A marriage contract, or rather, a prenuptial agreement is a legal document that is used to resolve issues that may arise involving finances and property division in the event that there is a “marital breakdown” or what is formally known as a divorce. Since the contract is drawn up prior to the wedding, it can sometimes be a source of emotional stress and anxiety for a couple. However, with care and consideration, it can help to ensure that in the event the marriage does not work out, there is an overall fairness for both sides.
While you may think that a marriage contract has a standard formula for deciding which spouse member will get what and how much, this is not actually true. Instead, a marriage contract can specify different types of results based upon a specific set of events or circumstances. As an example, the marriage contract could state that one of the spouses would be entitled to a certain percent of the other spouse’s retirement, based on the length of the marriage.
Marriage contracts also may be adapted so that they reflect the intentions of each party along with their goals for entering into the contract. To ensure that a marriage contract is valid and binding, keep in mind that it must be a written document that is signed and dated by third parties who are used as witnesses. The contract must also be entered into voluntarily and intentionally without duress.
Couples who are considering entering into a marriage contract may find beneficial information about the process by visiting the website.