If you've been following the tabloids lately in your piece of Toronto real estate property you've probably noticed how so many celebrity marriages are ending in divorce. It was hard to turn on the TV or read the newspapers without hearing the words "TomKat divorce" at least once. While the firestorm that erupted because of the Tom Cruise and Katie Holmes divorce isn't something that happens with all celebrity divorces, it did involve Tom Cruise after all, but that still doesn't mean that there haven't been a higher number of celebrity divorces in recent years than there used to be.
The two words that are always associated with celerity marriages and divorces, and no they're not rhinoplasty Canada. Those words are prenuptial agreement. However, prenuptial agreements or pre-nups, as they're more commonly referred, aren't just for celebrities; many common people sign into pre-nups before they enter into marriage.
For those of you reading this article in your Oshawa homes who are unaware of what pre-nups are they're a contract that both parties about to get married or enter into a civil union sign prior to the marriage or civil union taking place. The content inside of a pre-nup varies from relationship to relationship but they tend to usually include the same provisions.
Those provisions for the most part revolve around division of property such as Roncesvalles Toronto cottages and spousal support in case the union is dissolved or the marriage ends in divorce. Other provisions that pre-nups cover include any terms that would arise if the marriage would result in divorce because one half cheated on the other half or conditions of guardianship or parental rights if the relationship yielded children or pets.
Pre-nups are different in every country but most countries make sure that pre-nups provide for divorces, as well as protect property if something were to happen such as one half declaring for bankruptcy. The main reason why pre-nups are signed and agreed to before a marriage is to be finalized has to do with protecting assets one party owns. For instance, a soon to be groom owns a home before getting married and wants to be the sole owner of that property if a divorce were to occur. Some couples are wary of pre-nups and look to them as a sign of bad luck to come, while others won't get married without them because they want to protect something like their expensive boat or vast collection of abstract art from here.
In the United States there are five elements that must be met for a pre-nup to be recognized as valid and they are:
1. Pre-nup must be written.
2. Pre-nup must be voluntarily executed.
3. Pre-nups must include fair and/or full disclosure.
4. Pre-nup can't be unconscionable.
5. Pre-nup has to be executed by both parties and not their attorneys.
If you're getting married soon and have been swayed by what you now know about pre-nups you might want to talk to a lawyer to find out how the process works where you live.