the entire process.
A prenup might not sound like a very pleasant thing when it comes to marriage, but it is absolutely necessary for both parties. It protects the rights of both parties, which is the major benefit of the prenup and validates the requirement of the same.
If you desire to get more information about the prenup, or if you desire any sort of legal assistance, Jane Mukongolo, an experienced divorce lawyer in Toronto can help you out. You can count on our experienced team to help you sail through any process smoothly. To reach out to our team, call us at (647) 660-9832.