This article deals with three of the most common myths around marital agreements. I see little reluctance to discuss such deals among wealthy family business class clients. Until about five years ago, such agreements were almost scandalous in India, but now on the rise, especially among the most prosperous classes. This change could be attributed to an increasing number of divorces in the country. Now that you understand what is good and bad if you have a marriage agreement, you can better determine if this is the right decision for you and your spouse. Remember, you should just evaluate whether it`s a good idea to have an agreement based on your personal financial situation. No one else should dictate whether you should have a prenup or not. It`s always a personal decision. A marital agreement is a contract between two people who are about to marry, detailing the assets, liabilities and financial resources held by each person and the equitable division of property in the event of a divorce.
In India, however, marital agreements are neither legal nor valid, as marriage is not considered a contract in most beliefs. It is a religious connection between man and woman, and marital agreements must make the contract valid under the Indian Contract Act of 1872. However, in some religions, marriage is considered a contract and, therefore, the applicable laws are different and must be treated appropriately. Weddings are now a hot topic, whether you are engaged, happy or unhappy. This is a good time to think about a marriage deal. You may consider obtaining a marriage pact if: a) there is an international aspect of your relationship, (b) it is not your first marriage or you have a child from a previous relationship, or (c) you own significant assets that you acquired before your relationship and that you wish to preserve. For all those who are about to have a new marriage, talking about a marriage agreement should be a top priority. While discussion about marriage contracts can be difficult, it is important to recognize that such discussions are important to protect your family`s future and future. A qualified family law lawyer can help anyone who has questions or concerns about marital agreements and can help in the development of an agreement that has the best chance of finally being sued. As you can see, a marriage deal can help you take both on the same side when it comes to real estate, finance and other responsibilities.
It may be best to discuss things in advance, but there are also some negative components for marital chords that you need to keep in mind before you start the conversation. While everyone hopes that marriage union is a life support, the cold reality is that even in India, the level of divorce has increased. In the United States, according to the Centers for Disease Control and Prevention, more than half of marriages end in divorce, according to 2012 statistics. It is estimated that the divorce rate in India was only 1 in 1000 per decade, but it is now 13 per 1,000, still low but constantly increasing. To protect against an inappropriate invasion of property ownership, a marital agreement is necessary. But in India, they are considered taboo and are not the subject of open debate. Now that you have found someone to represent you, also ask your future spouse. “It`s really important that both parties have their own lawyers to advise them specifically on the terms and provisions of the agreement,” said Raymond Hekmat, a Beverly Hills lawyer who specializes in prenupes.