Creating a Binding Financial Agreement
So, you are getting married? Well, with growing rate of divorces these days one cannot be too careful about getting a binding financial agreement before saying their vows.
The aim of any such binding financial agreement is to stop both the parties from filing an application in the court to divide the property and assets. If you and your partner agree to sign a prenuptial before getting married it will not only secure you financially, but will also prove to be a litmus test for the person of choice as if there is genuine love and interest, your partner would not think twice before signing the prenuptial.
Why is it necessary to create a binding financial agreement? Well, with the rise of divorces a trend of law suites for division of property and assets has increased many folds and at times it is felt that if you are well to do, the members of opposite sex might be interested in you not because of your personality of the person you are, but due to the fact that you have some bucks in your bank and your property is at prime location. And once you are married, your partner may file for a divorce later on claiming share in the property and filing an application in the court for half of your property or so...
And at that time, you would be sitting and thinking that a binding financial agreement could have saved you and that you should have made your partner sign a prenuptial.
And one should always remember, that binding financial agreements are intact during the life cycle of the relationship and there are four types of a binding financial agreement
1. Before Marriage
2. After Marriage
3. During Marriage
4. After Separation
You should opt for a good strong lawyer and the easiest way would be to visit Business Directory to find a good lawyer who will give you solid advice on how and what should the contract hold and how safe you are financially with the proposed contract.