Family Lawyers Edmonton | Common Questions About Prenuptial Agreements

In order to help demystify what a prenuptial agreement is not what it is used for, family lawyers Edmonton says that people should find out the answers to all of their most important questions about the subject. Ultimately, prenuptial agreements can help ensure that people not only are protected, but have previously agreed upon way to conduct themselves in case their marriage ends. Therefore, by understanding all of the misconceptions about it can help ensure that they are entering into them for the right reasons, and protecting themselves.

The first question that many people have for family lawyers Edmonton is: what is a prenuptial agreement? Very simply, it is a contract between two people that specifies what is going to happen in case of a divorce. There can be many different types of agreements, including a division of assets and wealth. It can also include information about alimony, child support, child custody, and even included specific clauses about specific behaviours that might have been encountered during the relationship. Ultimately, a prenuptial agreement need to be can be as simple or specific as is needed by both parties.

The second question is: what is the cost of creating a prenuptial agreement? While very few family lawyers Edmonton have a set fee for creating this document, the reason why is because each agreement can vary wildly, in terms of specificity, length and number of assets that are being documented. All of these factors can end up affecting the cost. Also, if it needs to be prepared very quickly, because a wedding is coming up. Therefore, people who are looking into the cost should get all of the information they want to include put together, and arrange for a free consultation in order to help lawyer have all the information they need to give them an effective price.

The third question that people have when they are getting married is: what should be considered when getting a prenuptial agreement made? Ultimately, family lawyers Edmonton says that a number of agreements need to be considered including a list of all of the wealth and assets that each person has, and which ones they are going to protect in the event of a divorce and which ones are going to be split 50-50. It is also an important time to crystallize the value of certain assets. And many agreements ensure both parties simply leave with everything that they brought in. The inclusion of children affects the prenuptial agreement, and in some circumstances, it will have what happens to the distribution of wealth if either party dies.

When people can understand all of the things that go into creating a prenuptial agreement, family lawyers Edmonton says that people can end up feeling more comfortable with the process, and understanding why it is important to have. Ultimately, people need to understand that it can text them, but also ensure that they save money in case their marriage breaks down, this can help them avoid a lengthy and expensive court battle.

Family Lawyers Edmonton | Common Questions About Prenuptial Agreements

Since 40% of all marriages end in divorce, creating prenuptial agreements are a very effective way of ensuring that people know exactly what is going to happen in the chance that their marriage ends says family lawyers Edmonton. And they end up getting a divorce. By negotiating these terms head of time, when they are still on good terms and very much in love with each other can help ensure that the agreement is fair for everybody, and ideally, the goal will be for a couple to never have to use that contract.

There are many questions that people often have for family lawyers Edmonton that can help them understand what it is for, and how it can help them specifically. The first question that people many times have is: can both parties use the same lawyer for prenuptial agreement? Ultimately, the answer is absolutely not. Not because lawyers want to make more money, but because the legal requirements of the legislation of the province that they live in requires independent legal counsel. Without this, the prenuptial agreement is actually not legally binding. If they do not get separate legal counsel, and then sign certification that they did get separate legal counsel, if either party decides to challenge the prenuptial agreement in court, he could be thrown out.

Many people want to know how long it takes to create prenuptial agreement? Family lawyers Edmonton says one thing that people should avoid, is have to to create it very quickly, because of an impending wedding. Therefore, most people should ensure that there creating this 6 to 9 months before they get married. If it is not given enough time, then people might end up feeling pressured or rushed to sign the agreement that can be signed before their wedding. If this is the case, it will not follow the legal requirements of the legislation to be considered legally binding, and it could be thrown out.

The next question that people have is: what if a partner refuses to negotiate or sign a prenuptial agreement? This is very important to address even before people start talking about marriage says family lawyers Edmonton. People should be having open conversations before they get engaged about the importance of a prenuptial agreement. Ideally, both parties will agree on the importance of them, as well as agree on the goal of the agreement. If they both are on the same page, it can be a lot simpler and easier to create the right contract for them. However, if one partner does not agree with it, ultimately they may never be able to enter into a prenuptial agreement together.

By understanding how prenuptial agreements work, and why they exist and help ensure that people are not only protecting themselves, but that they are creating a document that will help them uncouple themselves from each other simply, easily, and without creating any more hard feelings than might already be there.